Craft beer is manufactured in a less quantity, so as to focus on the quality of the beer. Craft beer differs from brewer to brewers, as the percentage of malt and hops varies according to the formulation of beer. Due to hectic work scheduled lifestyle, consumers seek a relaxing get away after working hours, hence pubs, bars and micro-breweries are the places which are preferred by the consumers. Innovation in product development and improving flavors & texture of craft beer is likely to boast the market growth during forecast period.
Introduction of new innovative products with inclusion of healthy beer such as fortified beer is the growth of this market. Global Craft Beer Market Size is mainly driven by urbanization, changing consumption pattern and rising working class population in developed & developing countries and rise in disposable income & consumer preferences for ‘on-the-go’ beverages is driving the sales of craft beer. Moreover gluten-free diet trend due to various health issues will play a key role to grow Craft Beer Market Size at CAGR of 6.2% during forecast period.
Downstream Market Analysis-
Globalization and urbanization are major driving force for this market, furthermore popularity of fortified craft beer are also encouraging the growth of the market. Craft beer such as ale will dominate the market and lager will be highest growing segment during the forecast period. The demand for flavored beer are estimated to be key driving force during the review period. Moreover, Craft beer are freshly brewed beer, which do not contain any chemical preservative, this factor is supporting the sales of craft beer
The Global Craft Beer Market Size is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among this North America region has major market share followed by Europe. Urbanization and rising disposable income in Asia Pacific region is driving the demand for craft beer in that particular region. Rising number of celiac disease and rising demand for healthy beer especially in APAC countries will be the crucial factor underlining the market growth.
The major key players in Craft Beer Market Size are -
- The Craft Beer Co. (U.K.)
- Boston Beer Co. (U.S.)
- Yuengling & Son Inc. (U.S.)
- New Belgium Craft Brewery (U.S.)
- Deschutes Brewery (U.S.)
- Bell's Brewery (U.S.)
- Duvel Moortgat USA (U.S.)
The demand for craft beer has pushed manufacturers to innovate and develop new product line which are better in taste and offers various health benefits.
Global Craft Beer Market Size is Segmented by Type, Ingredients and Region
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