Craft Beer Market to Record 9.60% Y-O-Y Growth Rate in 2021 | Anheuser-Busch InBev SA/NV offers Craft Beer such as Goose Island, 4 Pines, Aicha & more| Technavio

• Total Pages: 120
• Companies: 10+ – IncludingAnheuser-Busch InBev SA/NV, Asahi Group Holdings Ltd., Carlsberg Breweries AS, D.G. Yuengling & Son Inc., Diageo Plc, Duvel Moortgat NV, Heineken NV, Kirin Holdings Company Ltd., New Belgium Brewing Co., and The Boston Beer Co. among others.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: Product (India pale ale, seasonal craft beer, pale ale, amber ale, and other craft beer)
• Geographies: North America, Europe, APAC, South America, and MEA

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According to the recent market study by Technavio, the Craft Beer Market is expected to increase by USD 65.09 billion from 2020 to 2025, with an accelerated CAGR of 11.24%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets. North America will register the highest growth rate of 36% among the other regions.

Download FREE Sample: for more additional information about the key countries in North America

Vendor Insights-

The Craft Beer Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.

Anheuser-Busch InBev SA/NV - The company offers craft beer such as Goose Island, 4 Pines, Aicha, and more.

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Regional Market Outlook

The Craft Beer Market share growth in North America will be significant during the forecast period. US and Canada are the key markets for craft beer in North America. Market growth in this region will be faster than the growth of the market in the European and MEA regions. The rising number of microbreweries will facilitate the craft beer market growth in North America over the forecast period

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

• Craft Beer Market Driver:
• The increasing popularity of craft beer in developing countries.:

The key factors driving growth in the craft beer market is the increasing popularity of craft beer in developing countries. Steady economic growth, especially in APAC, MEA, and Latin American regions, has resulted in higher incomes of consumers. The increased purchasing power of the middle-income consumers in these regions has resulted in consumers looking for more innovative products in the food and beverages industry, which in turn, has resulted in a higher demand for craft beer products. The substantial rise in consumer expenditures in the world's two most populous countries is a positive sign for the global craft beer market. In addition to this, the millennial population is focusing on drinking less but drinking quality. The health benefits of craft beer compared with mass-produced beer, coupled with additional flavors, have made craft beer popular among the young generation. The popularity of craft beer among millennials is driving the growth of the craft beer market.

• Craft Beer Market Trend:
• The rising population of millennials worldwide:

The rising population of millennials worldwide is another factor supporting the craft beer market share growth. The millennials have enormous spending power, and the spending power of millennials is expected to increase during the forecast period. Craft beer is becoming popular among millennials, as the enthusiasm to try out new variants and flavors is more among millennials as compared to other consumer segments. Furthermore, rising disposable incomes of consumers in developing countries such as India, where the population of millennials accounted for nearly 29% of the total population, provide a huge opportunity for global craft beer players to expand their geographical presence and increase their customer base. The millennial population is expected to play an essential role in the growth of the global craft beer market during the forecast period. 

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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SOURCE Technavio