According to IMARC Group latest report titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on craft beer market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global craft beer market size reached US$ 130.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 293.4 Billion by 2032 exhibiting a growth rate (CAGR) of 9.2% during 2024-2032.
Craft beer refers to beer produced by small, independent breweries that prioritize quality, flavor, and traditional brewing methods. These breweries often emphasize innovation, distinctive recipes, and a hands-on approach to brewing, setting them apart from larger, mass-market beer producers. Craft brewers are known for their creativity in experimenting with diverse ingredients, brewing techniques, and unique flavors, resulting in a wide variety of beer styles that cater to discerning and adventurous consumers. Characterized by a focus on local ingredients, community engagement, and a commitment to artisanal craftsmanship, craft beer has become a significant and influential segment of the beer industry.
The term "craft" reflects a dedication to authenticity, small-scale production, and a passion for the art of brewing. Craft breweries often prioritize individuality and a connection with their consumers, fostering a culture that appreciates the richness and complexity of beer beyond mainstream, mass-produced options. The craft beer movement has gained global popularity, appealing to enthusiasts seeking a diverse and flavorful beer experience.
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Market Trends:
The global market is majorly driven by the changing consumer preferences. In line with this, the increasing demand for unique flavors is positively influencing the market. Furthermore, a cultural shift towards supporting local and independent businesses is catalyzing market growth. Besides, the escalating consumer interest in diverse and unique flavor profiles is propelling the market. Craft breweries often experiment with various ingredients, brewing techniques, and styles, providing consumers with a wide array of options beyond the standardized offerings of mass-produced beers. This focus on flavor innovation appeals to consumers seeking a more nuanced and distinctive drinking experience, fostering a culture that celebrates the craftsmanship and creativity of small, independent breweries. Moreover, there is a growing movement towards supporting local businesses and a preference for authenticity in consumer choices. Craft breweries often embody these principles, emphasizing community engagement and using locally sourced ingredients when possible. This, in turn, is creating a positive outlook for the market.
The "buy local" ethos has gained traction, with consumers expressing a desire to connect with the origin and story behind the products they consume. Craft breweries, deeply embedded in their local communities, capitalize on this trend by cultivating a sense of authenticity and a direct link between the consumer and the brewing process. This connection fosters brand loyalty and contributes to the market growth of craft beer as consumers increasingly appreciate the transparency, craftsmanship, and personal touch associated with smaller, independent brewers.
Additionally, the craft beer movement has been fueled by a cultural shift in which consumers place a premium on experiences rather than just products. Craft breweries often provide unique and inviting spaces for consumers to engage with the brewing process, taste a variety of beers, and participate in events. This experiential aspect creates a distinct identity for craft beer, turning it into more than just a beverage but a part of a lifestyle. As consumers seek memorable and authentic experiences, the craft beer market continues to grow by aligning with these cultural shifts and offering a product that goes beyond simple consumption.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Anheuser-Busch InBev SA/NV
- Bell's Brewery Inc.
- Constellation Brands Inc.
- G. Yuengling & Son Inc.
- Diageo Plc
- Duvel Moortgat
- Heineken NV
- New Belgium Brewing Company Inc.
- Oskar Blues Brewery LLC
- Sierra Nevada Brewing Co.
- Stone & Wood Brewing Co. (Lion Brewery Co)
- The Boston Beer Company Inc
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Craft Beer Market Segmentation:
Our report has categorized the market based on region, product type, age group and distribution channel.
Breakup by Product Type:
- Ales
- Lagers
- Others
Breakup by Age Group:
- 21–35 Years Old
- 40–54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
- On-Trade
- Off-Trade
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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