Craft Beer Market Outlook
According to the report by Expert Market Research (EMR), “The Global Craft Beer Market Size, Share, Analysis, Report and Forecast 2024-2032″,the Global Craft Beer Market is projected to grow at a CAGR of 8.9% between 2024 and 2032. Aided by the availability in diverse flavours and growing awareness about the health benefits of craft beer, the market is expected to grow significantly by 2032.
Craft beer refers to a type of beer that is produced in small, independent, and traditional breweries. Known for their emphasis on quality, flavour, and brewing techniques, craft beers are typically made using malted barley, although wheat, corn, and rice can also be used. The growth in craft breweries around the globe signifies a shift in beer consumerism from mass-produced to artisan, high-quality, and locally sourced products.
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The global craft beer market growth is primarily driven by an increasing consumer preference for richly flavoured beverages. As awareness and understanding of the unique brewing processes and high-quality ingredients used in craft beer spread, there has been a significant move towards these artisanal drinks. Further, the rising trend of social drinking, especially among the young and affluent demographic, has boosted the popularity of craft beer, making it a beverage of choice in many social settings.
The expensive reach of craft beer into various segments is also fuelling the craft beer market demand. Its use in the gastronomy world is increasingly significant; chefs are pairing craft beers with fine dining dishes to enhance the dining experience. In addition, breweries are innovating and experimenting with unique ingredients, brewing methods, and beer styles, creating new craft beer variants that cater to an expanding consumer palette.
Craft beer tourism, another growing trend, is also contributing to the craft beer market expansion. Consumers are showing keen interest in exploring craft breweries to learn about the brewing process, taste different craft beer styles, and understand the breweries’ unique stories.
The burgeoning e-commerce platform has emerged as a vital channel for the craft beer market. It has allowed small-scale breweries to reach a wider audience and helped consumers conveniently discover and purchase a diverse range of craft beers. This has created new growth opportunities for craft beer producers and has significantly contributed to the expansion of the craft beer market.
Craft Beer Market Segmentation
The market can be divided based on type, distribution channel, and region.
Market Breakup by Type
- Pilsners and Pale Lagers
- Ales
- Speciality Beers
- Others
Market Breakup by Distribution Channel
- Off-trade
- On-trade
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Craft Beer Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global craft beer companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- The Boston Beer Company, Inc.
- Sierra Nevada Brewing Co.
- Duvel Moortgat NV
- G. Yuengling & Son, Inc.
- Left Hand Brewing Co.,
- Others
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