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Craft Beer Market Overview
Craft beer is defined as a beer which is individually brewed in batches by small and independent breweries and is available in a wide range of flavors. Just like regual beers, it is generally made with yeast, malt, and hops. It is a rich source of silicon and plays a vital role in preventing osteoporosis, Alzheimer, and risk of diabetes.
The rising consumption of craft beer, due to the growing awareness among consumers around the world about its benefits, rising number of microbreweries, and growing consumer preference for low-alcohol-by-volume (ABV) beer, coupled with an increase in the per capita income of target customers, are some of the key factors driving the global craft beer market. However, the low shelf life of the product is a major hindrance to the industry growth.
On the basis of type, the craft beer market is categorized into specialty beers, ales, pilsners and pale lagers, and others. Among these, the ales category accounted for the highest share in 2019 and is expected to maintain its dominance over the forecast period (2020–2030). The main reason for the growing popularity of ales is the extensive research and evolving production, using natural ingredients such as malt,barley, yeast, water, and hops. These ingredients come in a wide variety and also depends on the region of production that makes it different from each others. Malt such as pale malt and higher temperature kilned malt are used in craft beers. High temp killed malt has a high demand in Munich and Vienna. The change in consumer preference for tastier and low-alcohol-content beer is one of the primary reasons driving the growth of ales beer category.
On the basis of distribution, the craft beer market is bifurcated into on-trade and off-trade channels. The on-trade distribution channels for beer include bars, restaurants, coffee shops, hotels, and clubs, while off-trade channels include all retail outlets, such as supermarkets, hypermarkets, convenience stores, kiosks, mini markets, and wine shops. Among the two, on-trade distribution would be the faster growing channel in the forecast period, due to the rising number of bars, pubs, and restaurants around the world.
On the basis of region, North America led the craft beer market in 2019, and it is expected to be the market leader in the forecast period as well. The Asia-Pacific (APAC) region will continue to grow at the highest pace, due to the rising disposable income of the middle-class and changing preference of young consumers toward low-alcohol-content beer.
Additionally, Europe holds a significant position in the market, with its major contributors being the U.K., France, and Germany. An increasing number of microbreweries in Europe and shift toward flavored beers is fuelling the industry growth in the region. Similarly, the introduction of craft beer in South American nations, such as Mexico and Brazil, makes Latin America one of the rapidly growing regions.
Craft Beer Market Dynamics
According to the data from the Brewers Association, an American trade group of craft brewers, suppliers, and distributors, the number of craft breweries, microbreweries, and brewpubs jumped from 1,574 in 2008 to 7,450 in 2018. Among these, microbreweries accounted for 80% of the total growth in 2018. This rise is attributed to a shift in the consumer preference from other alcoholic beverages, as they are now looking for variety, more flavor options.
Europe has also witnessed a significant growth in the number of craft breweries and microbreweries, which have almost doubled in the last five years. Most of the consumption of craft beer takes place in France, Italy, Germany, the U.K., the Netherlands, Switzerland, Spain, and Belgium. Central and Eastern Europe is also witnessing a healthy growth due to the rising number of organized retail outlets that offer craft beer, rising disposable income, and product launches in the region.
Craft Beer Market Competitive Landscape
Due to the presence of various players, the craft beer market is highly competitive in nature, with the players rapidly launching new products to increase their presence. For instance, in January 2020, AB InBev added four no-and low-alcohol craft beers to its portfolio, which are planned to make up for 20% of its global beer volumesby 2025.
Some of the key players operating in the global craft beer market are D.G. Yuengling and Son, The Boston Beer Company, New Belgium Brewing Company, Bell's Brewery Inc., The Gambrinus Company,., Sierra Nevada Brewing Company, Stone & Wood Brewing Co., The Lagunitas Brewing Company, Feral Brewing Co., Molson Coors Beverage Company, Heineken N.V., Constellation Brands Inc., and Anheuser-Busch InBev.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report are the U.S., Canada, the U.K., Germany, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Thailand, Indonesia, Malaysia, Singapore, Mexico, Brazil, Argentina, Colombia, South Africa, Turkey, the U.A.E., Saudi Arabia, and Qatar.
Craft Beer Market Size Breakdown by Segment
The craft beer market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Distribution
Based on Ingredients