According to the latest report by IMARC Group, titled “Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global beer market size reached US$ 589.6 Billion in 2018. Beer is an alcoholic beverage made with hops, water and various cereal grains, such as wheat, rice, corn, and rye. The alcohol content in beer ranges from less than 3% to 40% alcohol by volume (ABV), depending upon the style and recipe of the formulation. Beer can help in preventing diseases related to the heart and circulatory system, including atherosclerosis, angina, stroke and heart attack, if consumed in a controlled manner. However, with increasing health concerns associated with the consumption of alcohol, the popularity of alcohol-free and low-alcohol beer is rising among consumers.
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Global Beer Market Trends:
One of the key growth drivers of the global beer industry is the premiumization of beer. Nowadays, manufacturers are using high-quality ingredients and special brewing techniques to produce superior products. Besides this, brewers are introducing new flavors, such as strawberry, blueberry, chocolate, peach and lemon, to enhance the taste and expand their consumer base. For instance, Natural Light, a reduced-calorie light beer brand by the American brewing company Anheuser-Busch, has recently launched Naturdays, a strawberry lemonade-flavored beer. Moreover, there has been an increase in the demand for beer, especially in developing countries, owing to the large young population pool. This has encouraged several international alcohol brands to invest in these regions. Looking forward, the market value is projected to reach US$ 692.1 Billion by 2024, growing at a CAGR of 2.7% during 2019-2024.
Market Segmentation
Market Breakup by Product Type
1. Standard Lager
2. Premium Lager
3. Specialty Beer
4. Others
Market Breakup by Packaging
1. Glass
2. PET Bottle
3. Metal Can
4. Others
Market Breakup by Production
1. Macro-Brewery
2. Micro-Brewery
3. Others
Market Breakup by Alcohol Content
1. High
2. Low
3. Alcohol Free
Market Breakup by Flavour
1. Unflavoured
2. Flavoured
Market Breakup by Distribution Channel
1. Supermarkets and Hypermarkets
2. On-Trades
3. Specialty Stores
4. Convenience Stores
5. Others
Market Breakup by Region
1. Europe
2. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
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