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

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