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Craft Beer Market

Around 25% of Craft Beer Revenue to be contributed by Pale Ale Consumption, Reports Fact.MR

Published : 31 Jan 2022 Industry: Food & Beverage

Craft beer sales are expected to reach US$ 87 Bn as of 2022, according to a recent report by Fact.MR. The industry is forecast to grow at a CAGR of 6.9% over the forecast period of 2022-2032, reaching US$ 174.68 Bn by 2032.

In the course of the previous five years, the market expanded steadily at a CAGR of nearly 5%, valued at over US$ 81 Bn by the end of the period. Despite declining prospects in 2020 due to COVID-19, growing reliance on instant beverages during lockdown drove major e-commerce companies to partner with leading beverage manufacturers, enhancing the availability of craft beer across a wide range of adult demographics.

Many factors are involved in creating the perfect beer or ale. It can be difficult to define what craft beer is, but small, independent breweries are usually the ones producing unique products. A variety of flavors is used for attracting customers, including honey, fruits, tart, sweet and sour, funky flavors and spicy.

Key Takeaways from the Market Study

  • North America is expected to be a lucrative region, accumulating 36% market revenue
  • Craft beer consumption to increase in Europe, accounting for 41% of global demand, fueled by premium brands.
  • With a CAGR of 5.2%, microbreweries are expected to retain their prominence through 2032.
  • Among products, pale ale will experience maximum sales, accounting for 25% of total revenue
  • Global craft beer market to experience almost 2x from 2022 to 2032

“Craft beer's growing demand for natural ingredients and flavors, in conjunction with increased health consciousness, is resulting in an increase in the use of natural flavors,” says a Fact.MR analyst.

Competitive Landscape

Manufacturing companies can increase revenue and market share through strategic collaborations by meeting consumer demand and increasing production. The end-user can benefit from eco-friendly products thanks to the emergence of new products and technologies.

  • Constellation Brands, Inc., announced its acquisition of Florida-based brewery, Funky Buddha Brewery, in August 2017, reaffirming its plan to dominate the high-end beer sector in the U.S.
  • With the growing demand for craft beer, AB InBev's venture capital unit, ZX Ventures, opened up a new brewery in Wuhan, China in February 2018.
  • Australian Craft Brewers Company Stone and Wood was acquired by Lion, one of the major players in the domain of alcoholic beverages, on 9th September 2021. In addition to acquiring Stone and Wood, Lion may be able to acquire Little Dragon, Sunny Seltzer and Fixation by purchasing full ownership of Farmentum Group, the parent company of Stone and Wood.

More Valuable Insights

Fact.MR's, in its new offering, presents an unbiased analysis of the craft beer market, presenting historical demand data (2017-2021) and forecast statistics from 2022 to 2032.

The study divulges essential insights on the market based on product (brown ales, pale ales, porters, stouts, pale lagers, pilsners, marzens, bocks and other products), brewer (American sour, non-alcoholic, Belgian fruit lambic, flanders red ale, and Belgian gueuze), and sales channel (microbreweries, brewpubs, contract brewing companies and independent regional craft brewing companies), across six major regions of the world (North America, Latin America, Europe, Japan, APEJ and the Middle East & Africa)

Fact.MR’s Domain Knowledge in Food & Beverages

Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Nandini Roy Choudhury

Fact.MR

Sr. Consultant – Food and Beverages

E-mail: nandini@factmr.com

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Craft Beer Market

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Craft Beer Market Analysis Report By Product (Brown Ale, Pale Ale, Porter, Stout, Pale Lager, Pilsner, Marzens, Bocks) By Brewer (American Sour, Non-Alcoholic, Belgian Fruit Lambic, Craft Beer) By Sales Channel (Microbreweries, Brewpubs), By Region - Global Insights 2022-2032