A
research study titled, “Craft Beer Market by Distribution - Global Industry
Analysis and Forecast to 2025” published by Crystal Market Research, states
that the craft beer market is projected to be around $505 billion by 2025.
Craft
beer is a beer that is brewed by a small, independent, and traditional brewer.
Craft beer is getting more popular in different parts of the world with local
and international brewers expanding their network and offering exciting new
flavors and tastes. The rising consumer preference for low alcohol by volume
(ABV) beer is the main reason for the significant growth of the global craft
beer market. As consumers are positively responding and appreciating new styles
of flavors of craft beer, the industry will grow rapidly with more players
entering the market rapidly.With the use of premium quality raw materials and
advanced brewing techniques, brewers have been successful in attracting consumers
towards craft beer from mainstream beer.
The
on-trade distribution market held a major share of the global market in
2016,due to high consumption of beer inrestaurants, clubs, pubs, and bars. The
quantity of beer sold through on-trade distribution is large as compared to
off-trade distribution. Also, the beer sold through on-trade channels is
costlier as compared to the beer sold through off-trade channels, which is the
primary reason for the market dominance. Off-trade distribution is carried out
through online channels, retailers, and distributors.The growing penetration of
craft beer in developing countries such as India, China, Mexico, and Brazil
will contribute to the growth of the off-trade market as the low prices will
result into increased sales.
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Europe
held the largest share of the global craft beer market in 2016. High
consumption of craft beer and changing taste of consumersare the key factors
driving the market growth in this region.North America will witness favorable
growth during the forecast period, with U.S accounting for the largest share of
the regional market.
The
major players emphasize on expanding to new regional markets and growing their
existing product portfolios by introducing new brands and flavors through
strategic collaborations. For instance, in May 2017, Heineken purchased a 50%
stake in Lagunitas Brewing Company to accelerate their growth in craft beer
market internationally.
Some
of the key players in craft beer market are The Boston Beer Company, D.G.
Yuengling and Son, Bell's Brewery, Inc., New Belgium Brewing Company, Chimay
Beers and Cheeses, The Gambrinus Company, The Lagunitas Brewing Company, Stone
& Wood Brewing Co., Sierra Nevada Brewing Co., and Feral Brewing Co.
Key
Findings of the Research Study:
- On-trade distribution of craft beer
segment held more than half of the overall volume share in 2016 primarily
due to high consumption of craft beer in restaurants, bars, pubs, and
clubs in developed countries.
- Off-trade distribution is expected
to show significant growth in developed countries as the spending power of
consumers in these countries is low and hence a favorable market will be
witnessed for off-trade distribution.
- Europe accounted for the largest
share of the overall craft beer market in 2016, due to the changing
preference of consumers for craft beer over high alcoholic spirits.
- In North American craft beer
market, Mexico is poised to grow at lucrative CAGR during the forecast
period.
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more about this report @: http://www.crystalmarketresearch.com/send-an-enquiry/FB0641
About Crystal Market Research
Crystal
Market Research is a U.S. based market research and business intelligence
company. Crystal offers one stop solution for market research, business
intelligence, and consulting services to help clients make more informed
decisions. It provides both syndicated as well as customized research studies
for its customers spread across the globe. The company offers market
intelligence reports across a broad range of industries including healthcare,
chemicals & materials, technology, automotive, and energy.
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