Research Support Specialist, USA
The global beer market size is expected to reach USD 1.04 trillion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 9.7% from 2021 to 2028. Rapid urbanization, increasing consumption of alcoholic drinks, and rise in disposable income are positively influencing the market growth. Furthermore, the growing investments by the top players in emerging markets, the introduction of flavored beer, and the increasing number of breweries in developed economies will propel the market growth. Grown taxations of alcoholic drinks may hamper the market growth.
The growing popularity of non-alcoholic beer or low alcoholic beer among health-conscious individuals and those who seek to reduce alcohol consumption will drive the market for non-alcoholic beer in the near future. Top players are significantly investing in non-alcoholic beers to capture a major market share. Anheuser-Busch InBev SA launched a product, Budweiser zero in the non-alcoholic beer category in 2020 and the company has plans to increase its alcohol-free beer production share to 20% by 2025.
Rapid urbanization, increasing consumption of alcoholic drinks, rise in disposable income, and growing adaptability of western culture are positively influencing the market growth at the global level. The availability of beer in various flavors and in the premium category by the top brands further attracts the millennials, thus propelling the market growth.
Beer is a great source of vitamins, minerals, and antioxidants with various health benefits. Moderate beer consumption has multiple health benefits associated with it, such as reducing the risk of cardiovascular diseases and controlling blood cholesterol levels. Owing to these health benefits, beer is gaining popularity across the globe. The expansion of new breweries across the globe offering beers of unique flavors is responsible for attracting a large consumer base and providing opportunities to try different flavored beer to the consumers.
The imposition of countrywide lockdowns led to the closure of restaurants, pubs, bars, and many places where alcoholic drinks were consumed. During the pandemic, the alcoholic drinks industry witnessed a surge in demand through online retailing where consumers preferred to stay at home and enjoyed drinking at home, which resulted in a grown number of home drinkers. However, as things get normal, it is expected that the reopening of restaurants, pubs, and bars is expected to boost the demand for beer in the near future.
The report “Beer Market Size, Share & Trends Analysis Report By Category (Alcoholic Beer, Non-alcoholic Beer), By Packaging Type (Canned, Bottled), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global beer market on the basis of category, packaging type, distribution channel, and region:
List of Key Players of Beer Market