The global beer market value was USD 680.8 billion by 2021. The market is expected to expand at a compound annual growth rate (CAGR of 7.1%) between 2022-2031
Growing Demand
Europe is expected to hold the largest share at USD 257.00 Billion in 2020. Beer is integral to every European country and vital to culture, heritage, and nutrition. The European Union ranks among the top beer-producing regions worldwide. According to The Brewers of Europe 2019, 368,682 hectolitres of beer were consumed. Around 11,048 European breweries produced the beer. The European beer market is highly diverse in structure. It is mainly made up of small- and medium-sized enterprises, including microbreweries and those that operate at local, regional, and national levels. A sign of the industry’s innovation potential is the emergence of small and micro-breweries over the last few years. Europe has seen a decline in alcohol consumption and harmful alcohol use. As such, some consumers have switched to beer and low-alcohol non-alcoholic products. These consumer preferences are expected to boost the European market’s growth.
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The Asia Pacific is the 2nd-largest region. This region’s potential market for beer makers and their products is enormous. Australia, China, India, and other countries dominate the regional beer market. According to Anheuser Busch InBev, the Asia Pacific is the most important growing region in the industry. It will account for 53% of the industry’s growth between 2014-2025. People are increasingly accepting beer due to its fresh flavor and alcoholic appeal. These consumers accept westernized styles and are more inclined to eat out, driving the expansion of regional on-trade beer channels.
North America was third in the overall market. The world’s largest beer markets are located in North America. There is tremendous potential for growth due to the strong beer consumer association and an increasing number of beer breweries. According to the Alcohol & Tobacco Tax & Trade Bureau (TTB), there were 6,406 locations of breweries in the United States in 2020. In 2020, the U.S. brewery industry was estimated to have sold around USD 100 Billion worth of malt beverages and other beverages to U.S. citizens through retail beer shops. The increasing popularity of beer in the region can be directly attributed to the growing demand from millennials, young workers, and other demographics. This is due to their changing taste preferences and different beer-drinking experiences. The ale type will grow in the next few years because of changing consumer preferences and growing demand for low ABV ales.
Driving Factors
Beer Consumption is driven by increasing disposable income and Westernization.
Improved economic conditions and a GDP (Gross National Product) increase in developing regions like South America and Asia have increased per capita disposable incomes. The alcohol beverage industry’s overall growth depends on the consumer’s disposable income. Kirin Holdings Co., Japan’s leading beverage company, said worldwide beer consumption rose in 2019 for the second time due to strong demand in Asia/Africa and their economic growth. Global beer consumption increased by 0.5%, to 189.05 Million Kiloliters. The increase was driven by people in Asia spending more on beer, and recording increases of 0.7%, and 5.2%, year-over-year, respectively. The rise in acceptance of westernized cultures and increased modernization among consumers has increased global product consumption.
To help market growth, increasing the prevalence of alcohol socialization among consumers
Alcohol has always played a crucial role in people’s lives and desires. This trend continues to grow with the increasing demand for bold flavor-infused drinks. Beer is a very popular alcoholic beverage. Young people and millennials are enjoying it immensely. Beer drinking is booming worldwide due to its increasing popularity among diverse cultural groups as well as the increase in consumer social status.
Restraining factors
Restricted Provincial Acts in Marketing and Advertising Beer in several Regions of the World Hamper Growth
The global alcohol market has struggled to advertise and market alcoholic beverages in a way that supports and encourages healthy living. The United Kingdom has banned the promotion of beers in many major international markets, including India, China, Japan, and the U.K. Restrictions hamper the market growth in provincial marketing. Surrogate advertising allows manufacturers to promote their products using the disguise of other products.
Market Key Trends
Growing Preference to Low Alcohol by Volume (ABV).
The growth in the number of beer breweries all over the globe and the rising demand worldwide for beer are two of the main factors behind the rise of the global beer market. The preference for beverages with low alcohol per unit has steadily increased. Health-conscious consumers are increasing their demand for low-alcohol and non-alcohol beer. The introduction of innovative products also supports market growth. Also, low-alcohol beverages are less expensive than their high-alcohol counterparts, especially if they have 2.8% ABV. This scenario is more common in European countries such as Sweden, where brewers want to improve the low-alcohol beer market.
Recent Development
- Stella Artois Unfiltered, Anheuser Busch InBev’s first product, was introduced in February 2022. Stella Artois standard has a 4.6% ABV. The cans are available in 6- or 12-packs, 33-cl, and 64-cl individual cans.
- Heineken Original was revamped in March 2021 by Heineken and introduced new slim cans. The slim cans can be purchased in 12 oz. 6-packs to 12-packs. 18-packs to 24-packs. serving.
- Carlsberg released a new beer container in February 2021. It reduced the carbon footprint by 90%.
Key Companies
- TsingTao
- INDIO
- Heineken
- Coors Light
- Brahma
- Hardin
- Yanjing
- Skol
- Budweiser
- Bud Light
- Snow
- Kindfisher
- STROHS
- TECATE
- MGD
Key Market Segments
Type
- Twopenny
- Brown Beers
- Dark Beer
Application
- Household
- The Hotel
- KTV
Frequently Asked Questions
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