The global Beer Market is estimated to grow up to USD 989.48 billion by 2028. The market revenue was USD 768.17 billion in 2021. The market experts project a CAGR of 3.68% for the global Beer Market during the projected period 2022-2028.
Compare to other alcoholic beverages, beer is the most popular one. Due to various flavors and tastes, beer is popular across different age groups. The demand for flavored beer has increased exponentially across the world. The adoption of new brewing techniques has opened up growth opportunities for the global Beer Market size .
The onset of the COVID-19 pandemic had affected the Beer Market across the globe. Due to closures of restaurants and hotels and retail stores the market had suffered remarkably. During the pandemic period, the growth of the market was also hampered due to low production, lesser workforce, and disruption in transportation. Though companies and governments are taking appropriate measures to revive the market and steady growth is forecasted in the coming years.
Increasing production and transportation costs are the main restraints for the growth of the global Beer Market.
During the pandemic and post-pandemic period, the use of E-commerce platforms has increased multifold. This has impacted the global Beer Market Growth positively.
The Beer Market Outlook is divided based on type, ingredients, packaging, and region.
Based on the packaging type, the global Beer Market overview is segmented into two sectors- glass bottles and metal can. Across the world, the most popular packaging material is the glass bottle. Due to the sustainability and reliability of glass, this market is expected to grow significantly during the forecast period. Other factors that contribute to the steady growth of the glass bottle sector are glass can be recycled and reused.
Based on ingredients, the market is segmented into hops, yeast, malt, enzymes, and others.
Based on the type, the market is divided into lager, ale, stouts porters, and others.
The global Beer Market is segmented into these regions- South America, North America, Europe, Asia-Pacific, and Africa Middle East.
Europe is the largest producer of beer. Additionally, beer is an integral part of the heritage, culture, and nutrition of all European countries. The European region will hold the maximum share of the Beer Market Revenue during the forecast period.
Asia-Pacific is the second-largest market of beer followed by North America. Lifestyle change and disposable income are the main contributing factors to the growth of the Beer Market in Asia-Pacific.
Another fast-growing market of beer is the South American region. Due to increasing disposable income and rapid urbanization, this region is expected to show steady growth.
Adoption of new technology and customer-centric approaches taken by the companies will help in the growth of the global Beer Market.
In 2020, AB InBev had launched a new product Duplo Malt Lager. This product offers exceptional taste owning to the blending of Munich Salt and Pilsner Malt.
A Dutch Multinational Brewing Company Heineken NV had acquired the control of United Breweries Limited (UBL) in India in July 2021.
A Canadian Multinational Brewing Company Molson Coors Beverage Co. had launched its new product Moon Haze in the US in August 2021.
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