Beer Market size is set to grow by USD 141.28 billion from 2022-2027 – Technavio
Industry: Retail & eCommerce
The demand for beer is experiencing a notable upsurge in emerging economies like India, China, Brazil, Vietnam, and South Africa
New York, NY (PRUnderground) November 21st, 2023
The Beer Market size is estimated to grow by USD 141.28 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.7% during the forecast period. The global beer market is witnessing increased demand in emerging economies like India, China, Brazil, Vietnam, and South Africa due to changing lifestyles, urbanization, rising incomes, and beer’s popularity among millennials. Global beer companies are focusing on expanding distribution channels and online sales in these regions. Notable beer releases include Allagash Brewing Company’s Haunted House, Black Calder Brewing Co.’s pioneering beer, and Capital Brewing Co. and ONA Coffee’s collaboration on Imperial Stout, expected to drive the market’s growth. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
What’s New?
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report
Beer Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Packaging (bottles and cans), Distribution Channel (on-trade and off-trade), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
The bottles segment is expected to be significant during the forecast period. Historically, beer has been commonly stored in traditional, brown-colored glass bottles, notably the 600-ml size, often shared among 2-3 people. Presently, consumers also favor lightweight metal cans due to their adaptability in various social settings. Alternative packaging materials like wooden containers and polyethylene terephthalate (PET) bottles are also viable options in the market.
Geography Overview
By geography, the global Beer Market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the Beer Market.
The APAC is anticipated to contribute 42% to the overall market growth. APAC stands out as one of the fastest-growing regions globally in the beer market, driven by countries like China, Australia, Japan, Vietnam, and India. This growth is driven by factors such as increasing GDP, economic expansion, rising popularity of beer, growing middle-class population, higher per capita income, and the preference for beer among millennials.
Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) – Download a Sample Report
Beer Market– Market Dynamics
Leading trends influencing the market
The market is witnessing a rising trend of introducing new beer flavors, driven by the growing global consumer base. Flavored beers, largely introduced through craft beer offerings, have gained popularity, attracting consumers with unique tastes. Breweries target adventurous millennials who seek diverse experiences, prompting the continuous introduction of fresh flavors. For instance, Diageo launched Guinness Nitro Cold Brew Coffee Beer in the US to broaden its customer base. This increasing demand for diverse beer flavors is expected to drive the market forward during the forecast period.
Major challenges hindering the market growth
- Health concerns surrounding beer consumption is a significant challenge for the market due to potential physical and mental health issues associated with excessive alcohol intake.
- Prolonged beer consumption can lead to various health problems like blackouts, coordination loss, seizures, drowsiness, hypothermia, low blood sugar, vomiting, diarrhea, bleeding, irregular heartbeat, mental health issues, heart problems, and liver failure.
- Growing health awareness has shifted consumer preferences towards healthier beverage options, leading to increased demand for non-alcoholic drinks, impacting the global beer market negatively.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report
What are the key data covered in this Beer Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Beer Market between 2023 and 2027
- Precise estimation of the size of the Beer Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Beer Market industry across APAC, Europe, North America, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Beer Market vendors
Related Reports:
Commercial Beer Kegerators Market: The commercial beer kegerators market size is estimated to grow at a CAGR of 5.07% between 2022 and 2027. The market size is forecast to increase by USD 19.15 million.
Ginger Beer Market: The ginger beer market share is expected to increase to USD 4.08 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.68%.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Packaging
- Market Segmentation by Distribution Channels
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio Research
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
