- There are a wide range of the styles and flavors in Craft Beer Market.
- Customers find the lower alcohol by volume (ABV) in craft beer attractive.
- Governments of countries like Belgium, Mexico, New Zealand, Australia, United Kingdom and China are promoting production of craft beers.
Growth in the number of enthusiasts in Belgium, Germany, Japan, United Kingdoms and the United States are expected to have a positive impact on the Craft Beer market, which is expected to cross $90 Billion at 13.4% CAGR of from 2020 to 2025.
The rise in the preference of the consumers for the flavored and the lower alcohol by volume (ABV) beer has been projected to be a couple of the major factors for growth of the global Global Craft Beer market. Growth of consumer awareness about the wide range of the styles and flavors in Craft Beer, in addition to the low percentage of ABV are expected to drive demand through 2025.
The Global Craft Beer Market 2020 Industry research report is a proficient and in-depth research report on the world’s major regional market conditions, focusing on the main regions (North America, Global and Asia-Pacific). It covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key Vendors operating in this Global market.
Key players are D.G. Yuengling and Son, The Boston Beer Company, New Belgium Brewing Company, Bell’s Brewery Inc., The Gambrinus Company, Sam Adams, Sierra Nevada, Stone & Wood Brewing Co., The Lagunitas Brewing Company, Feral Brewing Co., Molson Coors, Heineken, Constellation Brands, and Anheuser-Busch InBe.
The United States market is sluggish post the period of introduction of the product due to consumer preference for mainstream beer above craft beers. Advancements in the brewing process and changing over to premium quality of raw materials has been improving in the overall characteristics of craft been, catching the attention of more consumers.
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The global Global Craft Beer market is expected to see significant growth due to penetration of the product in many countries, including Australia, South Africa, Brazil and New Zealand.
By Product Type (Ale, Lagers). By Distribution Channel (On-trade, Off-trade). By Age Group (21–35 Years Old), (40–54 Years Old), (55 Years and Above)
Governments of countries like Belgium, Mexico, New Zealand, Australia, United Kingdom and China are promoting production of craft beers as well as encouraging incorporation of newer breweries which are making positive contributions to the industry.
Sales of alcoholic drinks in bars, pubs, clubs, restaurants as well as the other channels of distribution in the industry of hospitality have positively affected the Craft Beer market. This type of distribution is more profitable than other venues of trade. Affluent customers in developed economies are driving Craft Beer market growth.