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.
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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.
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.
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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
Global
Craft Beer Market: Key Trends
The global craft beer market is characterized by the presence of
the following restraints, drivers, and opportunities.
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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.
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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