New York, US, Nov. 21, 2022 (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 2030”, The craft beer market can expand at a CAGR of 13.50% between 2022 and 2030 and can touch USD 248.6 Billion by 2030.
Market Synopsis
People are interested in craft beer for a variety of reasons. Craft beers' distinctive flavours and variety appeal to certain individuals. Others value the artisanal approach to brewing that many brewers use. Whatever the cause, the demand for craft brews is unquestionably rising. The popularity of microbreweries and craft brewers is one of the key factors driving the increased interest in the craft beer market. These little companies are making some of the most intriguing and distinctive beers in the world, and they are quickly becoming successful.
Craft beers are now more widely available than ever before as a result of this. There is probably a craft beer that suits consumers' needs, whether they are seeking for something flavorful or light and refreshing.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 248.6 billion |
| CAGR | 13.50% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Ingredients, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The Development of New Products And Flavors By Individual Craft Breweries |
| The Emergence of Subtler Flavors Like Floral Ones |
Market Competitive Landscape:
The affluent companies in the craft beer market are
- Boston Beer Company Inc.
- D.G. Yuengling & Sons
- Inc.,New Belgium Craft Brewery
- Deschutes Brewery
- North Brewing Company
November 2022
Recently, Saucey, a well-known platform for alcohol delivery, announced the expansion of its craft beer service to New Jersey. Depending on where you live, Saucey offers scheduled deliveries right to your doorway. With the extension, the booze delivery service will now be available in over 28 zip codes, including those in Newark, Hoboken, and Fairfield. The company intends to continue expanding its service capabilities throughout New Jersey and Rochester, and this new service region will extend their current zoning in New York City.
Market USP Covered:
Market Drivers:
The demand for more regional brewers is fostering the growth of the worldwide craft beer industry. Sales of craft beer increased by 7.9% in 2021, according to the Brewers Association, and are anticipated to increase much more in the following few years. Brewers are beginning to concentrate on their web presence in an effort to take advantage of this trend and promote nearby breweries.
Breweries are achieving this, among other things, by setting up social media pages exclusively for their brands. For instance, Stone Brewing maintains individual accounts for its Stone IPA, Stone Ruination Double IPA, and Stone Smoked Porter brands in addition to its main account, which provides standard beer news and information. A user who subscribes to one of these accounts will receive updates on fresh content pertaining to that brand. Customers won't need to follow several accounts to stay up to date on all of Stone Brewing's most recent products in this way.
Artificial intelligence (AI) appears to be playing a significant role in the swift growth of the craft beer business. A little brewery with more than 14 years of experience is called NOLA Brewing. They are renowned for their distinctive beers and cutting-edge brewing methods. But distribution is their biggest problem. The company created the beer in association with The Australian Institute for Machine Learning (AIML) and Barossa Valley Brewing (BVB).
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Market Restraints:
The market for craft beer is expanding globally, but problems in the supply chain could limit that expansion. According to the Brewers Association (BA), craft beer sales in the US decreased by 8% in 2020. Craft brewers are producing more than ever, but not by themselves. The BA estimates that until 2021, craft breweries will need to grow their production by 2.3% annually to maintain their present market share in order to keep up with demand.
However, various problems might prevent this growth. Small brewers sometimes lack the funds to import ingredients from other regions of the country or to purchase them in quantity, which is a problem. As a result, some breweries must decide whether to spend money on their own manufacturing or purchase materials from bigger, more established breweries.
COVID 19 Analysis
The significant impact of COVID-19 outbreak has had a variety of effects on people's health all across the world. The tremendous social and economic burden on individuals around the world is related to the aftermath. People are suffering from a variety of mental traumas as the major governments implement new frameworks and industries embrace cutting-edge models of expansion to maintain their relevance.
The increase in cases has sparked mental and financial problems around the world, particularly among the elderly. The younger population has also been experiencing difficulties as a result of job losses and is choosing family care to deal with the effects. The creation of a vaccine and the treatment of COVID-19 dominate the conversation, diverting attention from other markets.
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Market Segmentation
By Type
Lager, stouts, and ale are the various types of craft beer available on the international market.
The report's main constituents are yeast, malt, hops, and enzymes.
By Distribution Channel
Both on-trade and off-trade are significant distribution channels that have been explored in the research study.
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Regional Insights
With the largest stake in the worldwide market, the North American market would continue to rise tenaciously in the years to come. The substantial popularity of the beverage among young people is the cause of the high consumption rate of craft beer and beer in general. Given that it contains considerably less alcohol than other types of beer, craft beer is the regional trend that is growing the fastest, particularly in the United States. Craft brewers have dramatically increased in quantity in the area as a result of favorable government incentives and widespread consumer desire for local dining experiences. The growing influence of social media and the increase in local events and promotions are both positive developments.
Consumers of craft beer in Europe are increasingly experimenting with new flavors, such as IPA and various kinds of pale ales. They are more than happy to spend a lot of money on these premium brands, which drives up the number of craft breweries and microbreweries and, as a result, supports the expansion of the sector in the area. In addition, increased rates of healthy lifestyle adoption and consumer health consciousness would increase the consumption of craft beer in the coming years.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
