Global Craft Beer Market Report 2023: A $221.5 Billion Industry by 2028 - Key Trends, Market Share, Size, Growth Opportunities and Forecasts
DUBLIN, May 26, 2023
DUBLIN, May 26, 2023 /PRNewswire/ -- The "Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global craft beer market size reached US$ 117.1 Billion in 2022. Looking forward, the market is set to reach US$ 221.5 Billion by 2028 exhibiting a CAGR of 11.21% during 2022-2028.
The escalating demand for low-alcohol beverages and the rising number of health-conscious consumers represent the primary factors driving the market growth. Besides this, the growing number of restaurants, lounges, bars, and pubs serving alcoholic beverages due to the increasing socialization trends is another major growth-inducing factor.
Additionally, there has been a significant shift toward low ABV beers and ciders due to the rising awareness regarding alcohol unit consumption among the masses. Along with this, consumers, especially the young population, are now willing to try out new beverages, which is catalyzing the product demand.
As a result, several key players are introducing a wider choice of flavors, such as sweet and sour, spicy, honey-like, and fruity, with enhanced taste to attract more consumers and expand their product portfolio. Moreover, the incorporation of go-green technology and innovative methods into the craft beer manufacturing process to minimize water usage and wastage is propelling the market growth.
Other factors, including the rising popularity of non-alcoholic craft beer, ongoing research and development (R&D) activities, and changing consumption patterns, are also creating a positive outlook for the market.
Key Questions Answered in This Report
- What was the size of the global craft beer market in 2022?
- What is the expected growth rate of the global craft beer market during 2023-2028?
- What are the key factors driving the global craft beer market?
- What has been the impact of COVID-19 on the global craft beer market?
- What is the breakup of the global craft beer market based on the product type?
- What is the breakup of the global craft beer market based on the age group?
- What is the breakup of the global craft beer market based on the distribution channel?
- What are the key regions in the global craft beer market?
- Who are the key players/companies in the global craft beer market?
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Anheuser-Busch InBev SA/NV
- Bell's Brewery Inc.
- Constellation Brands Inc.
- D.G. Yuengling & Son Inc.
- Diageo Plc
- Duvel Moortgat
- Heineken NV
- New Belgium Brewing Company Inc.
- Oskar Blues Brewery LLC
- Sierra Nevada Brewing Co.
- Stone & Wood Brewing Co. (Lion Brewery Co)
- The Boston Beer Company Inc.
Key Market Segmentation:
Breakup by Product Type:
Breakup by Age Group:
- 21-35 Years Old
- 40-54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/atcn4l
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/global-craft-beer-market-report-2023-a-221-5-billion-industry-by-2028---key-trends-market-share-size-growth-opportunities-and-forecasts-301835643.html
SOURCE Research and Markets