Beer Market Set to Reach USD 774 Billion by 2030, Growing at a CAGR of 2%

Beer Market Set to Reach USD 774 Billion by 2030, Growing at a CAGR of 2%

According to Next Move Strategy Consulting, the global Beer Market, is projected to grow to USD 774 billion by 2030, expanding at a compound annual growth rate (CAGR) of 2% by 2030. Beer, one of the oldest and most popular alcoholic beverages, is brewed by fermenting malted cereals like rice, wheat, and barley, with its color, strength, and bitterness used as primary measures of quality. The market is driven by factors such as a growing global economy, rising health-conscious millennial consumers, and the increasing popularity of low-alcohol and alcohol-free variants.

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Market Trends and Dynamics

The beer market is experiencing significant growth, particularly in emerging economies, driven by an increase in GDP, a higher standard of living, and the influence of Western culture, which has popularized beer festivals and pub culture. Moreover, the growing inclination among younger consumers towards alcoholic beverages, including beer, has encouraged producers to expand their manufacturing capabilities.

Innovative products with new flavors such as fruity, tarty, and salty profiles are further fueling the market's growth. A notable example is the re-launch of Corona Refresca by Constellation Brands in 2021, featuring tropical flavors like coconut lime and passion fruit lime. This surge in flavor innovation is expected to continue as consumers seek unique and novel beer experiences.

Health-conscious millennials have also contributed to the demand for low-alcohol and alcohol-free beers, with producers focusing on developing products that align with this growing preference. Additionally, advancements in distribution channels, especially through social media and e-commerce, are enabling global beer producers to enhance their market presence.

However, the beer market faces challenges such as stringent government regulations on alcohol sales due to health concerns, which could potentially hinder growth. Despite this, innovations like beer tap rooms and self-service beer walls are expected to offer significant opportunities for market expansion.

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Market Segmentation

The beer market is categorized based on type, source, ingredients, production, taste, quality, alcohol content, flavor, packaging, distribution channel, and geography. Key segments include:

  • Type: Ale, Stout & Porter, Lager, Malt, Bocks, and Others
  • Source: Wheat, Corn, Rice, Barley, Oats
  • Production: Macrobrewery, Microbrewery, Craft Brewery, and Others
  • Taste: Strong, Light, and Regular Beer
  • Alcohol Content: High, Low, and Alcohol-Free
  • Packaging: Canned, Glass Bottle, PET Bottle, and Others
  • Distribution Channels: On-Trade and Off-Trade

The report also provides a detailed geographical breakdown, with regions such as Asia-Pacific, North America, and Europe expected to dominate the market.

Geographical Insights

Asia-Pacific currently holds the largest share of the global beer market and is expected to maintain its leadership throughout the forecast period. This dominance is attributed to local players like Yanjing and Asahi, which produce low-alcohol beers at competitive prices. Additionally, a rising young population and the influence of Western culture are contributing to the region’s growth.

In North America, the market is set to witness rapid growth due to the increasing popularity of craft beers with unique flavors. The U.S., in particular, saw the number of operating craft breweries reach a record 9,118 in 2021, indicating strong consumer demand for innovative beer options. Modern social venues like bars and nightclubs continue to boost on-trade beer consumption, further driving market growth.

Competitive Landscape

The global beer market is highly competitive, with major players such as Anheuser-Busch InBev, Heineken N.V., Carlsberg Group, Molson Coors Beverage, Asahi Group Holdings, and Constellation Brands leading the charge. These companies have focused on strategic initiatives such as product launches, mergers, and acquisitions to strengthen their market positions.

For instance, in August 2021, Molson Coors Beverage launched the Moon Haze pale ale, featuring bold flavors to cater to evolving consumer tastes. Similarly, Heineken N.V. acquired a controlling stake in United Breweries Limited, further solidifying its presence in the Indian market.

Conclusion

The global beer market is on a steady growth trajectory, driven by increasing demand for innovative flavors, rising health-consciousness, and the widespread influence of Western beer culture. While challenges like regulatory constraints may arise, the ongoing trend of product innovation and evolving consumer preferences are expected to open new opportunities for market players. The market’s expansion is especially prominent in Asia-Pacific and North America, regions that will continue to drive growth in the coming years.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
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