Alcohol has been used in social engagements historically, and the trend is still growing. The rising prevalence of alcohol socializations and growing westernization among consumers are predicted to augment the growth of the industry in the coming years.
The research highlights the latest technological advancements and key trends of the industry. It assimilates the challenges and restraints to growth, and advises strategies to overcome those challenges. It incorporates SWOT analysis. It showcases the COVID-19 pandemic impact on the industry. It also describes the consumption rates and patterns associated with the industry.
The global beer industry size is projected to grow from USD 768.17 billion in 2021 to USD 989.48 billion in 2028 at a CAGR of 3.68% during the forecast period in 2021-2028. The growing alcohol e-commerce channel and rising personal disposable income levels are expected to magnify industry’s growth in the forthcoming years. has presented this information in its research titled “Beer Industry, 2021-2028”. The industry size stood at USD 743.84 billion in 2020.
The rising disposable income levels in developing and developed regions such as South America and Asia Pacific are likely to boost the consumption of beer and other alcohols and favor industry growth. Moreover, the increasing adoption of westernized culture and modernization are expected to augment the consumption and magnify the global industry growth.
All the beer industry companies that are presently striving to reduce the impact of Covid-19 pandemic on the industry:
Anheuser-Busch InBev (Leuven, Belgium), Heineken N.V. (Amsterdam, Netherlands), China Resources Breweries (Beijing, China), Carlsberg A/S (Copenhagen, Denmark), Diageo Plc (London, U.K.), Molson Coors Beverage Company (Illinois, U.S.), Boston Beer Company (Massachusetts, U.S.), Asahi Group Holdings Ltd (Tokyo, Japan), Kirin Holdings Co. Ltd (Tokyo, Japan), Beijing Yanjing Beer Group Corporation (Beijing, China) & Other.
Key Players Adopt Ingenious Growth Strategies to Acquire Growth
The industry is fairly consolidated and comprises several key players operating internationally and domestically. They adopt various growth strategies including new product launches, patents, partnerships, collaborations, and others to augment their consumer bases and enhance their industry reach. For instance, Carlsberg Group A/S signed an agreement with Bitburger Braugruppe in October 2020 to acquire the Wernersgruner brewery in Germany’s Vogtland region.
- November 2020: Anheuser-Busch InBev launched Beck’s Ice Premium Lager in India. The super mild beer offers 3.5% ABV and paved a way for a new category in this industry.
Alcohol has been used for socialization since ages. Beer is favored by youngsters and millennials due to its low alcohol by volume. The advent of consumer social status and growing diversified cultural consumer groups are expected to augment alcohol socialization and complement industry growth.
Lastly, the growing trend of alcohol e-commerce is anticipated to fuel the growth of the industry. Online alcohol sales increased during the pandemic, which is expected to amplify the industry growth in future.
However, the strict laws and regulations regarding the advertising and industrying of alcohol in various regions may hamper the industry growth.
On the basis of type, the industry is fragmented into lager, stouts, ale, and others. On the basis of packaging, the industry is bifurcated into metal cans and glass bottles. On the basis of distribution channels, the industry is segmented into off-trade and on-trade. Geographically, the industry is classified into North America, Asia Pacific, Europe, South America, and the Middle East & Africa.
Europe to Hold the Lion’s Share Due to the Presence of Several SMEs
Europe is projected to attain the largest global beer industry share. Beer is a crucial part of heritage, culture, and nutrition in Europe and is cherished across all European countries. Europe hosts several small and medium sized firms, including micro-breweries and the breweries functioning at regional, local, and national levels. The numbers of these breweries are increasing and are anticipated to favor industry growth. Additionally, the rising inclination of consumers towards low-alcohol products is expected to boost the demand for the product and augment the industry growth.
Asia Pacific is anticipated to rank second in global industry. The rising demand for premium alcoholic appeal and refreshing flavor profiles are expected to drive the industry’s growth. Additionally, the growing adoption of westernized patterns is predicted to favor the industry’s growth.
North America is likely to attain the third rank in global industry. The rising number of breweries and the evolving consumer preferences are expected to aid the industry growth in the region.