by The global beer market is a multibillion-dollar industry comprising beer varieties such as lager, ale, stout and malt. Beer is one of the most popular alcoholic beverages consumed worldwide owing to its refreshing taste and relatively lower alcohol content. It is made by brewing and fermenting grains like malted barley, wheat or rice. Advancements in brewing techniques have led to new product developments such as gluten-free, low-alcohol and flavored beer varieties. The growing demand for low-calorie and ready-to-drink beverages is also promoting innovations in the beer market.
The Global Beer Market is estimated to be valued at US$ 1.24 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the beer market are B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., Ortho Regenerative Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED, and Smith+Nephew, CONMED Corporation. These major players are focusing on new product developments and expanding their global footprint through mergers and acquisitions.
The Beer Market Size is expanding due to the growing demand for alcoholic beverages, especially among millennial and young adult consumers, fueling sales of beer around the world. Rising disposable incomes and urbanization are enabling people to spend more on leisure activities and social drinking occasions. The market is witnessing high growth in developing countries of Asia Pacific and Latin America due to changing lifestyles and liberalization of alcohol regulation policies.
Major beer manufacturers are investing heavily in global expansion through exports, acquisitions and greenfield projects. Emerging economies like India and China present significant growth opportunities for foreign and local brewers alike due to their large and youthful population base. North America and Western Europe continue to dominate the global beer landscape but their market shares are gradually declining.
Market Key Trends
New product development through innovations in flavors, packaging and production processes is one of the key trends being observed in the beer market. Companies are introducing new varieties such as honey-flavored, grapefruit-flavored and berry-flavored beers to appeal to changing consumer preferences. Ready-to-drink bottled or canned beers are gaining popularity due to their portability and convenience. In addition, brewers are focusing on specialty craft beer segments and launching premium organic or gluten-free varieties to attract health-conscious customers. Sustainable production practices and eco-friendly packaging solutions are also becoming important focus areas for major beer companies.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established distribution channels lower barriers to entry. However, well known brands and customer loyalty to existing producers pose challenges to newcomers.
Bargaining power of buyers: Large buyers such as supermarkets have significant influence over pricing.
Bargaining power of suppliers: Few large multinational companies dominate production, giving them strong influence over prices of raw materials such as hops and malt.
Threat of new substitutes: Non-alcoholic beverages offer competition, but beer remains popular social drink and no clear substitute exists.
Competitive rivalry: Industry dominated by few major global brewers vying for market share worldwide and battling craft beer segment.
Geographical Regions
Europe accounts for the largest share of the global beer market in terms of value. Germany, United Kingdom, Russia, Spain, Poland are amongst the highest beer consuming nations in the region. Developed markets in Europe provide attractive growth opportunities.
Latin America, Middle East and Africa are projected to be the fastest growing regional markets during the forecast period. Rising disposable incomes, growing social acceptance of beer, and expansion efforts by large brewers in developing economies will drive growth.
North America represents a major regional market for beer, led by the United States. Changing consumer preferences towards craft varieties and growing popularity of premium import beers are boosting demand. Canada also offers bright prospects supported by a young drinking population and diverse beer styles.
Asia Pacific exhibits immense scope for market expansion, with China and India standing out as priority markets based on their large and evolving consumer bases. Urbanization, rising incomes, and youth culture trending towards western drinks are supporting Asia Pacific’s rising status.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
