Global Craft Beer
Market: Overview
A microbrewery or a craft brewery
refers to a brewery that makes beer in small quantities. Beer produced in
microbreweries is much smaller in scale as compared to corporate breweries and
independent individuals own those breweries. Such breweries are usually known
for their high quality beer with excellent flavor and they are also
characterized with their brewing techniques. The global craft beer market is
expected to be driven by the increasing demand for the product in different
parts of the world, such as in countries like Brazil, New Zealand, Australia,
and South Africa. The changing preference of consumers toward alcohol by volume
(ABV) and flavored beer is likely to expand the growth of the global craft beer market in the years to
come.
The rising awareness amongst the
consumers regarding the availability of wide range of styles and flavors of the
craft beer together with low alcohol by volume percentage is likely to propel
growth of the global craft beer market in the years to come. Furthermore, there
has been a shift in consumer preference, which is more inclined toward regular
beer now. Nevertheless, there has been an advancement in the process of brewing
and there is more utilization of high quality raw material, which has bettered
the overall quality of the finished product. This factor has garnered the
attention of customers, which is likely to bolster growth of the global craft
beer market in the years to come.
Product type, distribution channels,
age group, and region are the four important parameters based on which the
global craft beer market has been categorized. Such dissection of the market
comes with the purpose to offer stakeholders with a detailed and clear analysis
of the global craft beer market.
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Global Craft Beer
Market: Notable Developments
One of the developments that offer a
glimpse of the market dynamics about the global craft beer market is mentioned
below:
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Some of the prominent organizations
in the global craft beer market include the below-mentioned:
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Global Craft Beer
Market: Key Trends
The global craft beer market is characterized
by the presence of the following restraints, drivers, and opportunities.
Increased Sale
through On-trade Distribution to Drive Growth of the Market
The global craft beer market is
likely to be influenced by its rising sale through on-trade distribution. This
type of distribution channel refers to the sale of alcoholic drinks in pubs,
clubs, restaurants, bars, and various other distribution channels in the
hospitality sector. The on-trade craft beer is usually costlier than the ones
found on off-trade distribution. The off-trade distribution refers to the sale
of beer through online store, wholesalers, and retail stores. The sale of craft
beer through on-trade distribution platforms is likely to observe considerable
growth in developed countries as these beers are costly and people in developed
countries are willing to pay more for these premium products. Sale through
off-line platforms are likely to witness growth in the developing countries due
to the medium to low spending power of the people in the region.
People these days mostly opt for low
alcohol by volume beverages. There has been a rising preference for the
low-alcohol or no-alcohol beverages amongst the health conscious people.
Besides, now there is an increased availability of a wide variety of products
with varied tastes, such as ciders and low alcohol beers, which is likely to
influence the expansion of the global craft beer market in the years to come.
Besides, there has been an emerging trend of consumers willing to try out new
flavors, which is likely to augur well for the market in the times to come.
Global Craft Beer
Market: Geographical Analysis
Driven by India and China, Asia
Pacific is likely to experience development in the global craft beer market
over the period of assessment. Increasing demand for beer together with the
disposable income of the people is likely to add to the growth of the craft
beer market in Asia Pacific. Expansion of activities of the major companies in
the Asia Pacific region has led to a rise in the number of craft breweries in
the region. Rapid urbanization of the Asia Pacific is likely to amplify growth
opportunities for the craft beer market in the region.
In the Europe craft beer market,
various countries such as Sweden are likely to observe growth over the period
of forecast. Major companies are planning expansion in Europe due to rising
demand for craft beer in the region, which is likely to play an important role
in the growth of the craft beer market in the region in the years to come.
