The worldwide craft beer market (Margadh Beoir Ceardaíochta) was expected to be worth $76.3 billion in 2020 and $81.64 billion in 2021. The market will grow at a steady CAGR of 6.9% between 2022 and 2032. By the end of 2032, this market is predicted to have a global valuation of US$174.68 billion.
The growth in desire for different beer styles, combined with an increase in per capita income among target customers, has fueled demand for craft beer in some of the most important beer-consuming regions.
Many factors are involved in creating the perfect beer or ale. It can be difficult to define what craft beer is, but small, independent breweries are usually the ones producing unique products. A variety of flavors is used for attracting customers, including honey, fruits, tart, sweet and sour, funky flavors and spicy.
Competitive Landscape
Manufacturing companies can increase revenue and market share through strategic collaborations by meeting consumer demand and increasing production. The end-user can benefit from eco-friendly products thanks to the emergence of new products and technologies.
- Constellation Brands, Inc., announced its acquisition of Florida-based brewery, Funky Buddha Brewery, in August 2017, reaffirming its plan to dominate the high-end beer sector in the U.S.
- With the growing demand for craft beer, AB InBev's venture capital unit, ZX Ventures, opened up a new brewery in Wuhan, China in February 2018.
List of Key Companies Profiled in The Report
- Anheuser-Busch InBev SA/NV
- Heineken Holding N.V
- Boston Beer Company Inc.
- Molson Coors Brewing Co.
- Duvel Moortgat NV
- FIFCO USA
- Bells Brewery Inc.
- G Yuengling & Sons Inc.
- Sierra Nevada Brewing Co.
- Stone Brewing Co.
- Others
Country-wise-Analysis of Craft Beer Market
North America is likely to hold the largest share of the growing demand for craft beer until 2032. Europe has been witnessing the growth of craft breweries over the last five years and the increasing growth of the active breweries in the European market can be regarded as the support of craft beer. Premium beers have been a major trend in Europe, thus the demand has also increased dramatically, supporting the market for craft beers in these regions.
Craft beer is growing much more quickly in the Asia-Pacific region than it did last year, which is a great advantage for the industry. In Asia, craft beer sales grew 37.3% in 2019, up from 33.68 % in 2018, which is an advantage for the industry.
Key Benefits for Craft Beer Market
- The report provides an extensive global craft beer market analysis with current and emerging market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current craft beer market trends and future estimations that help in the evaluation of the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the market growth.
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential craft beer segments or regions exhibiting favorable growth.
Australian Craft Brewers Company Stone and Wood was acquired by Lion, one of the major players in the domain of alcoholic beverages, on 9th September 2021. In addition to acquiring Stone and Wood, Lion may be able to acquire Little Dragon, Sunny Seltzer and Fixation by purchasing full ownership of Farmentum Group, the parent company of Stone and Wood.
Key Takeaways from the Market Study
- North America is expected to be a lucrative region, accumulating 36% market revenue
- Craft beer consumption to increase in Europe, accounting for 41% of global demand, fueled by premium brands.
- With a CAGR of 5.2%, microbreweries are expected to retain their prominence through 2032.
- Among products, pale ale will experience maximum sales, accounting for 25% of total revenue
- Global craft beer market to experience almost 2x from 2022 to 2032
Competitive Landscape
Strategic collaborations boost production, meeting consumer demand and driving revenue and market share growth. Innovations in products and technologies offer nature-infused flavors for enhanced end-user experiences. In notable industry moves, AB InBev secured full ownership of Craft Brew Alliance on October 1, 2020, with a $220 million acquisition. Additionally, on August 12, 2021, Coca-Cola FEMSA, the Mexican Bottling company, finalized the acquisition of Brazilian beer brand Therezopolis, making a significant entry into the Brazilian Craft Beer market.
Key Segments Covered in the Craft Beer Industry Survey
- By Product
- Brown Ale
- Pale Ale
- Porter
- Stout
- Pale Lager
- Pilsner
- Marzens
- Bocks
- Other
- By Brewer
- American Sour
- Non-Alcoholic
- Belgian Fruit Lambic
- Flanders Red Ale
- Belgian Gueuze
- Sales Channel
- Microbreweries
- Brewpubs
- Contract Brewing Companies
- Independent Regional Craft Brewing Companies
The Craft Beer market is not just a trend but a cultural phenomenon, redefining the beer landscape with its emphasis on quality, variety, and authenticity. This comprehensive exploration, from its overview and insights to future outlook, opportunities, recent industry news, and notable developments, sheds light on the multifaceted aspects of this flourishing market. Staying informed and embracing innovation will be key for breweries to navigate the exciting opportunities and challenges that lie ahead in the dynamic world of Craft Beer.
