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| beer market |
The beer market comprises sales of beer by entities (organizations, sole
traders, and partnerships) that manufacture beer, ale, lager, stout, malt
liquors, and non-alcoholic beer. Beer is an alcoholic beverage produced by the
saccharification of starch and fermentation of the resulting sweet wort. The
different types of beer include lager, ale, stout and malt. Beer provides
refreshment and flavor. It is a major alcoholic beverage consumed across
various regions globally.
The Global
Beer Market Size is estimated to be valued at US$ 946.21 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period
between 2024 to 2031.
Key Takeaways
Key players operating in the beer market are B. Braun Melsungen AG, Baxter, BD,
Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences
Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P.
Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., Ortho Regenerative
Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED,
and Smith+Nephew, CONMED Corporation.
The beer industry offers significant opportunities for market players in terms
of product innovations such as craft beer, premium beer, and low-alcohol beer
to cater to the dynamic taste and preferences of consumers. The key players are
also expanding their product portfolio and distribution network globally to
gain a competitive advantage.
North America dominates the global beer market. However, Asia Pacific region is
expected to witness the highest growth rate owing to the growing young
population, rising per capita income, and changing lifestyles in emerging
economies such as China and India. The key players are expanding their operations
in these regions to leverage high growth opportunities.
Market Drivers
One of the key drivers for the beer market is the growing millennial population
globally. Millennials have different tastes and preferences and are more
receptive to new beer varieties and flavors compared to older generations. This
has led beer manufacturers to introduce new product launches targeted at
millennials which is fueling the market growth.
Market Restraints
Stringent government regulations around the alcohol content in beers pose a
challenge for market players. Many countries have set an upper limit on the
alcohol percentage allowed in beers. This restrains innovation and product
development activities of players in the market. Additionally, increasing
health awareness among consumers and growing preference for low-alcohol and
no-alcohol beverages is hindering the demand for beer.
Segment Analysis
The beer market is dominated by the lager sub segment which holds around three
quarters of the total market share. Lagers are the most popular type of beer
consumed globally due to its crisp and clean taste profile. The mass-produced
nature and neutral flavor of lagers allows it to appeal to a wide audience.
However, the ale sub segment is gaining market share rapidly with double digit
growth rates in many regions. Ales offer more complex flavors and varieties
which resonate well with newer audiences and younger demographics seeking
unique tastes.
Global Analysis
North America accounts for the largest share in the global beer market
currently due to high beer consumption in major economies like United States
and Canada. However, the Asia Pacific region is projected to witness the
fastest growth during the forecast period owing to rising incomes,
westernization of tastes and expanding young population in major developing
countries of China and India. Europe holds a significant share as well led by
high beer drinking cultures in regions like Germany, United Kingdom, Spain and
others. Overall, developing regions are poised to become major consumption hubs
in the coming years supporting strong future market potential.
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