The latest report by IMARC Group, titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the craft beer market overview. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global craft beer market size reached US$ 130.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 293.4 Billion by 2032 exhibiting a growth rate (CAGR) of 9.2% during 2024-2032.
Craft Beer Market Trends:
The global market is primarily driven by the rising consumer preference for unique and high-quality beer flavors. In accordance with this, increasing disposable incomes allow consumers to spend more on premium alcoholic beverages, thereby impelling the market. Similarly, the growing trend of supporting local breweries and artisanal products is augmenting market growth.
Moreover, continual advancements in brewing techniques and ingredients enhance the variety and quality, which is creating lucrative opportunities in the market. In addition to this, the rapid expansion of distribution channels, including specialized beer shops and online platforms, is improving accessibility, and resulting in a higher uptake of the product. Furthermore, the rise of beer tourism, where enthusiasts visit breweries and participate in tasting events, is promoting the market appeal. Besides this, favorable government support and regulations for small-scale breweries is encouraging market expansion.
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Craft Beer Scope and Growth Analysis:
The scope of the market is extensive, covering a wide range of styles and flavors that cater to diverse consumer preferences. The market scope is poised for robust growth, driven by the increasing popularity of craft beer among younger demographics and the continuous innovation in brewing practices. Market analysis indicates that the growth is benefitting from the expanding presence of craft beer in global markets, as international demand for artisanal and locally produced beverages rises.
Additionally, strategic collaborations between craft breweries and large beverage companies are enhancing production capabilities and market reach. The rapid development of sustainable and eco-friendly brewing processes is attracting environmentally conscious consumers. As per market analysis, the rise of homebrewing and DIY beer kits reflects a growing interest in craft beer culture and experimentation, driving market scope. Moreover, effective marketing strategies, including social media and event sponsorships, increase product visibility and appeal.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Anheuser-Busch InBev SA/NV
- Bell's Brewery Inc.
- Constellation Brands Inc.
- 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
Craft Beer Market Segmentation:
Our report has categorized the market based on region, product type, age group and distribution channel.
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)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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