The global beer market value is set to reach a valuation of US$ 759.1 billion in 2023. This value is predicted to ascend to around US$ 1,679.5 billion by 2033. Notably, Sales of beer are poised to demonstrate a substantial CAGR of 7.6% throughout the forecast period.
Alcoholic beverages are produced by fermenting malt, wheat, molasses, fruits, botanicals, and other components. Fermentation and distillation are performed based on the sort of drink to be produced. Beer and wine are not distilled, but spirits are produced by distilling a fermented base. Distillation processes vary depending on the type of drink, such as steeping, percolation, and so on.
Beer can be brewed in a variety of methods, but the main ingredients are malted grains (such oats, barley, or rye), yeast, and hops (flowers). The malt is principally responsible for the hue, while all of the listed ingredients contribute to the beer’s flavour. It is a common misperception that darker beers contain more hops than pale kinds or are “bitter”. Often, the contrary is true, but the general guideline is to never judge a beer solely on its appearance.
Alongside this, a consistent growth is being observed since past few years for preference for low ABV (alcohol by volume) drinks. Owing to this, the sales of low-alcohol or no-alcohol beers is expected to escalate in the near future. This can be attributed to the rising interest of health-conscious consumers in drinks with low alcohol content and a wider choice of new flavored beers with improved taste. Due to the above-listed factors, the demand for beer is predicted to surge over the forecast period (2022-2032).
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Key Takeaways from Market Study
- Europe is expected to dominate the global beer market, accounting for the maximum value share of about 28% by 2022 end, followed by North America
- The U.S. is expected to account for the maximum share of nearly 80% of the North America beer market
- By product type, lager is expected to account for the maximum market value share by 2022 end
- Higher income groups and working population have an increased spending capacity which is likely to increase the demand for beer in the near future
- Online channel is expected to show an impressive growth as compared to all the other channels over the assessment period (2022-2032)
“The demand for beer is increasing globally because of the growing consumption by the millennial population. Beer flavoring is used as a taste enhancer for beer and other alcoholic drinks, which is expected to influence the demand for beer in the coming decade”, says a Future Market Insights analyst.
Competitive Landscape
Key market participants are following different marketing and promotional strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to address the needs of the consumers and serve accordingly, thus, creating a larger customer base in the coming years.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global beer market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
By Product Type, Global Beer Market is segmented as:
- Ale
- Lager
- Stouts
- Others
By Packaging, Global Beer Market is segmented as:
- Can
- Bottle
- Glass
- Others
By Production, Global Beer Market is segmented as:
- Macro-brewery
- Microbrewery
- Craft Brewery
- Other
By Distribution Channel, Global Beer Market is segmented as:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
By Region, Global Beer Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
