Global
Craft Beer Market: Overview
A
microbrewery or a craft brewery refers to a brewery that makes beer in small
quantities. Beer produced in microbreweries is much smaller in scale as
compared to corporate breweries and independent individuals own those
breweries. Such breweries are usually known for their high quality beer with
excellent flavor and they are also characterized with their brewing techniques.
The global craft beer market is expected to be driven by the increasing demand
for the product in different parts of the world, such as in countries like
Brazil, New Zealand, Australia, and South Africa. The changing preference of
consumers toward alcohol by volume (ABV) and flavored beer is likely to expand
the growth of the global craft beer market in the years to come.
The rising
awareness amongst the consumers regarding the availability of wide range of
styles and flavors of the craft beer together with low alcohol by volume
percentage is likely to propel growth of the global
craft beer market in the years to come. Furthermore, there has been a
shift in consumer preference, which is more inclined toward regular beer now.
Nevertheless, there has been an advancement in the process of brewing and there
is more utilization of high quality raw material, which has bettered the
overall quality of the finished product. This factor has garnered the attention
of customers, which is likely to bolster growth of the global craft beer market
in the years to come.
Product
type, distribution channels, age group, and region are the four important parameters
based on which the global craft beer market has been categorized. Such
dissection of the market comes with the purpose to offer stakeholders with a
detailed and clear analysis of the global craft beer market.
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Global
Craft Beer Market: Notable Developments
One of the
developments that offer a glimpse of the market dynamics about the global craft
beer market is mentioned below:
·
In February 2018, Belgium-based leading producer of beer
Anheuser-Busch InBev SA/NV or AB InBev, introduced Lisa, premium Italian beer,
in the UK. The product comes with the flavor of honey balanced with a clean,
dry finish or soft bitterness. Such innovative products are likely to diversify
the product portfolio of the company and widen its reach.
Some of
the prominent organizations in the global craft beer market include the
below-mentioned:
·
Sierra Nevada Brewing Co.
·
The Gambrinus Company
·
Stone & Wood Brewing Co.
·
The Boston Beer Company
·
Anheuser-Busch InBev,
·
The Lagunitas Brewing Company
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Global
Craft Beer Market: Key Trends
The global
craft beer market is characterized by the presence of the following restraints,
drivers, and opportunities.
Increased Sale through On-trade Distribution to Drive Growth of
the Market
The global
craft beer market is likely to be influenced by its rising sale through
on-trade distribution. This type of distribution channel refers to the sale of
alcoholic drinks in pubs, clubs, restaurants, bars, and various other
distribution channels in the hospitality sector. The on-trade craft beer is
usually costlier than the ones found on off-trade distribution. The off-trade
distribution refers to the sale of beer through online store, wholesalers, and
retail stores. The sale of craft beer through on-trade distribution platforms
is likely to observe considerable growth in developed countries as these beers
are costly and people in developed countries are willing to pay more for these
premium products. Sale through off-line platforms are likely to witness growth
in the developing countries due to the medium to low spending power of the
people in the region.
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People
these days mostly opt for low alcohol by volume beverages. There has been a
rising preference for the low-alcohol or no-alcohol beverages amongst the
health conscious people. Besides, now there is an increased availability of a
wide variety of products with varied tastes, such as ciders and low alcohol
beers, which is likely to influence the expansion of the global craft beer
market in the years to come. Besides, there has been an emerging trend of
consumers willing to try out new flavors, which is likely to augur well for the
market in the times to come.
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