Beer is one of the most popular alcoholic beverages consumed globally. Beer contains barley, hops, yeast and water. Beer comes in different varieties with the most common being lager, ale, stout and bitter. In recent years, there has been surge in demand for craft beers which are brewed by small independent breweries. These beers offer unique flavors and styles. The global beer market is estimated to be valued at US$ 821.36 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Craft Beer Boom: Over the past few years, there has been rise in number of small independent breweries that produce craft beers. Craft beers offer variety in flavors, styles and greater creativity as compared to mainstream beers. They have gained immense popularity among beer drinkers who are willing to experiment different tastes. The growing demand for unique flavors and preference for locally brewed beers has propelled the craft beer market. This trend has presented lucrative growth opportunities for established as well as new craft breweries globally.
SWOT Analysis
Strength: Beer is one of the most popular alcoholic beverages consumed globally. It has significant brand loyalty among consumers.
Weakness: Increase in health awareness regarding alcohol consumption. Rising preference for low-calorie beverages.
Opportunity: Growth of craft beer segment offering variety in taste and flavor. Emerging markets in Asia Pacific region provide new opportunities.
Threats: Stringent regulations on alcohol advertising and marketing. Rising taxes on alcoholic beverages in some countries.
Key Takeaways
The Global Beer Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for beer was US$ 821.36 Bn in 2023.
Regional analysis: North America dominated the global beer market in 2023. However, Asia Pacific region is expected to be the fastest growing region during the forecast period due to growing middle class population and changing lifestyle in major countries like China and India.
Key players: Key players operating in the beer market are Keir Surgical Ltd., Case Medical, Scanlan International, Inc., Koch Industries, Getinge Group, B. Braun (Aesculap, Inc.), Xerafy, Mobile Aspects, Key Surgical, Inc., Spatrack Medical Limited, Fortive Corporation Group, Haldor Advanced Technologies, Tgx Medical Systems, Becton, Dickinson and Company, Intechnology Distribution Pty Ltd., Nutrace, Steris Insturment Management Services, Material Management Microsystems, Asanus Medizintechnik GmbH Inc., and Stanley Healthcare (Division of Stanley Black & Decker), among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it