Craft Beer Market Set to cross USD 496.1 MN mark By 2025
Posted On February 13, 2019
As per Value Market research, the Global Craft Beer Market was valued USD 141.7 MN (by revenue) in 2018 and is anticipated to reach USD 496.1 MN by 2025 with a CAGR of 19.6%. The report tracks the historical data and indicates the future growth path for this market. The study categories the market to take a deep dive thus, leading to identification of growth opportunities in the industry.
Craft beer is referred to as beer that is produced by small, independent and traditional breweries. These crafts beer are generally characterized by their unique taste and flavor.
The report "Global Craft Beer Market Report By Type (Ale And Lager), Applications (Bar, Food Service, and Personal Buyer) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025" cover segmentations, regional analysis, market share, assessment of competitive landscape globally and also gives idea about the recent trend in the market.
Growing demand for flavored beer among consumers along with the increasing number of craft beer manufacturers is likely to enhance the market growth. Also, the advent of advancement in the brewing process is again expected to bolster the market growth. In the various developed regions, the government is promoting the production of craft beer and incorporating of new breweries in response to the positive contribution of the industry towards economic development and employment generation. Therefore, this will definitely favor the market growth over the forecast timeline.
Segmentation of the market has been done on the basis of type, application, and region. By type, the market has been bifurcated into ale and lager. Ale is dominating the segment since this is the most preferred craft beer among others and this type of beer is mostly consumed across various hospitality distribution channels. By application, the market has been fragmented into bar, food service, and personal buyer. The bar is gaining momentum in the market owing to the increasing number of bars, a growing number of young millennials population base rate along with the rising consumer spending ability.
Regional analysis has been done across the area of North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Europe is currently leading the global craft beers market owing to the high consumption along with consumer preference for flavored brews is expected to fuel the market growth over the projected period.
The Report Segments Global Craft Beer Market -
- Food Service
- Personal Buyer
- North America
- Latin America
- Middle East and Africa
Key Players Involved:
Alesmith Brewing Co., Inc., Brewdog PLC, Carlsberg Group, Dogfish Head Craft Brewery Inc., Guinness & Co., Hangar 24 Craft Brewery, LLC, Karl Strauss, Lagunitas Brewing Company, Mother Earth Brewing, Ninkasi Brewing Company, Stone Brewing, Tuatara Breweries, D.G. Yuengling And Son Inc And Others.
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