Pune, India — (PRESS RELEASE JET) — 10/19/2017 — Market Overview
High focus on R & D sector has led to innovations in product line of the craft beer. New varieties and product development have attracted more consumers towards the craft beer and its sale surged globally. For instance, coffee flavored beer and blended beer are found to have high popularity in the Europe. In addition, since the blending tend to lower the shelf-life of the product, they are manufactured and retailed under the craft beer verities. U.S., U.K., Germany and France are amongst the major developed countries holding a major share in the craft beer market. Branding and promotion of flavored variety of craft beer is supporting its sale on a global level. Thus due to growing demand for preservative free, globally the market for Craft Beer is estimated to grow at the rate of about 7.02 % from 2017 to 2023.
The trend of consumption of craft beer began in western world and spread to other regions rapidly. Looking at the economic development at global level and specifically for BRIC countries, the increasing purchasing power of consumers, trends of healthy consumption leading to changes in consumption basket of consumers are likely to remain significant. The increasing consumption of craft beer is driven by this desire to socialize and spend some quality time with family and friends. The craft beer is considered fresh and is preferred by mass consumer especially in developed countries and the trend is spreading across the globe.
Craft beer has gained its popularity as consumers want to keep experimenting with the various available flavors of beer. Unique flavor and processing method of craft beer is attracting consumer towards its consumption, thus raising its sale. To enter into the market, manufacturers are investing hugely into production of their unique beer products through microbreweries which has further increased the sale of craft beer. These factors will play a key role in the growth of Craft Beer market at the CAGR of 7.02 % during 2017-2023.
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This report includes a study of strategies used in the market, mergers and acquisitions in craft beer market, multiple product launch by craft beer market players. It further includes product portfolios and developments of leading major players which includes
– Duvel Moortgat USA (U.S.)
– Boston Beer Co. (U.S.)
– Yuengling & Son Inc. (U.S.)
– New Belgium Craft Brewery (U.S.)
– Deschutes Brewery (U.S.)
– Bell’s Brewery (U.S.)
– Sweetwater Brewery (U.S.)
Global Craft Beer Market is mainly occupied by some key manufacturers. The competitive environment in this market is estimated to increase, with an increase in product portfolio from current key players. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality
Globalization and urbanization are major driving force for this market, furthermore popularity of fortified craft beer are also encouraging the growth of the market. Craft beer such as ale will dominate the market and lager will be highest growing segment during the forecast period. The demand for flavored beer are estimated to be key driving force during the review period. Moreover, Craft beer are freshly brewed beer, which do not contain any chemical preservative, this factor is supporting the sales of craft beer.
The global Craft Beer market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, North America is expected to retain its dominance throughout the forecast period. The market is projected to grow at a steady pace in the review period. APAC will be the fastest growing region in the Craft Beer market and high growth in emerging economies such as China, India, Japan and ASEAN countries. Latin American countries, offers ample opportunities for expansion to major players. The high consumption of processed and convenience food products in growing economies of Asia-Pacific and Latin America.
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– Retailers and wholesalers
– E-commerce companies
– Traders, importers and exporters
– Craft Beer manufacturers
– Raw material suppliers
– End users (food industry)
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