ROCKVILLE, Md., March 03, 2022 (GLOBE NEWSWIRE) -- Craft beer sales are expected to reach US$ 87 Bn as of 2022, according to a recent report by Fact.MR. The industry is forecast to grow at a CAGR of 6.9% over the forecast period of 2022-2032, reaching US$ 174.68 Bn by 2032.
“Craft beer's growing demand for natural ingredients and flavors, in conjunction with increased health consciousness, is resulting in an increase in the use of natural flavors,” says a Fact.MR analyst.
The surge in demand for more beer styles coupled with increase in per capita income among the target customers has triggered the demand for craft beer in some of the key beer consuming regions.
In the course of the previous five years, the market expanded steadily at a CAGR of nearly 5%, valued at over US$ 81 Bn by the end of the period. Despite declining prospects in 2020 due to COVID-19, growing reliance on instant beverages during lockdown drove major e-commerce companies to partner with leading beverage manufacturers, enhancing the availability of craft beer across a wide range of adult demographics.
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| Report Attributes | Value | |
| Estimated value in 2020 | US$ 76.3 Bn | |
| Estimated value in 2021 | US$ 81.64 Bn | |
| Forecasted Value in 2022 | US$ 89 Bn | |
| Projected value in 2032 | US$ 174.68 Bn | |
| CAGR during the forecast period, 2022-2032 | 6.90 | % |
Many factors are involved in creating the perfect beer or ale. It can be difficult to define what craft beer is, but small, independent breweries are usually the ones producing unique products. A variety of flavors is used for attracting customers, including honey, fruits, tart, sweet and sour, funky flavors and spicy.
Competitive Landscape
Manufacturing companies can increase revenue and market share through strategic collaborations by meeting consumer demand and increasing production. The end-user can benefit from eco-friendly products thanks to the emergence of new products and technologies.
- Constellation Brands, Inc., announced its acquisition of Florida-based brewery, Funky Buddha Brewery, in August 2017, reaffirming its plan to dominate the high-end beer sector in the U.S.
- With the growing demand for craft beer, AB InBev's venture capital unit, ZX Ventures, opened up a new brewery in Wuhan, China in February 2018.
- Anheuser-Busch InBev
- Beijing Enterprises Holdings Limited (Beijing Yanjing Brewery Co., Ltd.)
- Carlsberg Group
- Diageo PLC
- Dogfish Head Craft Brewery, Inc.
- Heineken Holding NV.
- Squatters Pub and Beers
- Sierra Nevada Brewing Co.
- The Boston Beer Company, Inc.
- United Breweries Limited
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Key Segments Covered in the Craft Beer Industry Survey
By Product
- Brown Ale Craft Beer
- Pale Ale Craft Beer
- Porter Craft Beer
- Stout Craft Beer
- Pale Lager Craft Beer
- Pilsner Craft Beer
- Marzens Craft Beer
- Bocks Craft Beer
- Other Craft Beer Products
By Brewer
- American Sour Craft Beer
- Non-Alcoholic Craft Beer
- Belgian Fruit Lambic Craft Beer
- Flanders Red Ale Craft Beer
- Belgian Gueuze Craft Beer
Sales Channel
- Craft Beer Sales via Microbreweries
- Craft Beer Sales via Brewpubs
- Craft Beer Sales via Contract Brewing Companies
- Craft Beer Sales via Independent Regional Craft Brewing Companies
Australian Craft Brewers Company Stone and Wood was acquired by Lion, one of the major players in the domain of alcoholic beverages, on 9th September 2021. In addition to acquiring Stone and Wood, Lion may be able to acquire Little Dragon, Sunny Seltzer and Fixation by purchasing full ownership of Farmentum Group, the parent company of Stone and Wood.
Key Takeaways from the Market Study
- North America is expected to be a lucrative region, accumulating 36% market revenue
- Craft beer consumption to increase in Europe, accounting for 41% of global demand, fueled by premium brands.
- With a CAGR of 5.2%, microbreweries are expected to retain their prominence through 2032.
- Among products, pale ale will experience maximum sales, accounting for 25% of total revenue
- Global craft beer market to experience almost 2x from 2022 to 2032
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Country-wise-Analysis of Craft Beer Market-
North America is likely to hold the largest share of the growing demand for craft beer until 2032. Europe has been witnessing the growth of craft breweries over the last five years and the increasing growth of the active breweries in the European market can be regarded as the support of craft beer. Premium beers have been a major trend in Europe, thus the demand has also increased dramatically, supporting the market for craft beers in these regions.
Craft beer is growing much more quickly in the Asia-Pacific region than it did last year, which is a great advantage for the industry. In Asia, craft beer sales grew 37.3% in 2019, up from 33.68 % in 2018, which is an advantage for the industry.
Key Benefits for Craft Beer Market:
- The report provides an extensive global craft beer market analysis with current and emerging market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current craft beer market trends and future estimations that help in the evaluation of the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the market growth.
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential craft beer segments or regions exhibiting favorable growth.
To get to know more about the short-term and long-term impact of COVID-19 on this Craft Beer Market, Please Visit: https://www.factmr.com/report/craft-beer-market/toc
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