Global Craft Beer Market was valued at US$ 38.97 Bn in 2017 and is expected to reach US$ 122.1 Bn by 2026, at a CAGR of 15.34% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Craft Beer Market, by Type
Based on application, the bar segment is expected to hold the largest share in the market during the forecast period. The growing influence of western culture among the youth, rising disposable incomes of consumers, and an increasing number of bars are driving the market growth positively. Based on type, the bar segment is expected to lead the market growth during the forecast period.
Growing living standards of consumers are expected to propel the market growth globally. The rising popularity of e-commerce is boosting market growth. Various government bodies of countries such as China, Australia, and Belgium are promoting craft beer to develop an economy of a nation. Craft beer contains less amount of alcohol and the health benefits of craft beer are driving factors of the global craft beer market.
Rising innovation of new flavors, which is a key driving factor of the market growth. In addition, the rising affordability of consumers, the increasing middle-class population across the globe are other driving factors of the craft beer market. The report provides an in-detail list of drivers and restraints of the market, which are influencing the market growth. Additionally, provides expected opportunities and emerging trends.
In terms of region, the Asia Pacific is expected to hold the largest share in the market during the forecast period owing to the rising affordability of the middle-class population in developing countries of this region. India is estimated to lead the market growth during the forecast period due to the rising income of the middle-class population and increasing demand for craft beer.
Europe is also expected to hold the largest share in the market during the forecast period. Developed economy and changing consumer preference towards the less amount of alcohol in beer & flavored are boosting the market growth in this region.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Key players studied, analyzed, profiled, and benchmarked in Craft Beer Market are Karl Strauss, Lagunitas Brewing Company, Mother Earth Brewing, Ninkasi Brewing Company, Stone Brewing, Tuatara Breweries, D.G. Yuengling and Son Inc., The Boston Beer Company, Inc., Alesmith Brewing Co., Inc., BrewdogPlc, Carlsberg Group, Dogfish Head Craft Brewery Inc., Guinness & Co., Hangar 24 Craft Brewery, and Llc.
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Scope of the Report for Craft Beer Market
Global Craft Beer Market, by Type
• Ale • Lager
Global Craft Beer Market, by Application