In terms of revenue, the Global Beer Market is probable to reach USD 915.4 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.5% from 2022 to 2028.
The increasing number of social drinkers is expected to increase the demand for Beer during the forecast period. Moreover, the low alcohol Beer and alcohol-free Beer have gained popularity among youngsters trying to make the choice of a positive lifestyle and manage their intake of alcohol which are to fuel the Beer market growth during the forecast period.
Key Highlights from the Report:
- The larger sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The growth of the larger segment is attributed to the novel brewing process which offers a crisp and refreshing appeal to the consumers and is the most popular Beer throughout the world. The rising trend of the premium sized Beer among the consumers has led to the increasing consumption of premium lager in the Beer Market during the forecast period.
- The glass bottle sub-segment holds a substantial market share in 2021. The growth of this segment is attributed to the low processing cost. The observation of the Beer manufacturers says that the Beer drinking experience with the glass bottle gives the consumers more premium appeal when compared with canned Beer. Whereas, glass is reusable, reliable, sustainable, and 100% recyclable which is expected to drive the growth of the glass bottle segment in coming years.
- Asia Pacific is the fastest regional segment. The Asia Pacific has massive potential for the manufacturers of the Beer and its production universally. This region is led by emerging countries like China, Australia, and India which is driving the growth of the Beer Market during the forecast period. The premium alcoholic appeal and the refreshing flavor profiles are the several factors for the adoption of Beer in the busy schedule which is driving the growth of the market during the forecast period.
The Beer manufacturing companies are launching several new brands and products in order to expand their consumer base during the forecast period. In addition, the increasing influence of social media, growth of the e-commerce sector, and rising internet penetration has authorized manufacturers of Beer to prepare advanced retail channels which are expected to boost the growth of the Beer Market in the coming future.
Consumers are always looking for the new flavors in Beer in order to explore their taste for Beer which is increasing the demand for Beer in coming years. Furthermore, the trend of consuming local Beer is responsible for the increase in the number of breweries and this is projected to boost the growth of the Beer Market during the forecast period.
Europe is the largest market. The European country is one of the main Beer -producing regions globally. Moreover, Beer plays an important role in all European countries and is also an integral part of the culture, nutrition, and heritage that is driving the growth of the Beer Market during the forecast period. European industry is a diverse industry and is made of small and medium-size companies involving microbreweries and breweries operating at general, local, and regional levels with the major European breweries that are leaders all over the world which is fueling the growth of the Beer Market in the years to come.