According to IMARC Group latest report titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on craft beer market price analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global craft beer market size reached US$ 117.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 221.5 Billion by 2028 exhibiting a growth rate (CAGR) of 10.8% during 2023-2028.
Craft beer is a specialty beer produced by small, independent breweries, emphasizing quality, flavor, and traditional brewing methods. Distinguished by its artisanal approach, craft beer often deviates from mass-produced options, showcasing unique ingredients, innovative recipes, and a commitment to brewing excellence. Craft brewers prioritize creativity, experimentation, and community connections, fostering a culture of appreciation for diverse beer styles. The craft beer movement has gained popularity globally, appealing to enthusiasts seeking distinctive flavors and a more personal connection to their beverages. From hoppy IPAs to rich stouts, craft beer celebrates brewing craftsmanship, diversity, and a departure from mainstream brewing norms.
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The global market is majorly driven by the increasing shift in consumer preferences towards unique and high-quality beverages. Craft beer, emphasizing flavor diversity, innovation, and artisanal craftsmanship, aligns perfectly with this evolving taste. Furthermore, the rising awareness and appreciation for local and independent products are key drivers. Consumers actively seek out regional and small-scale breweries, fostering a sense of community and supporting local businesses. Craft beer’s association with authenticity and a connection to the brewing process resonates well in this context. Moreover, the growth of beer tourism contributes significantly. Enthusiasts are exploring and visiting breweries, creating a demand for unique and local brews. This trend boosts sales and creates a vibrant and engaged consumer base. Additionally, social media and digital platforms play a pivotal role. Craft breweries leverage these channels to share their stories, brewing techniques, and limited-edition releases, creating a direct and interactive relationship with consumers. This, in turn, is providing a boost to the market.
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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:
Breakup by Age Group:
- 21–35 Years Old
- 40–54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
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 (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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