Portland,OR, Nov. 07, 2019 (GLOBE NEWSWIRE) — According to the report, the global craft beer industry garnered $108.91 billion in 2018, and is estimated to reach $186.59 billion by 2025, growing at a CAGR of 8.0% from 2018 to 2025. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and changing market trends.
Increase in disposable income, changing consumer preferences, and rise in number of on-premise distribution channels drive the growth of the global craft beer market. Furthermore, surge in youth population & average number of female drinkers supplements the market growth. However, volatile raw materials prices and taxation & higher excise duties on imported as well as local beer impede the growth to certain extent. On the other hand, introduction of organic alcoholic beverages, surge in number of millennial populations and increase in social media marketing are expected to create multiple opportunities in the near future.
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The global craft beer market is bifurcated on the basis of product type, end user, age group, and region. Based on product type the market is divided into ale and lager. The lagers segment contributed the largest share in 2018, accounting for nearly three-fifths of the global craft beer market and is expected to dominate during the study period. On the other hand, the ale segment is expected to register the fastest CAGR of 8.8% throughout the study period.
Based on end user, the market is bifurcated into on-trade and off-trade. The off-trade segment held the largest share in 2018, accounting for nearly two-thirds of the global craft beer market. The segment is expected to maintain its dominance throughout the study period. On contrary, the on-trade segment would cite the fastest CAGR of 8.6% by 2025.
Based on geography, North America contributed the largest revenue share in 2018, accounting for more than one-third of the global craft beer market and is projected to dominate the market throughout the forecast period. On the other hand, the Asia-Pacific region would register the fastest CAGR of 5.70% till 2025.
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The report provides an in-depth analysis of the major market players including BAVARIA N.V., Carlsberg Group, Anheuser-Busch InBev, Radeberger Brewery, Erdinger Brewery, Oettinger Brewery, Heineken N.V., Lasco Brewery, and Diageo PLC.
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