Global Craft Beer Market: Overview
Beer is one of the oldest alcoholic drinks that are widely consumed around the world. It is the world’s popular drink that is highly consumed after water and tea. Brewing is the term used for the process of making beer. The place where the beer is produced in huge quantities is known as the brewery. Craft beer is a term that is used loosely for the beer that is produced focusing on the quality and not on the quantity. The microbrewery or the craft brewery is the place where such type of beers is produced.
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Global Craft Beer Market: Segmentation
The global craft beer market is segmented into its distribution and regions. On the basis of distribution, the market is segregated into off-trade and on-trade. Based on the region, the global craft beer is diversified into Europe, Central & South America, North America, Asia-Pacific, and the Middle East & Africa.
Global Craft Beer Market: Growth Factors
The growing consumption of the craft beer and the growing demand for the craft beer across several developed countries are the major factors that anticipate fueling the growth of the global craft beer market in the coming years. In addition, there has been a rise in the demand for the flavored beverages across the world thus accelerating the growth of the global market. In the recent years, beer has been accepted as a social drink which is another vital factor that supplements the growth of the craft beer market across the globe. Nonetheless, the improving distribution network and the growing consumption of the craft beer in several regions estimates to augment global craft beer market in the coming few years. There has been a development of new flavors in the craft beer thus generating hopeful opportunities for the key market players in the market. On the other hand, the increasing preference of the consumers towards the substitutes will hamper the growth of the global craft beer market in the coming years.
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Global Craft Beer Market: Regional Analysis
The region that anticipates dominating the craft beer market is Asia Pacific region and this dominance will continue in the coming years too. This market growth is owing to the considerable contribution from the countries such as Australia, Japan, and New Zealand which predicts encouraging the growth of the market in this region in the coming period. Moreover, Europe and North American regions expect to witness a significant growth in the next few years. The growing popularity of the craft beer and its easy availability in these regions anticipates fuelling the growth of these segments.
Global Craft Beer Market: Competitive Players
Some of the key market players that are involved in the craft beer market include D.G. Yuengling and Son, The Boston Beer Company, Deschutes Brewery, Feral Brewing Co., Bell’s Brewery, Inc., Lagunitas Brewing Company, Omer Vander Ghinste, Stone & Wood Brewing Co., Sierra Nevada Brewing Co., Chimay Beers and Cheeses, The Gambrinus Company, Vagabund, and New Belgium Brewing Company.
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