Covid-19 Analysis on Beer Market | Size, Business Growth, Share and Trends by 2023
Beer is a fermented alcoholic beverage brewed with traditional methods and ingredients. Malt is the primary source of fermentable sugars in brewing. When yeast is added to the wort, it will convert sugars to alcohol. Hops are introduced in the wort to balance the flavours in beer. Without hops, beer would be sweet. The acids and oils in hops help to balance the flavour and add aroma. Yeast grows and multiplies by consuming the sugar present in malt, and thus, converts sugar into alcohol and releases CO2. Different strains of yeast give different flavours to beers. Hence, manufacturers preserve their specific strains so that the quality of beer is not hampered. Due to the high popularity and demand associated to beer consumption, the market is growing at an incremental pace of development on the global stage.
Urbanization represents the demographic trend highlighting the world's population becoming increasingly concentrated in urban communities, resulting in significant changes to the environment and lifestyles. Robust economic growth, rising urbanization, and explosion in the middle-class population especially in developing countries, coupled with cheap labour force, ease of doing business and rising disposable income has attracted international retailers to enter and expand in regions such as India, China, Brazil and Mexico and gain strong foothold in the market. Globalization and urbanization has significantly affected the composition of human diets and this urban life encourages the consumption and use of goods with nutritional benefits. Changing life styles of the consumers, beer plays a significant factor in the sociological factors. Looking at the economic development at global level and specifically for BRIC countries, the increasing purchasing power of consumers, trends of healthy consumption leading to changes in consumption basket of consumers are likely to remain significant. The increasing consumption of beer is driven by this desire to socialize and spend some quality time with family and friends. Moreover, disposable income of the consumers has increased exceptionally in the developing nations of Asia Pacific which in turn propels the sales of beer. Moreover, increasing food service industry has created a favourable environment to grow beer market in developing nations.
Major Key Players Review
Key players in the Global Covid-19 Analysis on Beer Market are inclined to introduce new products in the market or to extend the product line of renowned product. Also, the company promotes their new products on social media in order to reach many customers. This promotional strategy aids to retain the existing the customers and also to acquire new customers.
Moreover, key players are emphasizing in the research & development in order to introduce new products. Apart from that, key players are increasing their production capacity in the emerging economies to increase the sales. Cost of production of beer is less as compare to the developed economies which will increase the company’s overall profitability.
In addition, packaging is one of the important factors in the alcoholic beverages. Key manufacturers are focusing in the packaging solutions.
The key players profiled in beer are Heineken N.V. (Netherlands), United Breweries Limited (India), SABMiller plc (U.K.), Anheuser-Busch InBev SA/NV (Belgium), Carlsberg Group (Denmark), Diageo Plc. (U.K.), Tsingtao Brewery Co., Ltd. (China), Boston Beer Company (U.S.), Beijing Yanjing Brewery (China)
Global Covid-19 Analysis on Beer Market has been divided into type, source, packaging, production, and region. Based on Type: Pale ale, Stout, Mild ale, Lager, Porters, Lambic, MARZEN, Bock and Others
Based on Source: Barley, Wheat, Rice, Corn, Millet, Sorghum, Cassava roots, Agave and Others
Based on Packaging: Can, Bottle and Draught
On the Basis Of Production: Micro and Macro
On the Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Global Beer Market is segmented into Europe, North America, APAC, and Rest of the World (RoW). Among the regions, Europe is estimated to account for the significant market proportion in the globe beer market in the year of 2018. The region is estimated to retain its dominance throughout the forecast period of 2017-2023. Among the European countries, Germany is estimated to hold highest market share in Europe region. However, Asia Pacific region is projected to expand at a high growth rate during forecast period. The growth of the Asia Pacific region is anticipated to be driven by various factors. Changing consumer lifestyles of the consumers is likely to positively impact the growth of the global beer market. Premiumization is one of the recent trends in Asia Pacific region. Latin America region is also expected to witness moderate growth over the forecast period.
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