IMARC Group, a leading market research company, has recently released a report titled “Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global beer market research report, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Beer, an extensively enjoyed alcoholic beverage, consists of a combination of hops, water, and cereal grains, including wheat, rice, corn, and rye. The mixture undergoes fermentation with yeast, where sugar is consumed and transformed into ethanol and carbon dioxide. This process yields varying levels of alcoholic content, ranging from less than 3% to as high as 40% alcohol by volume, depending on the specific recipe and style. Moderate consumption of beer is associated with multiple health benefits, such as the prevention of heart ailments, type 2 diabetes, and circulatory diseases, maintenance of cognitive function during aging, and the reduced risk of ulcers caused by Helicobacter pylori. Consequently, beer is in widespread demand across the globe.
How big is the global beer market?
The global beer market size reached US$ 660.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 747.7 Billion by 2028, exhibiting a growth rate (CAGR) of 1.9% during 2023-2028.
Current Trends Shaping the Global Beer Market
The global beer market is primarily driven by the shifting preferences toward premium alcoholic beverages, which is fueled by the growing trend of socializing and parties, particularly among millennials, working professionals, and young adults. Furthermore, the utilization of beer as a cocktail ingredient in distilleries is also contributing to market growth. Besides this, the escalating popularity of using customized beer bottles as gifts is further bolstering the market growth.
Additionally, in order to cater to evolving consumer needs, major players are introducing flavored beer in unique botanical and fruit variants and making them available for purchase through e-commerce channels, which are acting as significant growth-inducing factors. Apart from this, the elevating product promotion by leading manufacturers on social media platforms and leveraging celebrity endorsements to influence consumer purchasing behavior are expected to bolster the beer market in the coming years.
Who are the key players operating in the industry?
Some of the top beer brands in world are -
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What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
Packaging Insights:
Production Insights:
Alcoholic Content Insights:
Flavor Insights:
Distribution Channel Insights:
Market Breakup by Region:
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