Beer Market to Reach $850 Billion by 2030, Driven by Craft Beer Trends

BOSTON - July 31, 2024 - PRLog -- The global Beer Market is set to reach a substantial USD 850 billion by 2030, growing at a compound annual growth rate (CAGR) of 6%, according to the latest report from Next Move Strategy Consulting.

The beer industry, renowned for its diverse range of alcoholic beverages including lagers, ales, stouts, and specialty brews, continues to thrive as one of the most consumed alcoholic drinks worldwide. The market's growth is fueled by several key factors:

1. Craft Beer Trend: The craft beer segment is experiencing remarkable growth due to consumer preference for unique flavors and brewing techniques. Craft breweries are introducing innovative products that cater to diverse tastes, driving market expansion.
2. Expanding Global Consumption: Rising disposable incomes and urbanization are contributing to increased beer consumption, particularly in emerging markets. Changing lifestyles and greater access to diverse beer options are further bolstering the market.
3. Innovation in Beer Products: The beer market is witnessing continuous innovation, with new flavors, brewing techniques and packaging solutions enhancing consumer appeal and expanding market reach.
4. Social and Cultural Factors: Beer remains a staple in social and cultural events, including festivals, sports events, and gatherings. Its popularity in these settings supports sustained demand and market growth.
5. Premium and Specialty Beers: There is a growing consumer preference for premium and specialty beers, such as organic and low-alcohol options, which are contributing to market growth.

The report outlines key market segments, including product types (lager, ale, stout, specialty beer, and non-alcoholic beer), packaging (bottles, cans, kegs, and others), and distribution channels (supermarkets/hypermarkets, liquor stores, bars/restaurants, and online retailers). Regional insights highlight North America as a leading market due to its strong craft beer culture and high consumption rates. Europe and Asia-Pacific are also significant markets, with notable growth in countries like China and India.

Key Players in the beer market include Anheuser-Busch InBev, Heineken N.V., Carlsberg Group, Molson Coors Beverage Company, Diageo plc, Asahi Group Holdings, Kirin Holdings Company, Limited, Constellation Brands, Inc., SABMiller plc, and BrewDog.

Looking ahead, the beer market is poised for continued growth, driven by innovations in brewing, increasing global consumption, and a strong preference for diverse and premium beer options. The expansion of craft breweries and the rise of health-conscious drinking trends are expected to shape future market dynamics.

Access Full Report: https://www.nextmsc.com/report/beer-market