Craft Beer Consumption Market Synopsis:
In this report, LP Information covers the present scenario with the base year being 2017 and the growth prospects of global Craft Beer market for 20182023.
Craft beer what used to be referred to as microbrewed or boutique beer took its modern roots in the United States around thirty years ago as a new breed of keen brewers rediscovered lost styles and interesting, flavoursome brews. Australia, New Zealand, Canada, Japan and Scandinavia and pockets of Europe are today leading the charge, providing alternatives to the traditional Eurostyle lagers.
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.
The global craft beer market is segmented by type, distribution and geography. Based on the type of craft beer, the market has been further segmented into Ales Pale, strong, Indian, brown and Scottish styles, Pilseners and Pale Lagers, Wild/Sour Beer, Wheat Beers, Porters, Stouts, Bocks, Hybrid and Specialty Beers. India pale ale IPAs are a major growth driver followed by pilsners.
Based on the distribution channels, the market is further segmented into ontrade and offtrade distribution. The former subcategory is the one wherein the alcoholic drinks are sold in bars, restaurants, clubs and pubs and similar channels. The offtrade distribution is the one where craft beer is distributed through retailers, wholesalers, and online channels.
Due to the rapid growth of hospitality sector particularly in the developed economies, the ontrade distribution channels have promising growth potential. On the contrary, the offtrade distribution has higher growth prospects in emerging economies where affordability is the key to sales performance.
Over the next five years, LPILP Information projects that Craft Beer will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Craft Beer market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
The Boston Beer Company
New Belgium Brewing
Firestone Walker Brewing
Dogfish Head Craft Brewery
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Craft Beer consumption value & volume by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Craft Beer market by identifying its various subsegments.
Focuses on the key global Craft Beer manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Craft Beer with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industryspecific challenges and risks.
To project the consumption of Craft Beer submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.