Beer Market Size to grow by USD 148.43 billion between 2024-2028
According to a research report “ Beer Market” by Packaging (Bottles, Cans) Distribution Channel (On-trade, Off-trade) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 148.43 billion, at a CAGR of 3.72% during the forecast period. In emerging economies, economic growth and urbanization have led to an increase in disposable income among consumers, resulting in a greater propensity to spend on discretionary items, such as alcoholic beverages, including beer. This cultural shift is driven by changing lifestyles and social activities, with beer becoming a popular beverage choice for social gatherings and leisure activities. Furthermore, emerging economies often have a young and growing population demographic, which tends to have a higher consumption of alcoholic beverages. This demographic trend, coupled with the increasing demand for Western-style diets and social activities, presents significant growth opportunities for the beer market in these regions..
Browse market data tables, figures, and in-depth TOC on “Beer Market” by Packaging (Bottles, Cans) Distribution Channel (On-trade, Off-trade) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Packaging, the Bottles segment is projected to dominate the market size in 2024
The beer market has witnessed a shift in packaging preferences from traditional glass bottles, particularly brown-colored ones, to lighter and more convenient metal cans. While the 600-ml glass bottle remains popular for sharing among small groups, consumers increasingly favor cans for their portability and adaptability to various social situations. Alternative packaging materials, such as wooden containers and polyethylene terephthalate (PET) bottles, are also gaining traction. However, glass bottles continue to hold significance due to their traditional appeal and absence of bisphenol A (BPA), a substance linked to health concerns like hypertension and decreased heart rate. Moreover, many artisanal breweries maintain their authenticity by offering bottled products.
By Distribution Channel, On-trade segment is expected to hold the largest market size for the year 2024
The on-trade distribution sector, also referred to as on-premises distribution, encompasses establishments where consumers purchase and consume beer. Notable channels within this segment include restaurants, bars, pubs, and hotels. The on-trade market is projected to experience substantial expansion throughout the forecast period, primarily due to the increasing consumption of beer in bars and pubs across the APAC and MEA regions, including countries such as India, China, Japan, and the UAE. The growing trend of socializing and dining out has significantly fueled the rise in on-trade beer consumption. In urban areas, consumers are increasingly seeking distinctive and diverse experiences, leading to a surge in popularity for bars, restaurants, and pubs as destinations for savoring craft beers and specialty brews.
APAC is forecasted to hold the largest market size by region in 2024
The Asia Pacific (APAC) region is experiencing robust growth in the global beer market, driven by key contributors such as China, Australia, Japan, Vietnam, and India. This expansion is underpinned by several factors, including the region's escalating Gross Domestic Product (GDP) and economic growth, the expanding acceptance and popularity of beer, a burgeoning middle-class population, rising per capita income, and the increasing affinity towards beer among Millennials. Notably, China, the world's largest beer producer, generated approximately 3,562.4 kiloliters of beer in 2021, marking a 5.6% year-over-year increase.
The Beer Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The beer market is a vibrant and diverse industry, encompassing a wide range of styles and brands. Two of the most popular categories are Stouts and Ales, which include subcategories like Porter Stouts and IPA Ales. Lagers, another major segment, are known for their crisp and clean flavors. Brands like Heineken continue to dominate the market, but consumers, particularly Gen Z and Millennials, are increasingly seeking out unique beverage options. This has led to a surge in popularity for Craft Beers, produced through small-batch production methods using high-quality ingredients like yeast, hops, grains, malted barley, and water. Health and wellness trends have also influenced the beer market, with an increasing demand for Low-alcohol and Non-alcoholic beer. Consumers are looking for new and exciting flavors, and Craft Breweries are delivering with innovative creations. The beer market is not just about Alcoholic Beverages anymore. Direct-to-Consumer (DTC) sales and Retail stores are becoming more common, allowing consumers to enjoy their favorite brews from the comfort of their homes or local shops. Whether it's a traditional Lager or a unique Stout, the beer market has something for every palate.
Market Research Overview
The beer market is a dynamic and diverse industry, encompassing various segments such as glass bottle, premium, standard, macro brewery, and microbrewery. The market caters to various consumer preferences, including Stouts, Ales, Lagers, and an exponential trend towards low-alcohol and non-alcoholic beer. Heineken, a macro-brewery, dominates the market, but the craft beer movement, with its small-batch production and unique flavors, is gaining traction among Gen Z and Millennials. The beer market is influenced by several factors, including macroeconomic factors, demographic factors, regulatory environment, and local special circumstances. Consumer confidence and disposable income levels impact the demand for beer, with on-trade sales in hospitality service establishments, such as bars, restaurants, and hotels, driving growth. The off-trade sales through retail stores, super- and hypermarkets, convenience stores, and specialty stores, are also significant. The on-trade sales through cafés, catering, and eCommerce are growing, with personalized recommendations and targeted marketing strategies driving customer engagement. The beer market is evolving, with a focus on health and wellness, low-alcohol beer, and artisanal experiences. The use of recyclable glass, metal cans, and PET bottles reflects environmental concerns. The market is global, with international institutions and national statistical offices providing valuable data through platforms like Statista. The top-down approach to market analysis considers macroeconomic factors, while micro-level data on out-of-home consumption provides valuable insights. The beer market offers a wide range of beverage options, from unflavored and flavored to alcohol-free, low, and high alcohol content. Brewing techniques and ingredients, such as yeast, hops, grains, malted barley, and water, contribute to the unique flavors and carbonation of various beer styles. The alcoholic beverage industry offers celebrations, relaxation, and socializing opportunities, making it an essential part of our lives.
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