NEWARK, Del, March 24, 2023 (GLOBE NEWSWIRE) -- The global growlers market is predicted to register a CAGR of 2.7% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 556.2 million in 2023 to US$ 726 million by 2033 end.
The adoption of growlers is projected to increase over the forecast period. This is supported by the beer consumption pattern, which shows an inclination towards more diversified, and high-end alcoholic beverages among consumers, in several developed and developing countries. The industry is assessed to be impacted by changing purchasing habits as the young generation exhibits a strong appetite for new products offering unique taste, freshness, and high quality. Additionally, better living standards and strengthening emerging economies are projected to expand the market horizon over the upcoming years.
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Alcohol manufacturers are scaling on the invigorating market economy by introducing craft beer and bestowing rich options to alcohol consumers. The proliferation of craft beer is projected to strengthen market growth in the years to come. The surge of craft brewing among middle-class consumers, attributable to its cultural experience, has consequently lent a significant push to the growlers industry. The availability of growlers in a range of sophisticated shapes, designs, and sizes, is projected to propel market growth over the stipulated time frame.
Key Highlights of the Growlers Market:
- The North America growlers industry is projected to attain US$ 174.8 million by 2023 year-end. The market is projected to expand at 2.1% over the forecast period, to attain US$ 215.18 million by 2033. The highly saturated market for alcoholic beverages and heightened receptivity to non-alcoholic beverages has led to market precedence in North America over other regions.
- Europe region is projected to trail behind North America, attaining market revenue of US$ 162.4 million by 2033. The region is estimated to assume a CAGR of 2.7% over the next 10 years, and reach a total amount of US$ 211.98 million by 2033. The expansion of brewpubs and the development of sophisticated growlers with enhanced features are predicted to push market growth.
- Latin America is the third significant region, substantially contributing to the overall market growth. The market is expected to generate revenue of US$ 105.8 million in 2023. The market is anticipated to expand at 2.4% CAGR over the forecast period.
- East Asia, which includes countries like China, Japan, and South Korea, is assessed to witness robust growth over the forecast period. The region is forecasted to register a 4.4% CAGR throughout the decade. In 2023, the market is expected to attain US$ 32.4 million over the forecast period.
Latest Developments in the Market:
- In 2021, Drifters brewery declared the introduction of its fifth growler station in Mumbai, India. Growler stations are referred to as places or hubs where one can refill growlers with beer. This new launch has a delivery and pickup service for filling growlers at a robust pace due to surging beer demand among beer consumers in India.
- In June 2017, Ardagh Group launched its first-ever 12oz clear beer bottle on its website named BuyOurBottles. The product is made in the United States, using 100% and endlessly recyclable flint glass. The company states that with the expansion of flint glass bottles, craft soda, craft brewers, and cider customers, along with kombucha and functional beverages, customers can take advantage o brand differentiation. The flint glass bottle also helps protect the beverage’s flavor.
Key Players:
- Ardagh Group S.A.
- Alpha Packaging
- William Croxsons & Sons Limited
- GrowlerWerks, Inc.
- Global Glass Solutions
- Orange Vessel Co.
- Berlin Packaging LLC
- Boelter Companies, Inc
- Drink Tanks Corporation
- Zenan Glass
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Growlers Market by Category
By Material:
- Plastic
- Glass
- Metal
- Ceramic
By Capacity:
- 32 Oz
- 64 Oz
- 128 Oz
By Application:
- Non-alcoholic
- Alcoholic
- Beer
- Wines
- Others
By Sales Channel:
- Offline
- Breweries
- Specialty Stores
- Convenience
- Online
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
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Table of Content
1. Executive Summary | Growlers Market
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
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
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