Global beer market had value of US$793.74B in 2022, is predicted to reach US$821.39B in 2023 and may reach US$1.072T by 2030, aided by growing socialization, according to Fortune Business Insights

July 3, 2023 (press release) –

The global beer market size touched USD 793.74 billion in 2022 and is predicted to reach USD 821.39 billion in 2023. The market is anticipated to touch USD 1,072.50 billion by 2030, recording a CAGR of 3.88% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Beer Market Size, Share & COVID-19 Impact Analysis, By Type (Lager, Ale, Stouts, and Others), By Packaging (Glass Bottle and Metal Can), By Distribution Channel (On-trade and Off-trade), By Production (Macro brewery and Microbrewery), By Category (Standard and Premium), and Regional Forecast, 2023-2030”.

Beer has gained immense popularity in recent years as this beverage is low on alcohol and has many health benefits when taken in moderation. A growing percentage of millennials and Gen Z are increasing their consumption of beverages that have a low Alcohol by Volume (ABV), which has further boosted the sales of this drink. New brewing technologies are also being developed by prominent companies in developing countries. This has created a positive influence on the consumption of beer in these nations. Moreover, the rising demand for innovative beers that come in bold and unconventional flavors is expected to augment the beer market growth.

COVID-19 Pandemic Negatively Affected Product Sales Due to Closure of Restaurants and Bars

The COVID-19 pandemic wreaked havoc in many industries across the globe as supply chains were severely disrupted due to the imposition of movement restrictions and lockdowns. These restrictions forced restaurant and bar owners to shut down their operations, which dampened the demand for low alcoholic beverages, such as beer. A vast majority of retail outlets were closed during this period, which further hampered the sales of different types of beers. According to data published by The Brewers of Europe, the government-enforced COVID-19 measures had a disproportionate effect on restaurants and bars, causing a 42% decline in beer sales across the region. These factors negatively impacted the market forecast during the pandemic.

Growing Socialization to Boost Consumption of Alcoholic Beverages

Alcohol has always played an integral role in several social engagements and interactions. This trend is still gaining immense traction, especially after the COVID-19 era, as more people have started going outdoors to dine out at restaurants and visit pubs. This factor has spurred the production of bold flavored drinks to cater to the growing demand for beverages that come in unconventional flavors. Beer is considered one of the most popular alcoholic drinks, and the rising inclination toward beverages with low alcohol content will further boost the popularity of this product. This will again enhance the demand for this alcoholic drink in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/beer-market-102489

Competitive Landscape

Strong Presence of Key Players to Boost Market Expansion

In the last few years, the global market has become highly consolidated, which has led to the launch of new products. The leading companies involved in this market are involved in several mergers and acquisitions with a variety of multinational brewing companies. Anheuser-Busch InBev is a top player in this industry. The prominent beer manufacturers in this market are increasing their focus on understanding the ongoing market trends & needs, achieving high production efficiency, and expanding their strong chain of distribution networks. Heineken N.V., Carlsberg A/S, China Resources Breweries, and Molson Coors Beverage Company are some of the other key players in this market.

Notable Industry Development:

• August 2022: Iron Hill India announced plans to open a separate beer manufacturing facility by the end of 2023 to cater to the demand for canned beers. The new plant will reportedly produce world-class quality craft beers, which will be presented in cans.

List of the Companies Profiled:

• Anheuser-Busch InBev (Belgium)
• Heineken N.V. (Netherlands)
• China Resources Breweries (China)
• Carlsberg A/S (Denmark)
• Diageo Plc (U.K.)
• Molson Coors Beverage Company (U.S.)
• Boston Beer Company (U.S.)
• Asahi Group Holdings Ltd (Japan)
• Kirin Holdings Co. Ltd (Japan)
• Beijing Yanjing Beer Group Corporation (China)

Further Report Findings

• Europe is anticipated to capture a dominant beer market share during the forecast period. One of the major reasons contributing to the regional market’s growth is that this drink is one of the most important parts of Europe’s culture, heritage, and nutrition. In fact, the European Union is one of the leading manufacturers of beer in the world. The region’s beer sector is also quite diverse as it consists of small and medium-sized companies, including breweries and microbreweries that are operating on local, regional, and national levels.
• North America held a sizeable share of the global market as the region has a vast variety of major market places in the world that have displayed great potential for the beer business to flourish. This is because a large percentage of customers in the region have increased the consumption of this alcoholic drink in recent years. The region is also noticing a strong growth in the number of breweries. As more millennials and youngsters are looking for beverages that have a low alcohol content and want unique beer drinking experiences, the product demand has skyrocketed across the region.

Table of Segmentation

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