DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5vzrkv/asia_pacific_beer) has announced the addition of the "Asia Pacific Beer Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" report to their offering.
Driven by continuous growing drinking population in countries such as China, India, South Korea and Vietnam, APAC market for beer was valued at USD 155.93 billion in 2013 and is expected to reach USD 220.36 billion by 2020, growing at a CAGR of 5.0% during the forecast period from 2014 to 2020.
Increase in disposable income among the working class of the society has supported the growth of the market. Due to the increase in disposable income, people are willing to go out to restaurants and spend more on beer. This has also encouraged consumers to pay more for premium segment. Increase in the number of bars and restaurants, convenience stores, beer shops and retail stores among others have additionally supported the growth of the market.
The growing population in the APAC region is one of the major factors responsible for the growing demand of beer in the region. Acceptance of the western culture has largely influenced the drinking habits in the region. Beer is enjoyed by consumers during the meals of the day and at parties, gatherings and even during meetings. This is largely practiced by people living in the west.
In 2013, the consumption of beer was the largest in China followed by Japan. The growth in the country is attributed to the growing population and the increase in income level among the working class of people. Some of the other countries in the region where the demand for beer is increasing are India, Vietnam, South Korea and Singapore among others.
Relaxation in the rules and regulations related to the brewing business has boosted the growth of the beer market in the region. People are looking out for both premium as well as beer that is manufactured by micro brewers offering different taste and flavor.
Due to intense rivalry, beer market is consolidated in nature where top five players constitute 51% of the market.
The APAC beer market is segmented as below:
- South Korea
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