Craft Beer Market generated a revenue of USD 76.3 Billion in 2019 and is forecast to generate a CAGR of 8% during the forecast period, due to the growing health awareness and increasing demand for low-alcohol beverages.

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Key Drivers

The major factors contributing toward the growth of the global craft beer market include the rising youth population, the growing number of on-premises distribution channels, increasing disposable income, and changing customer preference. Craft beer adoption acted as a drastic transformation in the beer industry. Moreover, the urban population consists of youth and working individuals who prefer to have high-quality beverages which have enhanced flavors. Due to the increasing disposable incomes, customers are willing to pay more instead of compromising for quality. Therefore, the rising disposable income and changing customer preference are driving the growth of craft beer market globally.

Besides this, the increasing number of lounges, restaurants, bars, and pubs primarily because of the rising socialization trends and the incorporation of advanced and go-green technology into the craft beer production process to reduce water usage are projected to augment the market growth. Moreover, millennials are inclines to try new beverages, which is catalyzing the product demand. Thus, leading players have introduced a wider choice of flavors, such as sweet and sour, spicy, honey-like, and fruity, with enhanced taste to offer enormous opportunities to the market. Other factors, including the rising popularity of non-alcoholic craft beer, ongoing research and development (R&D) activities, and changing consumption patterns, are also creating a positive outlook for the market.

In past years, females were not much adaptive toward beers due to its taste. Eventually, after the emergence of craft beers, young and trendy females have started adapting beer in their lifestyle due to enhanced flavors and quality, which generates growth opportunities for the global craft beer market. On the contrary, higher taxation and excise duties on imported and local beers might hamper the growth of the market.

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Distribution Channel Segment Analysis

Off-trade segment is expected to witness a higher CAGR during the forecast period. Off-trade craft beers are less expensive as compared to the on-trade beers, which is the major factor that is surging the demand of the segment, especially among the consumers with low and medium income. The easy availability of different flavors and types in off-trade distribution channel will boost the market growth. According to the Martson’s Beer Company’s off-trade beer report 2019, nearly 35% lager and 16% ale consumers are inclined towards this alcoholic beverage via such off-trade sources.

Product Segment Analysis

Craft lager segment is estimated to witness a faster CAGR over the upcoming years, due to the growing emphasis of leading producers to add new styles like light lager and pales to expand their product portfolios to draw consumers’ attention from mainstream brands. The light and malty taste have surged the demand for lager, driving the market growth. As per the Brewers Association, in the Great American Beer Festival (GABF) 2019, lagers witnessed 1764 entries in nearly 18 different styles constituting 15.8% of this alcoholic beverage.

Age Group Segment Analysis

On the basis of age group, the market is segmented into 21-35 years, 40-54 years, 55 years and above. Among these, age groups between 21-35 years segment is expected to witness a higher CAGR during the forecast period. This is attributed to the high number of youth and working individuals in the respective age group. This age group consists of youth and customers with increasing disposable incomes who are more adaptive toward western culture. Moreover, individuals within the respective age group are more concerned about health, which will further accelerate the growth of the segment.

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Regional Analysis

Asia-Pacific is estimated to lead the market during the forecast period, due to the accelerating per capita income, surging demand for unique flavors, increasing urbanization, and growing demand for beer. In addition, most of the key players of the market are expanding their business in the region, which would further fuel the growth of the market.

North America is estimated to witness a higher CAGR over the forecast period, due to a significant surge in the number of microbreweries in the U.S. According to the Brewers Association, the number of craft breweries in the United States have increased from 8391 in 2019 to 8764 in 2020. The growing demand for craft beers among the millennials and the increasing demand for low alcohol craft beers has encouraged leading players to introduce advanced products, which is forecast to offer enormous opportunities to the market.

The key players in the market include D.G. Yuengling and Son Inc, The Boston Beer Company, Inc., The Gambrinus Company, Chimay Beers and Cheeses, Stone & Wood Brewing Co, Lagunitas Brewing Company, New Belgium Brewing Company, Carlsberg Group, Diageo PLC, and Heineken N.V., among others.

Key Developments

• • April 2021: B9 Beverages Pvt. Ltd. declared their plans to introduce limited edition of craft beers in different flavors in India to fulfil the consumers growing demand for bold and exquisite flavors.
  • October 2020: Latambarcem Brewers launched bottled craft beer brand Maka di in India, due to the rising popularity of beer in India.
  • In 2021, Incroyable, a brand by FrogBeer, introduced the latest non-alcoholic craft beer product line. The product line consisted of four 0.5% Alcohol by Volume (ABV) brews.
  • In 2021, Brithop, a brand Buxton Brewery, introduced a latest craft beer having a vibrant, fruity taste, to cater the growing demand for young consumers in the United Kingdom.
  • In 2021, BrewDog, a famous Scottish craft brew brand, decided to expand its operation by opening its first outlet in Mumbai, India.

The global craft beer market has been segmented on the basis of product, distribution channel, age group, and region. Based on the product, the market is segmented into ale, lagers and others. Based on the distribution channel, the market is segmented into on-trade, and off-trade. Based on the age group, the market is segmented into 21-35 years, 40-54 years, 55 years and above.

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Key questions answered in this research report:

• • At what pace is global craft beer market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global craft beer market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global craft beer market?
  • Which product generated maximum revenues in 2019 and identify the most promising product during the forecast period?
  • What are the various distribution channels of global craft beer market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2019)	USD 76.3 Billion
Market Base Year	2019
Market Forecast Period	2020-2027
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Product, By Distribution Channel, By Age Group, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	D.G. Yuengling and Son Inc, The Boston Beer Company, Inc., The Gambrinus Company, Chimay Beers and Cheeses, Stone & Wood Brewing Co, Lagunitas Brewing Company, New Belgium Brewing Company, Carlsberg Group, Diageo PLC, and Heineken N.V. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Craft Beer Market by Product

• • Ale
  • Lagers
  • Others

Global Craft Beer Market by Distribution Channel

• • On-trade
  • Off-trade

Global Craft Beer Market by Age Group

• • 21–35 Years Old
  • 40–54 Years Old
  • 55 Years and Above

Global Craft Beer Market by Region

• • North America Craft Beer Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • By Age Group
    • US Market All-Up
    • Canada Market All-Up
  • Europe Craft Beer Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • By Age Group
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Craft Beer Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • By Age Group
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Craft Beer Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • By Age Group
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Craft Beer Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • G. Yuengling and Son Inc
  • The Boston Beer Company, Inc.
  • The Gambrinus Company
  • Chimay Beers and Cheeses
  • Stone & Wood Brewing Co
  • Lagunitas Brewing Company
  • New Belgium Brewing Company
  • Carlsberg Group
  • Diageo PLC
  • Heineken N.V.