Beer Market to increase by USD 141.28 billion from 2022 to 2027- Technavio
NEW YORK, Nov. 14, 2023 /PRNewswire/ -- The beer market size is expected to grow by USD 141.28 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 3.7% during the forecast period. Rising demand for beer in emerging economies is notably driving the beer market. However, factors such as the presence of stringent regulations and high rates of taxes on alcoholic beverages may impede market growth. The market is segmented by packaging (Bottles and Cans), distribution channel (On-trade and Off-trade), and geography (APAC, Europe, North America, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Key Segment Analysis
- The market share growth by the bottles segment will be significant during the forecast period. Traditionally, beer has been packaged in glass bottles, typically brown-colored, with the 600-ml beer bottle being a popular choice that's easily shareable among 2-3 people. Modern consumers, however, are showing a preference for lightweight metal cans, which can adapt to various social situations. Additionally, alternative packaging materials like wooden containers and polyethylene terephthalate (PET) bottles have become available. The introduction of innovative Green Fiber Bottles presents a novel solution. These bottles are non-transparent and shatterproof, featuring a distinctive fiber structure. What's more, they are environmentally friendly and offer a sustainable option for beer packaging. Instead of a plastic seal, an impermeable coating is used. The wood fiber used for these bottles is sourced from sustainably managed wood fibers. These advancements are poised to stimulate growth in the bottle segment, consequently driving the expansion of the global market in the forecast period.
To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.
Geographical Market Analysis
- APAC is estimated to account for 42% of the global market growth during the forecast period. Several factors contribute to this growth, including the expanding gross domestic product (GDP) and economic development in the region, the increasing popularity and widespread acceptance of beer in various APAC countries, the growth of the middle-class population, rising per capita income levels, and a growing preference for beer consumption among the millennial demographic.
Company Insights
The beer market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including AleSmith Brewing Co., Anheuser Busch InBev SA NV, Beerwulf BV, BrewDog Plc, Cloudwater Brew Co., Diageo Plc, East 9th Brewing Co., Forbidden Root Restaurant and Brewery, Heineken NV, Keurig Dr Pepper Inc., Kirin Holdings Co. Ltd., Mikkeller APS, Mission Brewery, Molson Coors Beverage Co., Saranac Brewery, Sprecher, Stone Brewing Co. LLC, Swinkels Family Brewers, The Boston Beer Co. Inc., and Wild Beer Co.
View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
The APAC Beer market size is projected to increase by USD 59.9 billion and the market size is estimated to grow at a CAGR of 4.5% between 2022 and 2027.
The Europe - Craft Beer Market size is projected to increase by USD 13.06 billion and the market size is estimated to grow at a CAGR of 7.87% between 2022 and 2027.
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Packaging
Market Segmentation by Distribution Channel
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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