The Craft Beer Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 10.22% and a CAGR of 12.22%, with the market growing by USD 79.02 billion during the forecast period 2021 to 2026.

This craft beer market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the craft beer market segmentation by product (India pale ale, seasonal craft beer, pale ale, amber ale, and other craft beer) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The craft beer market report also offers information on several market vendors, including Anheuser Busch InBev SA, Asahi Group Holdings Ltd., Bells Brewery Inc., Boston Beer Co. Inc., Omer Vander Ghinste, Buxton Brewery Co. Ltd., Carlsberg AS, D.G. Yuengling and Son Inc., Diageo Plc, Duvel Moortgat NV, Heineken NV, Kirin Holdings Co. Ltd., Molson Coors Beverage Co., New Belgium Brewing Co. Inc., Sapporo USA Inc., Shepherd Neame Ltd., Sierra Nevada Brewing Co., Thornbridge Brewery, United Breweries Ltd., and VAN PUR SA among others.

What will the Craft Beer Market Size be During the Forecast Period?

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Craft Beer Market: Key Drivers, Trends, and Challenges

The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the craft beer market.

Key Craft Beer Market Driver

One of the key factors driving the craft beer market growth is the increasing popularity of craft beer in developing countries. Steady economic growth, especially in APAC, MEA, and Latin America, has resulted in higher incomes for consumers. The increased purchasing power of the middle-income population in these regions has resulted in consumers looking for more innovative products in the food and beverage industry, which, in turn, has resulted in a higher demand for craft beer products. The substantial rise in consumer expenditure in the world's two most populous countries, namely China and India, is a positive sign for the global craft beer market. In addition to this, the Millennial population is focusing on drinking less but good quality liquor. The health benefits of craft beer over mass-produced beer, coupled with the availability of new flavors, have made craft beer popular among the younger generation.  A significant rise in per capita income in developed and developing economies is increasing the demand for premium varieties of beer among consumers. Craft beer is widely preferred because of its authenticity, taste, and brand value. Owing to the increasing demand for such beers, vendors offer premium varieties of beer. The popularity of craft beer among Millennials is driving the growth of the craft beer market.

Key Craft Beer Market Trend

The rising spending capacity of Millennials worldwide is another factor supporting the craft beer market growth. Millennials have enormous spending power, and the spending power of Millennials is expected to increase during the forecast period. Craft beer is becoming popular among Millennials, as the enthusiasm to try out new variants and flavors is more among them when compared to other consumer segments. Furthermore, the rising disposable incomes of consumers in developing countries such as India, where the population of Millennials accounted for nearly 29% of the total population, provide a huge opportunity for global craft beer players to expand their geographical presence and increase their customer base. Manufacturers of craft beer are targeting the Millennial population and are coming out with products and marketing campaigns targeted at this consumer segment. The Millennial population is expected to play an important role in the growth of the global craft beer market during the forecast period.

Key Craft Beer Market Challenge

Campaigns against alcohol consumption are the major challenge impeding the craft beer market growth. The growing incidence of alcohol abuse and alcohol-related accidents, especially among the younger population, has led to many regulatory and social organizations launching campaigns against alcohol consumption and market players. For instance, many organizations such as Mothers Against Drunk Driving (MADD), Students Against Destructive Decisions (SADD), the American Medical Association, and the National Center on Addiction and Substance Abuse are engaged in discouraging alcohol consumption in the US. The prolonged consumption of alcoholic beverages can cause various health-related issues. The excessive consumption of beer can affect the physical and mental well-being of people. It can cause blackouts, loss of coordination, seizures, drowsiness, hypothermia, low blood sugar levels, vomiting, diarrhea, bleeding, and irregular heartbeat. The long-term consumption of beer can cause mental issues, heart problems, and liver failure.  Awareness about health and the inclination of people for healthier lifestyles have encouraged them to consume healthy drinks and beverages. The growing preference for non-alcoholic beverages, such as health drinks, is adversely affecting the growth of the market. Globally, the consumption of alcoholic beverages has witnessed a steady decline, owing to the changing consumer preference for healthier, non-alcoholic beverages, driven by advertisements and awareness campaigns related to the adverse effects of alcohol on health. The increasing campaigns against alcohol consumption in various countries will hamper the growth of the global craft beer market during the forecast period.

This craft beer market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global craft beer market as a part of the global brewers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the craft beer market during the forecast period.

Who are the Major Craft Beer Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Anheuser Busch InBev SA
• Asahi Group Holdings Ltd.
• Bells Brewery Inc.
• Boston Beer Co. Inc.
• Omer Vander Ghinste
• Buxton Brewery Co. Ltd.
• Carlsberg AS
• D.G. Yuengling and Son Inc.
• Diageo Plc
• Duvel Moortgat NV
• Heineken NV
• Kirin Holdings Co. Ltd.
• Molson Coors Beverage Co.
• New Belgium Brewing Co. Inc.
• Sapporo USA Inc.
• Shepherd Neame Ltd.
• Sierra Nevada Brewing Co.
• Thornbridge Brewery
• United Breweries Ltd.
• VAN PUR SA

This statistical study of the craft beer market encompasses successful business strategies deployed by the key vendors. The craft beer market is fragmented, and the vendors are deploying growth strategies, such as offering product variants to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report market craft beer contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Craft Beer Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the craft beer market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Craft Beer Market?

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36% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the craft beer market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The high consumption patterns witnessed in the region will facilitate the craft beer market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the market witnessed slow growth due to the outbreak of COVID-19. In a recent South Carolina Brewers Guild study, sales from breweries and brewpubs in the US declined by 70% in 2020. Nearly 45% of breweries experienced a sales decline of more than 80%. The decline in sales is attributed to the outbreak of COVID-19 and the imposition of lockdowns in North American countries. Most breweries do not have significant packaging operations and, thus, rely on on-the-premises sales for their income. Many states in the US banned small brewers from shipping or delivering beer during the lockdowns. However, in 2021, the initiation of vaccination drives led to the lifting of lockdowns and travel restrictions across the region. This resulted in the resumption of operations across pubs, bars, and bistros with a limited workforce, which will drive the growth of the craft beer market in North America during the forecast period.

What are the Revenue-generating Product Segments in the Craft Beer Market?

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The craft beer market share growth in the India pale ale (IPA) segment will be significant during the forecast period. IPA is the most preferred variant of craft beer among consumers worldwide, as it is available in various exotic flavors and has a characteristically bitter taste due to the use of regular hops. IPA is especially popular in countries such as the US, China, Australia, the UK, France, Belgium, the Netherlands, and Poland. The increasing popularity of IPA among Millennial consumers will help in the growth of this product segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the craft beer market size and actionable market insights on the post-COVID-19 impact on each segment.

You may be interested in the regional reports :

 US Craft Beer Market - The market research report predicts that this market will grow at a CAGR of almost 18% by 2021.

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What are the Key Data Covered in this Craft Beer Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive craft beer market growth during the next five years
• Precise estimation of the craft beer market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the craft beer industry across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of craft beer market vendors

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