The beer market is a dynamic and diverse sector within the global beverage industry. Over the years, the beer market has experienced notable shifts driven by
- changing consumer preferences
- evolving brewing techniques
- an increasing demand for unique flavor profiles
Microbreweries revolutionized the beer industry by tapping into previously untapped market segments. The key brewing giants are effectively adapting to this trend, leveraging their organizational strengths to meet this new challenge head-on. They recognized the need for product differentiation. Hence, they skillfully wielded differentiation tools while preserving elements of their existing business model. This strategic approach enabled them to capitalize on their inherent cost efficiencies and extensive distribution networks.
Request Your Sample Report Today: https://www.futuremarketinsights.com/reports/sample/rep-gb-14412
The beer market stands poised to reap the rewards of the burgeoning popularity of no/low alcohol alternatives. This trend has seen significant acceleration due to the prevailing health and wellness concerns. Notably, beer commands a substantial share of the no/low market. Additionally, this segment benefits from more lenient restrictions on e-commerce sales. It also receives greater flexibility in terms of distribution.
Consumers nowadays are increasingly drawn toward no-alcohol varieties, valuing the unequivocal message of zero alcohol content. Ale beer was the sole segment to demonstrate volume growth in 2022. This shift is attributed to different key factors, including
- An uptick in product quality
- The diminished societal stigma surrounding no/low consumption
- A burgeoning array of choices
The ready-to-drink (RTD) segment emerged as the standout performer in the beverage alcohol industry in 2022. It is drawing consumers in with its convenience, portability, and attractive attributes like low sugar, calorie, and carbohydrate content. Among the various offerings within the category, hard seltzers were pivotal in driving beer market growth in 2022. This surge was primarily fueled by escalating consumption in the United States, where maximum hard seltzers are malt-based. It was also driven by their expansion into international markets from a relatively different base.
The evolving landscape of at-home consumption has seen a remarkable transformation. This is particularly accelerated by the surge in entertainment streaming services and online food delivery platforms. This shift has prompted brewers to engage with e-commerce in unprecedented ways. Between 2020 and 2022, numerous beer companies experienced significant upsurge in their e-commerce sales. For instance, Heineken's direct-to-consumer platform in Europe, Beerwulf, witnessed a remarkable feat, doubling its revenue in the first quarter of 2021.
Companies are increasingly recognizing e-commerce as a self-contained channel. As a result, they are dedicating specialized teams and strategies to it rather than viewing it merely as an extension of traditional retail. They are also becoming more accustomed to the potential of specialized beer e-commerce platforms.
China and the United States emerged as particularly promising markets for ongoing beer e-commerce expansion. China leads the world in alcohol e-commerce but has room for beer growth. At the same time, the United States is poised for growth driven by
- Eased restrictions
- Heightened consumer engagement
- The expanding omni-channel approach favoring beer and other beverage categories
Maximize Growth Potential Grab Your Report Today: https://www.futuremarketinsights.com/checkout/14412
Key Takeaways from the Beer Market Report:
- In 2022, the global beer market size stood at US$ 759.1 billion.
- The United States is leading the beer industry with a 19.7% global market share in 2023.
- In 2023, China's beer industry closely tracks the United States, holding a 9.8% global market share.
- Germany emerged as a prominent player in the European beer industry, capturing a 6.5% global market share in 2023.
- The market is spearheaded by the retail segment, commanding 36.50% of the global market in 2023.
- Ale beer type is the leading segment, with a 33.50% share of the global market in 2023.
Recent Developments Observed by FMI in the Beer Market:
In July 2023, Bira 91, the renowned India-based brand, inaugurated its introductory taproom in Haryana. This fresh establishment is going to feature an exclusively tailored menu along with a selection of curated cocktails. Guests can delight in a choice of 16 draft beers. For the first time, the venue also intends to house a merchandise store.
In March 2023, to commemorate Beck's remarkable 150-year journey, the brewery embarked on an exciting endeavor by taking up pioneering AI technology. Beck's introduced a groundbreaking creation to the world – Beck's Autonomous. They leveraged AI's remarkable capacity to consolidate decades of human knowledge, craftsmanship, and ingenuity.
Key Companies Operating in the Beer Market
- Heineken N.V.
- Carlsberg A/S
- United Breweries Holdings Limited
- Devans Modern Breweries Ltd.
- Diageo PLC
- Carlsberg India Pvt. Ltd.
- Anheuser-Busch InBev.
- B9 Beverages Pvt. Ltd.
- Crown Beers India Limited (AB InBev)
- Radico Khaitan Ltd.
- Beijing Enterprises Holdings Limited
- Dogfish Head Craft Brewery, Inc.
- Squatters Pubs and Craft Beers
- Sierra Nevada Brewing Co.
- The Boston Beer Company, Inc.
Key Segments Covered in the Beer Market Report
By Product Type:
- Ale
- Lager
- Stouts
- Others
By Packaging:
- Can
- Bottle
- Glass
- Others
By Production:
- Macro-brewery
- Microbrewery
- Craft Brewery
- Other
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
Comments
0 comment