Global Craft Beer Market Report 2023: A $221.5 Billion Industry by 2028 - Key Trends, Market Share, Size, Growth Opportunities and Forecasts

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May 26, 2023, 14:15 ET

DUBLIN, May 26, 2023 /PRNewswire/ -- The "Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global craft beer market size reached US$ 117.1 Billion in 2022. Looking forward, the market is set to reach US$ 221.5 Billion by 2028 exhibiting a CAGR of 11.21% during 2022-2028.

The escalating demand for low-alcohol beverages and the rising number of health-conscious consumers represent the primary factors driving the market growth. Besides this, the growing number of restaurants, lounges, bars, and pubs serving alcoholic beverages due to the increasing socialization trends is another major growth-inducing factor.

Additionally, there has been a significant shift toward low ABV beers and ciders due to the rising awareness regarding alcohol unit consumption among the masses. Along with this, consumers, especially the young population, are now willing to try out new beverages, which is catalyzing the product demand.

As a result, several key players are introducing a wider choice of flavors, such as sweet and sour, spicy, honey-like, and fruity, with enhanced taste to attract more consumers and expand their product portfolio. Moreover, the incorporation of go-green technology and innovative methods into the craft beer manufacturing process to minimize water usage and wastage is propelling the market growth.

Other factors, including the rising popularity of non-alcoholic craft beer, ongoing research and development (R&D) activities, and changing consumption patterns, are also creating a positive outlook for the market.

Key Questions Answered in This Report

What was the size of the global craft beer market in 2022?
What is the expected growth rate of the global craft beer market during 2023-2028?
What are the key factors driving the global craft beer market?
What has been the impact of COVID-19 on the global craft beer market?
What is the breakup of the global craft beer market based on the product type?
What is the breakup of the global craft beer market based on the age group?
What is the breakup of the global craft beer market based on the distribution channel?
What are the key regions in the global craft beer market?
Who are the key players/companies in the global craft beer market?

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

Anheuser-Busch InBev SA/NV
Bell's Brewery Inc.
Constellation Brands Inc.
D.G. Yuengling & Son Inc.
Diageo Plc
Duvel Moortgat
Heineken NV
New Belgium Brewing Company Inc.
Oskar Blues Brewery LLC
Sierra Nevada Brewing Co.
Stone & Wood Brewing Co. (Lion Brewery Co)
The Boston Beer Company Inc.

Key Market Segmentation:

Breakup by Product Type:

Ales
Lagers
Others

Breakup by Age Group:

21-35 Years Old
40-54 Years Old
55 Years and Above

Breakup by Distribution Channel:

On-Trade
Off-Trade

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/atcn4l

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SOURCE Research and Markets