New York, US, June 24, 2021 (GLOBE NEWSWIRE) -- Craft Beer Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Craft Beer Market Information by Type, Ingredients, Distribution Channel, and Region - Forecast till 2027” the market is projected to reach USD 190 Billion by 2027 at 10.3% CAGR.
Market Scope:
The preference for beer has been rising steadily in the past as individuals are increasingly consuming it in a variety of setups. The progress in beer brewing technologies has given rise to the advent of wide-ranging beer in the global craft beer market. Craft beers have also seen a wide variety consumed in terms of the variants in recent years. The coronavirus pandemic has considerably amplified the challenges that were being faced by the brewers even before the pandemic. However, the breweries in various regions are persisting by restructuring their strategies related to distribution and production. A unique trend that has gained considerable traction is that of craft beer owners adding delivery channels, devoting capital to equipment, and trying new techniques to keep their businesses on an upward path. Many contributors in the craft beer market are coming up with novel strategies to differentiate from the rest of the players in the market.
Market Restraints:
The restriction related to consumption of beer in several regions had been a restricting factor for growth but that is changing slowly as residents in any given region are representing a proclivity for international standards
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Key Players Locking Horns:
Some of the top companies profiled in the MRFR report include:
- The Boston Beer Company, Inc. (US)
- New Belgium Craft Brewery (US)
- Deschutes Brewery (US)
- Bell's Brewery Inc. (US)
- D.G. Yuengling & Sons, Inc. (US)
- Lagunitas Brewing Company (US)
- The Gambrinus Company (US)
- Canned Heat Beer (US)
- North Brewing Company (UK)
- American Craft Beer Company Ltd. (UK)
- Duvel Moortgat Brewery (Belgium)
- Stone & Wood Brewing Co. (Australia)
- Omer Vander Ghinste (Belgium)
- Northern Monk (UK)
- Harbour Brewing Co. (UK)
The brands that are established such as Anheuser-Busch which has 23 brands under its "Brewers Collective" patronage which covers craft beer and some other brews like hard seltzer and cider. In a partnership with TerraCycle, a forward-thinking recycling company 18 of those brands across have been outfitted with TerraCycle Zero Waste Boxes for reprocessing single-use masks and gloves.
The introduction of membership programs from craft beer brewers is estimated to be the next significant trend to stabilize the volatile demand and help consolidate the market structure in the future. Paso Robles’s Firestone Walker taking a cue from this trend is now offering an exclusive membership that will present 1,000 lucky hop heads to dozens of its most select craft beers. The Brewmaster’s Reserve club will provide members eight distinct boxes (once a month) of 27 overall brews, more than half of which will be contributions special to the club. Amongst the valuable bottles are wine cask blends from the brewery’s Barrel Works docket. The Terroir Collection is one such offering, in which the beer-wine hybrids are made utilizing wild fermentation, mixing in 50 percent grapes with wort beer, then maturing them in wine barrels.
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Market Segmentation:
The Craft Beer Market is segmented based on Type, Ingredients, and Distribution Channel.
By Type: Ale, Lager, and stouts and others.
By Ingredients: Malt, Yeast, Enzymes, and Hops.
By Distribution Channels: On-trade and Off-trade.
Regional Status and Challenges:
The North American Craft Beer Market is anticipated to govern the craft beer market during the forecast period. The soaring demand for craft beer among the US population is compelling the growth of craft beer manufacturing in the North American region. There is also a tendency regarding low-alcohol beers and ciders, which is ascribed to an increasing understanding of alcohol unit drinking and the patrons' willingness to try novel beverages. Shandy Shack, a Craft beer startup has elevated six-figure financing to expand in the off-trade, following the coronavirus pandemic which disrupted its pop-up bar construct. The £160k in the backing, solicited from three angel investors, will aid Shandy Shack to develop its retail delivery, develop the range and scale up marketing. The product’s two-strong variety of IPA Shandy (2.8% abv) and Elderflower Lager Top (2.5% abv) is offered in Sainsbury’s as a portion of the supermarket’s Taste of the Future stall.
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The European craft beer market also holds an eminent segment in the global market with France, the UK, and Germany being the key contributors. The swelling number of microbreweries in the European region is anticipated to lift the progress of the craft beer market.
Though, the Asia Pacific craft beer market is anticipated to be a valuable market, due to the cumulative per capita disposable revenue shadowed by the predisposition of the youth to the drinking of craft beer. The collective understanding of craft beer among customers is anticipated to lift the craft beer market expansion in the rest of the world.
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