USD 93.69 billion
Craft Beer Market Size, Share, Growth Analysis, By Type(Large, Ale, Others), By Distribution channel(Off-trade, On-trade), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30E2044 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
62
|Figures:
75
Craft Beer Market Insights
Craft Beer Market size was valued at USD 93.69 billion in 2019 and is poised to grow from USD 104 billion in 2023 to USD 243.15 billion by 2031, growing at a CAGR of 11.2% in the forecast period (2024-2031).
Beer is one of the most popular and primitive drinks. It is an integral part of several cultures and poses various health benefits when consumed within the limit. It is still one of the most popular drinks among people, especially young drinkers. Beer is the most popular and largely exported alcohol beverage across the regions. Varied taste flavors and formulations have made beer a popular trend among millennials and Gen Z individuals.
The innovative methods of infusing varied flavors into the beer have shifted consumer preference to organic flavors and the craft beer market is expected to witness rising market growth. The covid-19 pandemic led to devastating effects on the craft beer market.
US Craft Beer Market is poised to grow at a sustainable CAGR for the next forcast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Large
Fastest Growth
Large
Growth Rate
11.2% CAGR
Global Craft Beer Market ($ Bn)
Country Share for Asia Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Craft Beer Market Segmental Analysis
The Global Craft Beer Market is segmented based on type, distribution channel and region. Based on type, the market is categorized into large, ale, and others. based on distribution channel craft beer market is categorized into off-trade and on-trade. Based on the region craft beer market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Craft Beer Market Analysis by Type
On the basis of type, the craft beer market segmentation is done by categorizing the market into large, ale and Others. Among all these the large segment is expected to dominate the beer market by the forecasted period. Consumers are inclined toward purchasing beer which can be preserved for a long time. Large beer is prepared using the technique of bottom fermenting, this keeps the beer fresh and makes it one of the most widely consumed beer types all across the globe. Moreover, the incorporation of various styles and sizes further attracts consumers.
Additionally, the ale type market segment is also expected to grow and generate a higher craft beer market share due to its popularity among youngsters. Ale beer is prepared from top-fermented yeast that is more tolerant to alcohol. Also, there is a rising concern among youngsters to opt for a less alcoholic beer, Ale best suits and is gaining popularity.
Craft Beer Market Analysis by Distribution Channel
On the basis of distribution channel, the craft beer market segmentation is done by categorizing the market into off-trade channels and on-trade channels. The craft beer market analysis highlights the dominance of the off-trade distribution channel. The market growth is subjected to cost-effectiveness and consumer preference. The alcoholic beverages are sold at on-trade channels viz bars. restaurants cost comparatively high. Also, individuals enjoy and relish the taste in their home and comfort. Covid-19 restrictions have also fueled the growth of off-trade channels as all the bars and restaurants were shut down to prevent the virus spread. The craft beer market growth is witnessed at retail shops and e-commerce sites.
Global Craft Beer Market By Type
To get detailed analysis on other segments, Request For Free Sample Report
Craft Beer Market Regional Insights
Asia Pacific is estimated to dominate the craft beer market share projecting a CAGR of 11%. China and India are projected to be leading markets in the upcoming years. China was recorded to be the leading beer producer in 2022. The Global Craft Beer Market has witnessed increased production and demand for flavored beer. The adoption of modern and western culture and the trend of social dine-outs is common among people due to hectic life schedules.
North America is estimated to be a third potential market for the Global Craft Beer Market. There were around 29.1 billion USD sales for craft beer in the US in the period 2018 to 2022. Craft beer market size is expected to expand due to increasing demand for different flavors and ABV beers, youngsters are enticed towards low alcohol beer owing to health concerns increasing the demand in the upcoming years.
Africa and the Middle East are anticipated to be potential Craft Beer Market owing to increased urbanization and acceptance of western culture.
Global Craft Beer Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Craft Beer Market Dynamics
Craft Beer Market Driver
Growing Popularity of Craft Beer to Entice the Population
- Advent arrival of varied flavors in beer is enticing people. There is a huge popularity for beer all over the globe and infusion of the ambition of interesting flavors such as fruity, spicy, and classic premium blends incite drinkers. As a popular component of social gatherings and parties craft beers have gained huge popularity among youngsters which is anticipated to be a significant craft beer market driver in the forecast period.
- The trend to adopt urban living ways and embrace modern habits have inclined millennials to alcohol consumption. 33% of beer drinkers try a new beer every time. The Increased need to socialize and owing to the hectic and busy schedule have paved the way for several breweries to meet the increasing demand. There are around 9,811 craft breweries in the US. The number of new breweries being set up is expected to propel the craft beer market share.
Craft Beer Market Restraint
Availability of counterfeit products to impede the market demand
- The presence of various other alternative alcoholic beverages viz gin, whiskey, and rum as compared to craft beers is anticipated to be a restraining factor.
- Availability of counterfeit products to create diversions for consumers. This impacts the market growth
Request Free Customization of this report to help us to meet your business objectives.
Craft Beer Market Competitive Landscape
The Global Craft Beer Market includes big and medium-sized and large-sized market participants accounting for a large portion of market revenue. Major players are implementing numerous tactics, including mergers and acquisitions, new launches, strategic agreements and contracts. They are deploying ways to understand the need of the market and garner ways to generate a high market share.
Craft Beer Market Top Players Company Profiles
- Sierra Nevada Brewing Company
- New Belgium Brewing Company
- Dogfish Head Craft Brewery
- Stone Brewing
- Lagunitas Brewing Company
- Samuel Adams
- Bell's Brewery
- Deschutes Brewery
- Founders Brewing Co.
- Avery Brewing Company
- Oskar Blues Brewery
- Goose Island Beer Co.
- Brooklyn Brewery
- Boulevard Brewing Co.
- Great Lakes Brewing Company
- The Alchemist Brewery
- Russian River Brewing Company
- Firestone Walker Brewing Company
- Tröegs Independent Brewing
- Funky Buddha Brewery
Craft Beer Market Recent Developments
- In November 2021 an acquisition took place between Heinekin, Distell Group Holdings Limited, Namibia Breweries Limited, and Ohlthaver & List Group of Companies. This agreement envisions integrating the respective and relevant businesses in Southern Africa into the enlarged company
- In February 2022, Scottish craft brewer BrewDog expanded into the soft drinks market with the launch of its P.O.P. Soda line.
- In May 2022, Vir Das an Indian actor Launched His Own Craft Beer called Faaaakit, which is being brewed and distributed by one of India’s most innovative craft breweries – Great State Aleworks.
Craft Beer Key Market Trends
- Increased Market Demand for Craft Beer: The increasing number of craft beer breweries due to increasing market demands has inclined breweries to use innovative methods to entice consumers. CBD, Cannabidiol is an innovative component that is infused in breweries. People are inclined towards CBD infused because of the enhanced taste and low calories. CBD is derived from the cannabis plant it is the non-psychoactive part of it.
- Availability of New Varints Beer fused with varied tastes and flavors has become the new market craze and becoming popular among youngsters which project growing market size. Beer has been a popular and widely accepted beverage of all times generation after generation. Integration of varied tastes is propelling the market growth and thereby projects a huge market share.
Craft Beer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Global Craft Beer Market sector is estimated to showcase high market growth owing to increased demand. Increasing innovative ideas leveraged by key market players to entice consumers is propelling the market demand. Beer is a popular beverage all over the globe and with increased urban and modern living the popularity has enhanced which is causing the setting up of new breweries. Additionally, the sale at bars clubs along with retail stores is propelling the market growth.
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to a detailed SkyQuest exclusive matrix.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 93.69 billion |
| Market size value in 2031 | USD 243.15 billion |
| Growth Rate | 11.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Craft Beer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Craft Beer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Craft Beer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Craft Beer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Craft Beer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Craft Beer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
