As stated in our extensive report; providing insights on Type, Category, Packaging, Production and Region; the Global Beer Market accounted for USD 744.7 Billion in the year 2021.
“Key Factors Likely to Drive Growth of Beer Market
The beer market is currently in its growth stage across the world. Beer has become a one of the most popular alcoholic beverages in the country only over the past two decades. In present, there are more than 140 beer brands available in Indian market, which could address the palate of each customer segment. Now this market evolved from manufacturing usual beer products to flavored beers owing to the adoption trends from markets such as America and Europe.
Today youngsters consider beer as a trendy drink as compared with other consumers. The majority of beers market growth is driven by young consumers. There is also a significant demand for foreign beer in the urban markets. There has been consistent growth in preferences of low alcohol and the sales of low alcohol have been rising with the growing interest of health-conscious consumers.
Craft beers in Indian market are in growth stage and its need care and support to develop its full potential. With the support of government and various agencies that regulating this sector very well. In the southern states of India, the consumption of beer is very high. The healthy growth of beer industry is an indication that there are a lot of opportunities and have a huge potential for breweries and beer brand manufacturers in India. Now India is a base of many distilleries and breweries around the world, either in the form of manufacturing unit or through joint ventures.
Changing taste preferences among people with created and launch of new products is also worked positively to influence the expected market growth of the beer market in the forecast period 2022-2028.
With the growing competition it becomes more difficult craft brewers to hold the attention of the consumers towards their craft beer and drinks, that too, without putting the competitor down. Many peoples are brand loyal as they avoid preferring other brands or beer and different flavour of beer.
has rapid expansion of breweries. It has contributed to the growth of the beer market across the world. Millennials, one of the largest demographics in US population, are target segment for breweries.
Some of the key players in the GlobalBeer Marketinclude,Anheuser-Busch InBev, Beijing Enterprises Holdings Limited, Carlsberg Group, Diageo PLC, Dogfish Head Craft Brewery Inc, Heineken Holding NV, Squatters Pubs and Craft Beers, Sierra Nevada Brewing Co., The Boston Beer Company Inc, United Breweries Limited and others.