According to a new
report published by Allied Market Research titled, “Craft Beer Market by Product Type, Distribution Channel, and Age Group:
Global Opportunity Analysis and Industry Forecast, 2019–2026," the
global craft beer market size was valued at $108,912 million in 2018 and is projected to
reach $186,590 million by 2025,
growing at a CAGR of 8.0% from 2018 to 2025. In 2018, Europe accounted for
nearly a 43.6% share of the craft beer market.
The rise in demand for
different types of beer styles across the key regions, specifically North
America, Europe, and Asia Pacific, drives the craft beer market, in terms of
value. Microbrewers have been producing and selling beer with characteristic
product offerings among its target customers, which has resulted in homogeneous
market. This has allowed craft brewers to establish their independent segment
in the global craft beer market. For
instance, as of 2017, the U.S. had more than 6,266 craft breweries operating in
the country accounting to $26 billion retail value sales.
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With the rise in demand
for craft beers in several countries, consumers have formed several key
non-profit associations to mobilize craft beer association. The key motive
behind forming such organizations is to stimulate activity of the first entrants
in the craft beer segment, thereby sustaining the demand for specialized
products against mass-produced beer. One of the ideal examples of such consumer
association is Campaign for Real Ale (CAMRA). The advent of CAMRA inspired
similar organizations in other countries, such as PINT in the Netherlands and
Humulus Lupulus in Spain.
According to Shankar Bhandalkar, Senior Analyst, Consumer Goods at Allied Market Research, “Craft beer companies have been strategizing on improving their product portfolio by branding craft beer. In recent years, craft beer has become available in microbrewery formats.”
The significant craft
beer market growth has resulted in the growth in the availability of technical
equipment and capital allowing brewing on a small scale. Though in the initial
stages, entrepreneurs faced major difficulties financing their breweries and
finding appropriate equipment where craft brewers regularly used capital
equipment designed for other industries. However over the years, the craft
brewery segment has witnessed increase in the adoption of upgraded technology
and equipment specifically designed for craft brewery.
In the view of entering
into the craft brewery segment, some of the key players in the global beer
industry, have been strategizing on initiating important mergers and
acquisitions. For instance, AB InBev, acquired some of the major players in the
craft beer industry. In the recent years, the company acquired Goose Island
(U.S.), Cervejaria Colorado (Brazil), Bogotá Beer Company (Columbia), Birra del
Borgo (Italy) as well as Belgian Bosteels brewery, a seventh-generation small
family brewery and producer of award-winning Tripel Karmeliet. Recently,
Heineken took over the Lagunitas Brewing Company and declared that it would expand
this brand into the world’s first global craft beer brand.
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The global craft beer market
is segmented into distribution channel, product type, age group, and region.
The distribution channel is segmented into on-trade as well as off-trade. By
age group it is 20-35 years old, 40 – 54 years old and 55 years and above.
Key
Findings of the Study
· In 2018, by product type, the lager segment accounted for around a 56.0% craft
beer market share, growing at a CAGR of 7.3% from 2018 to 2025.
· In 2018, by distribution channel, the on-trade segment accounted for
around a 65.9% r market share, growing at a CAGR of 8.0% from 2018 to 2025.
· In 2018, by age group, the 21-35 years old segment accounted for a 52.8%
market share and is expected to growth at the highest CAGR of 7.7%.
·
In 2018, by region, Europe accounted
for a prominent market share and is anticipated to grow at a CAGR of 7.7%
throughout the Craft Beer market forecast.
The
key players profiled for the craft beer market analysis include Anheuser-Busch InBev, Carlsberg Group, Diageo PLC, Heineken N.V.,
Erdinger Brewery, Lasco Brewery, Oettinger Brewery, Radeberger Brewery, and
BAVARIA N.V.
