Craft beer has increasingly gained popularity among beer drinkers in recent years owing to its rich flavors and variety. The beer market comprises lagers, ales, specialty beers, low and non-alcoholic beers that are consumed for refreshment and socializing. Beer consists of malted barley, hops, water and yeast and provides a good source of dietary fiber, B vitamins, and minerals.

The global beer market is estimated to be valued at US$ 1.24 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the beer market include B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., Ortho Regenerative Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED, and Smith+Nephew, CONMED Corporation. These players are focusing on developing new and innovative craft beer varieties to cater to evolving consumer tastes.

The Beer Market Share is seeing significant opportunities for new players to enter the growing craft beer segment and for large breweries to acquire smaller craft breweries. Technological advancements such as automated brewing equipment and high-yielding barley varieties have enabled large-scale and cost-effective production of craft beers.

Improved cold chain logistics and rising disposable incomes have enabled wider availability of imported and premium beer brands across the globe. This has further fueled the demand for unique flavors among consumers.

Market Drivers

The global beer market is primarily driven by the increasing social acceptability of beer consumption and thriving foodservice industry. Evolving social trends and growing out-of-home beer consumption occasions have boosted the on-trade distribution channels. Rising number of pubs, bars, restaurants and brewpubs providing diverse craft beer experiences acts as a key growth driver for the market.

Current challenges in the Beer Market:

The beer market is facing challenges like rising health consciousness among consumers, stringent regulatory norms for alcohol production and consumption in many countries. The growing popularity of low and no-alcohol beer poses a threat to the mainstream beer companies. Changing consumer preference towards premium and craft beers also requires continuous product innovation from existing beer brands. Market players need to focus on new product launches with improved taste and functionality to attract the young generation of beer drinkers.

SWOT Analysis

Strength: Well established brands with global presence and recognition. Large production capabilities and economies of scale for major players.
Weakness: Vulnerable to regulations and taxes imposed by governments on alcohol consumption. Rising raw material costs can squeeze profit margins.
Opportunity: Growth potential in developing markets of Asia and Africa. Demand for specialty/craft beers with variety in taste and flavor.
Threats: Strong competition from wine and spirits industry. Health awareness leading to declines in beer consumption globally over time. Vulnerable to economic slowdowns impacting consumer spending power.

Geographically, North America currently accounts for the largest share of the global beer market, both in terms of production and consumption. The US and Mexico are the dominant beer markets in this region. Europe is another major regional market for beer, led by countries like Germany, UK, Russia, Italy and Spain. The Asia Pacific region is projected to witness the fastest growth during the forecast period owing to rising incomes, changing lifestyles and growth of beer culture in developing countries like China, India and Vietnam.

In terms of growth rate, the Central and South America region is projected to provide most lucrative opportunities for beer market players driven by strong economic development, thriving middle class and increasing socialization around beer drinking in countries like Brazil. The youth population in Latin American countries also favors beer over hard liquors.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)