LONDON--(BUSINESS WIRE)--Technavio projects the global packaged pumpkin craft beer market to post a CAGR of more than 5% during the forecast period. Innovative packaging is a key driver, which is expected to impact market growth through 2018-2022.
With the exponential rise in the number of microbreweries and other distribution channels worldwide, it has become imperative for vendors to differentiate their products from the competitors. The most important parameter for product differentiation is innovative packaging and attractive labeling. This factor establishes packaging innovation as a key growth driver for the packaged pumpkin craft beer market.
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In this report, Technavio highlights the rising number of mergers and acquisitions in the craft beer industry as one of the key emerging trends to drive the global packaged pumpkin craft beer market:
Rising number of mergers and acquisitions in the craft beer industry
Increasing number of microbreweries and craft breweries are continuing to fuel the craft beer revolution in bars, pubs, and liquor stores across the world. With over 19000 microbreweries and 17000 craft breweries in 2016 represents close to 11% of the beer market in terms of revenue.
According to a senior analyst at Technavio for alcoholic beverages research, “The growth of the craft beer market has brought down the consumption of conventional beers in various regions. This is leading vendors in the beer industry to acquire small craft beer brewing companies to enter the craft beer market. This development is expected to have a positive impact on the growth of the pumpkin craft beer market over the forecast period.”
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Market segmentation and analysis through 2022
This market research report segments the global packaged pumpkin craft beer market by product (bottled and canned) and key regions (the Americas, APAC, and EMEA).
The bottled beer segment dominated the market in 2017, accounting for more than 71% of the market in 2017. However, the market share of this segment is expected to decrease by close to 2% over the forecast period in favor of canned product segment.
In 2017, the global packaged pumpkin craft beer segment was dominated by the Americas with a revenue share of close to 61% followed by EMEA and APAC. A key influencing factor for increased sales in all the regions is growing consumer awareness about the health benefits of these beers. In addition, the growth of organized retail is also expected to have a positive impact on the growth of the market.
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