New York, NY, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Craft Beer Market By Type (Ales, Specialty Beers, Pilsners & Pale Lagers, and Others) and By Distribution (Off-Trade and On-Trade): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Craft Beer Market was estimated at USD 110 Million in 2019 and is expected to reach USD 200 Million by 2026. The global Craft Beer Market is expected to grow at a compound annual growth rate (CAGR) of 8% from 2019 to 2026.
Craft beer is a beer made by a brewer that is small, independent, and traditional. These beers are made by using traditional ingredients like malted barley, but sometimes the addition of non-traditional ingredients are also added. The flavors of craft beer are derived from traditional and innovative brewing ingredients and fermentation. Types of craft beer include ales, specialty beers, pilsners & pale lagers, and many such. Distribution methods of craft beer consist of off-trade and on-trade methods.
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• 2020 Updated Report Introduction, Overview, and In-depth industry analysis
• 190+ Pages Research Report (Inclusion of Updated Research)
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• 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
• Facts and Factors research methodology
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Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Increasing consumer preference for low alcohol is the major driver for the target market growth. In addition, the exotic flavor profile aspect of craft beer is also one of the factors augmenting the target market growth. Additionally, augmentation in demand for more beer styles coupled with a rise in per capita income of target customers has surged the target market growth as well. Furthermore, the rise in the establishment of pubs as well as bars has enhanced the target market growth as well. However, the high cost of craft beer through on-trade distribution is anticipated to harm the target market growth over the forecast period. Nevertheless, increasing inclination towards a special preference for traditional beers is anticipated to create lucrative growth opportunities for the target market growth.
Top Market Players
Some of the key players operating in the target market are Bell's Brewery Inc., The Boston Beer Company, Stone & Wood Brewing Co., The Gambrinus Company, Anheuser-Busch InBev, New Belgium Brewing Company, Sierra Nevada, Sam Adams, D.G. Yuengling and Son, and The Lagunitas Brewing Company.
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In terms of type, the target market is categorized as ales, specialty beers, pilsners, and pale lagers, and others. Among these, ales are anticipated to be the leading one due to the increase in popularity among youngsters. It has a fruity and sweet taste due to which it has become one of the favorite choices of individuals.
In terms of distribution, the target market is categorized as off-trade and on-trade. Among these categories, on-trade distribution is expected to be the dominating one. The rise in the number of clubs and pubs across the globe have fuelled the on-trade distribution.
Changing lifestyles is one of the propelling factors of target market growth. In addition, the rising preference of individuals for low alcohol has also boosted the target market growth. Moreover, craft beer offers exotic flavor, this has enhanced the target market growth as well. Furthermore, the surge in demand for more beer styles has also developed the target market growth.
The rise in the per capita income of individuals has been boosting the target market growth as well. Also, an increase in the development of clubs and pubs in developed as well as developing nations have enhanced the target market growth as well. However, the cost of craft beer is high as compared to other beers. This is anticipated to hamper the target market growth over the forecast period. Nevertheless, individuals are inclining towards traditional beers more nowadays; this may create growth opportunities over the forecast period.
The Craft Beer market research report delivers an acute valuation and taxonomy of the Craft Beer industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
Browse the full “Craft Beer Market By Type (Ales, Specialty Beers, Pilsners & Pale Lagers, and Others) and By Distribution (Off-Trade and On-Trade): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/craft-beer-market-by-type-ales-specialty-beers-851
In terms of region, the target market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, Europe is projected to be the prominent one over the forecast period due to the customer inclination towards flavored brews coupled with the large product consumption that has boosted the target market in the region. In addition, countries such as the UK and Germany are one of the largest consumers of craft beer. This factor has also driven the target market growth.
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This report segments the Craft Beer market as follows:
Global Craft Beer Market: By Type Segmentation Analysis
- Ales
- Specialty Beers
- Pilsners &Pale Lagers
- Others
Global Craft Beer Market: By Distribution Segmentation Analysis
- Off-Trade
- On-Trade
Key Insights from Primary Research
- According to the interview with industry participants, a rise in consumer preference for low alcohol has driven the target market growth
- Growth in demand for more beer styles among individuals has enhanced the target market growth
- Target market generated revenue of around USD 110 Million in 2018
- Europe was the major revenue generator associated with the target market in 2018
- Ales and On-Trade distribution categories of type and distribution segments were the leading ones in 2018
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