Global Craft Beer Market Growth 2019-2024

Craft beer - what used to be referred to as 'micro-brewed' or 'boutique' beer - took its modern roots in the United States around thirty years ago as a new breed of keen brewers rediscovered lost styles and interesting, flavoursome brews. Australia, New Zealand, Canada, Japan and Scandinavia and pockets of Europe are today leading the charge, providing alternatives to the traditional Euro-style lagers.
Craft beer is fetching higher sales than traditional beer due to endeavors from local and international brewers that are expanding their distribution network and at the same time offering exciting new flavors and tastes. The rising consumer preference for low alcohol by volume (ABV) beer is fueling the growth of the global craft beer market.

Consumers are increasingly preferring new styles and flavors of craft beer thus boosting its marketability. With the use of premium quality raw materials and advanced brewing techniques, major chunk of beer consumers have been successfully diverted to craft beer segment from mainstream beer.

The craft beer industry is majorly driven by its Premiumization aspect, wherein the consumers willingly pay higher prices for craft beer than its traditional counterparts due to its exotic flavor profile and convenience of making. Thus, higher margins associated with craft beer fetches higher profitability.

The global craft beer market is segmented by type, distribution and geography. Based on the type of craft beer, the market has been further segmented into Ales (Pale, strong, Indian, brown and Scottish styles), Pilseners and Pale Lagers, Wild/Sour Beer, Wheat Beers, Porters, Stouts, Bocks, Hybrid and Specialty Beers. India pale ale (IPAs) are a major growth driver followed by pilsners.

Based on the distribution channels, the market is further segmented into on-trade and off-trade distribution. The former sub-category is the one wherein the alcoholic drinks are sold in bars, restaurants, clubs and pubs and similar channels. The off-trade distribution is the one where craft beer is distributed through retailers, wholesalers, and online channels.

Due to the rapid growth of hospitality sector particularly in the developed economies, the on-trade distribution channels have promising growth potential. On the contrary, the off-trade distribution has higher growth prospects in emerging economies where affordability is the key to sales performance.

According to this study, over the next five years the Craft Beer market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Craft Beer business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Craft Beer market by product type, application, key manufacturers and key regions and countries.

This study considers the Craft Beer value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Ales
Lagers
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Bar
Food Service
Retail

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Budweiser
Yuengling
The Boston Beer Company
Sierra Nevada
New Belgium Brewing
Gambrinus
Lagunitas
Bell’s Brewery
Deschutes
Stone Brewery
Firestone Walker Brewing
Brooklyn Brewery
Dogfish Head Craft Brewery
Founders Brewing
SweetWater Brewing

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Craft Beer consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Craft Beer market by identifying its various subsegments.
Focuses on the key global Craft Beer manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Craft Beer with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Craft Beer submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.