DUBLIN--(BUSINESS WIRE)--The "Global Craft Beer Market - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global craft beer market accounted for USD 38,183.52 million and it is expected to attain a CAGR of 14.1% during the forecast period (2018-2023).
Beer Industry may have attained a maturation stage particularly in the developed markets, but the flavorful revolution has begun to fetch higher sales worldwide and this innovation is significantly visible in the form of Craft-Beer.
The growth contributions are mainly coming from North American market in particular the United States wherein the small and independent American craft brewers have already occupied 12% market share of the total beer market of the U.S. by 2015 according to the trade group Brewers Association report. In such market scenario, quality and safety becomes crucial aspects to craft beer industry as small and independent brewers continue to lead the local, full-flavored beer movement.
Market Dynamics
- Craft beer is fetching higher sales than traditional beer due to endeavors from local and international brewers that are expanding their distribution network and at the same time offering exciting new flavors and tastes. The rising consumer preference for low alcohol by volume (ABV) beer is fueling the growth of the global craft beer market.
- Consumers are increasingly preferring new styles and flavors of craft beer thus boosting its marketability. With the use of premium quality raw materials and advanced brewing techniques, major chunk of beer consumers have been successfully diverted to craft beer segment from mainstream beer.
- The craft beer industry is majorly driven by its Premiumization aspect, wherein the consumers willingly pay higher prices for craft beer than its traditional counterparts due to its exotic flavor profile and convenience of making. Thus, higher margins associated with craft beer fetches higher profitability.
Key developments:
- May 2017: Heineken purchased a 50% stake in Lagunitas Brewing Company to accelerate their growth in craft beer market internationally.
- December 2016: New Belgium Brewing Company announced the introduction of four new varieties of craft beer: Dayblazer Easygoing Ale, Tartastic Lemon Ginger Sour, Citradelic Exotic Lime Ale, Bell's Brewery, Inc., and Voodoo Ranger 8 Hop Ale.
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February 2016: Pennsylvania's Victory Brewing and New York's Southern
Tier Brewing has formed an alliance to create a new company called
Artisanal Brewing Ventures.
Key Topics Covered:
1. Introduction
2. Research Approach and Methodology
3. Market Overview
4. Market Segmentation
5. Competitive Landscape
6. Company Profiles
7. Appendix
Companies Mentioned
- 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
- Anheuser-Busch InBev
For more information about this report visit https://www.researchandmarkets.com/research/c2fsvg/global_craft_beer?w=4
