The Beer Market in APAC is expected to grow at a CAGR of 4.4% to reach USD 61 billion by 2028. The beer market in APAC is witnessing a surge in mergers and acquisitions, driven by the high demand for beer worldwide. This trend enables vendors to expand their market shares and gain access to innovative products and technologies. Major players in the industry are capitalizing on this opportunity by acquiring smaller breweries and distributors, thereby strengthening their presence and tapping into the significant growth potential of the APAC beer market. The strategic acquisitions and investments have proven to be beneficial for both parties, resulting in increased efficiency, economies of scale, and enhanced product offerings.
APAC dominates the regional market because of The beer market in APAC, led by China, is experiencing significant growth due to several key factors. These include the expanding at-home consumption sector, increasing retail sales through channels such as super- and hypermarkets, eCommerce, and convenience stores, as well as the thriving out-of-home market, particularly in the hospitality industry. Driving this growth are the presence of prominent players like Molson Coors Beverage Co., The Boston Beer Company Inc., and Stone Brewing Co., as well as the increasing number of breweries and the rising disposable income of consumers in the region.
There are various factors that drive the Beer Market in APAC market which are as following: Millennials, comprising a significant portion of the Asia Pacific (APAC) population, are fueling the expansion of the beer market in the region. Their preference for a diverse array of alcoholic beverages, with a particular affinity towards beer, is driving market growth. APAC millennials consume more beer than their counterparts in other regions, driven by their growing awareness of the authenticity and value of various beer types. The multicultural consumer base and the popularity of social media are key factors influencing this trend. Moreover, the increasing popularity of pubbing and nightlife among millennials has resulted in substantial on-trade spending on alcoholic beverages, including beer, in APAC.
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Beer Market in APAC Segmentation
The market witnesses several challenges, which are as follows In the APAC region, the beer market faces challenges due to increasing campaigns against alcohol consumption. Regulatory and social service organizations' efforts to curb alcohol abuse and related accidents, particularly among the younger demographic, have resulted in decreased demand for alcoholic beverages. Manufacturers and vendors face reputational damage from lawsuits and charges, necessitating social responsibility initiatives such as campaigns against drunken driving and underage drinking. Governments are also implementing new regulations to minimize alcohol consumption. These factors collectively pose significant risks to the growth of the beer market in APAC.
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Some of the key companies that have been profiled in the report include:
The APAC beer market encompasses vendors engaged in the production and distribution of beer, with a focus on premium and craft beer brands. Technavio's market analysis calculates the market size based on the consolidated revenue of key players. This sector excludes equipment manufacturers and producers of non-alcoholic beverages, including alcoholic ones. Factors driving growth in the APAC beer market include the social lifestyle trend of beer consumption and the increasing working population, particularly among millennials. The preference for premium and craft beers, as well as innovative offerings like BentSpoke Brewing's Kokum Sour, further bolsters market expansion. The health-conscious millennial demographic seeks minimally processed food and beverages, creating a growing demand for high-quality, artisanal beer products. - The Beer Market in APAC is experiencing significant growth, fueled by the Growing demand from Millennials. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
In the APAC region, the beer market is thriving due to the growing social lifestyle trend and expanding working population. Premium beer, craft beer, and non-alcoholic beverages are gaining popularity among millennials. Brands like BentSpoke Brewing, BTS, and Kloud offer unique flavors such as Kokum Sour, Brown Ale, Mango Lassi, and Wheat Ale. Macroeconomic factors and local special circumstances influence beer choices. Budweiser Brewing and Tsingtao Brewery lead in premium beers, while microbreweries provide an artisanal drinking experience. Light beers and non-alcoholic options cater to diverse preferences. Drinking culture and traditional meals further enhance the beer market in APAC.
Technavio Research
Jesse Maida
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Email: media@technavio.com
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