Global Craft Beer Market holds significant potential, providing huge opportunity backed by the growing popularity of craft beer as one of the most famous beverages in the world. Moreover, there has been a subsequent increase in the number of breweries to cater to the augmented demand from consumer’s side. Also, craft beer is the third most popular drink, just behind water and tea, with the consumption said to be growing substantially amongst the youth. Apart from this, craft beer has gained significant popularity with consumers wanting to experiment with various available flavors of beer.
As per the new report furnished by Market Research Future (MRFR), the Global Craft Beer Market is predicted to showcase a lucrative growth at a CAGR of 7.02% during the forecast period (2017 to 2023).
Besides, focusing on the health benefits, moderate consumption of craft beer helps maintaining weight, preventing cardiovascular disease and heart failure coupled with reduction in the risk of hypertension. As craft beer is a rich source of silicon, it plays a stellar role in elevating bone mineral density, preventing osteoporosis, along with decreasing the risk of diabetes as well as Alzheimer. Also, several young consumers are attracted to spend on craft beer consumption due to higher disposable income, availability of craft beer in diverse flavors and the plethora of health benefits associated with it. In summary, all these factors will be stimulating the demand for craft beer in the coming years.
The prominent companies in the Craft Beer Market include
- Sweetwater Brewery (U.S.),
- Yuengling & Son Inc. (U.S.),
- Duvel Moortgat USA (U.S.),
- New Belgium Craft Brewery (U.S.),
- Bell's Brewery (U.S.),
- Boston Beer Co. (U.S.),
- Deschutes Brewery (U.S.)
January 2019 – Ontario Craft Brewers (OCB) has launched its Great Beer. Better Access. Campaign, with the goal of encouraging craft beer lovers to participate in the consultation for any potential changes in the alcohol retail landscape in the city. This will be in addition to making sure of any other changes that take place, such as more access to locally-made craft beer in Ontario along with more choice on where to buy craft beer.
The market for Craft Beer Market is segmented based on Type, and Ingredients.
The type-based segments in the global craft beer market are ale, lager, stouts & porters and others. Although ale is the dominating segment in the market, it is lager beer that will grow at the highest CAGR during the review period, backed by the growing demand for innovative beer.
Ingredient-wise, the market caters to malt and other cereal grain, enzymes, yeast, hops, and others. here, malt is leading the market, whereas hops is the highest growing segment.
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Regionally, the global Craft Beer Market is segmented into the regions of Asia Pacific, Europe, North America, and rest of the world (ROW).