NEWARK, Del, Aug. 30, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global lager market is expected to reach US$ 370 Bn by the end of 2022, at a CAGR of 2.9% during the forecast period (2022-2032). With the growing interest of health-conscious consumers, demand for low-alcohol beverages has increased. The lager market is being driven by a wider range of new product offerings from key competitors, including improved flavor and low alcoholic content in beer for those with an ABV of 2.8% or less.
The industry is likely to be driven by the growing popularity of craft beer, especially across Asia. Further, rising consumption category of craft beers, i.e. on-trade channels is expected to surge with the growing presence of cafés and bars across the U.K., the U.S. and India.
With the increased availability of low-alcohol beers, the consumer base has grown, with growing number of millennials choosing lager to limit the alcohol intake. This has resulted in increased consumption of pale lager across the globe. The increased range of tastes in craft beers, as well as the growing desire for refreshing drinks, are likely to boost the lager industry.
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Key Takeaways from Market Study
- By product type, premium lager segment will continue to lead the global market, accounting for significant value share in 2022.
- Based on variety, pale lager segment will hold the largest share in the global lager market.
- By packaging, the glass segment is projected to grow at a steady rate during the forecast period.
- North America is expected to retain its dominant position in the global lager market accounting for lion’s share in 2032.
- The lager market in India is likely to expand at high CAGR during the forecast period.
“Increasing need for premiumization will aid the demand in the lager market. To capitalize on this, vendors are likely to rebrand their products as premium. Rising number of distribution arrangements between specialist retailers and providers for premium lager will also facilitate the growth in premium larger market.” said a lead analyst at FMI.
Who is winning?
Some of the leading companies offering lager are Anheuser-Busch Companies LLC, Asahi Breweries Ltd., Carlsberg Breweries A/S, China Resources Beer (Holdings) Company Limited, Diageo Plc, Heineken N.V., Kirin Brewery Company Limited, Molson Coors Beverage Company, Tsingtao Brewery Company Limited, United Breweries Holdings Limited, Founders Hill Brewing Co., LLC, Lakefront Brewery Inc, Anchor Brewing Co., LLC, Squatters Pubs and Craft Beers, Sierra Neveda Brewing Company, The Boston Beer Company, and Othes.
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Get Valuable Insights into Lager market
Future Market Insights, in its new offering, provides an unbiased analysis of the lager market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the lager market based on by Variety (Pale Lager, Vienna Lager, and Dark Lager), by Product Type (Standard Lager, Premium Lager, and Luxury Lager), by Packaging Type (Glass, Metal Can, and Others), by End-Use (HoReCa, Household Retail, and Others), by Sales Channel (B2B and B2C), and across seven major regions.
Lager Market by Category
By Variety, Lager Market is segmented as:
- Pale Lager
- Vienna Lager
- Dark Lager
By Product Type, Lager Market is segmented as:
- Standard Lager
- Premium Lager
- Luxury Lager
By Packaging Type, Lager Market is segmented as:
- Glass
- Metal Can
- Others
By End Use, Lager Market is segmented as:
- HoReCa
- Household Retail
- Others
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About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Beer Market Size: Beer market is estimated at US$ 665.1 Bn in 2022 and is projected to reach US$ 920.2 Bn by 2032, at a CAGR of 3.3% from 2022 to 2032.
Non-Alcoholic Beer Market Share: Non-alcoholic beer market size is projected to reach US$ 20.4 Bn in 2022, growing at a CAGR of 7.8% from 2022 to 2032.
Fruit Beer Market Trends: Fruit beer market is anticipated to be valued at US$ 317.5 Million in 2022. During the forecast period ranging from 2022-2032.
Premium Alcoholic Beverages Market Demand: Premium alcoholic beverages market is valued at US$ 0.7 Tn in 2022 and is projected to grow at a CAGR of 9.3% during the forecast period, to reach a valuation of US$ 1.7 Tn by 2032.
Industrial Alcohol Market Outlook: The global industrial alcohol market size is set to be valued at US$ 110.3 Bn in 2022 and it is expected to grow at a CAGR of 7.6% from 2022 to 2032. The global market is projected to reach US$ 194.7 Bn by 2032.
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