Rapid Urbanization to Intensify the Global Beer Market With 3.34% of CAGR During the Forecasted Period
“According to a new market research report published by Inkwood Research, the global beer market is projected to evolve at a compound annual growth rate of 3.34% from 2017 to 2025.”
“Browse 13 market Data Tables and 47 Figures spread over 100 Pages, along with an in-depth TOC on global beer market forecast 2017-2025.”
Beer is known as the oldest and broadly consumed alcoholic drink across the globe. In terms of popularity, it ranks third, followed by tea and water. The beer market has business across the world and is making its mark, especially in the emerging economies. The rising attractiveness of beer in cultural gatherings, changes in the consumption habits of alcoholic beverages and surging financial status are the key factors augmenting the beer market globally.
Modernization and Urbanization are playing a vital role in the increased consumption of beer in emerging countries. The market is also elevating with the high demand from the young generation; this demand is proposed based on the innovative packaging and marketing promotions, accompanied by new products launched with varied flavours by the vendors. The global beer market comprises of assorted international giants and a number of affluent small scale establishments scaling from pubs to regional breweries.
Change in Lifestyle and Consumption Habits to Boost Beer Market Globally
Change in lifestyle is one of the top drivers contributing to the beer market growth. The consumption of alcohol has always been a prevalent stigma in society. However, thanks to globalization and indulgence of western culture in the urban population, leading a shift in the dogma towards alcohol consumption. This has also led to a transformation in attitude toward alcohol and individuals’ social habits. Further, the penetration rate of beer in metro cities is increased to a considerable extent, which indicates tolerance toward alcohol consumption, driving the beer market globally.
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Among the four key distribution channels, namely, Supermarkets/Hypermarkets, online retailing, duty-free Stores and liquor specialist store. Online retailing is the fastest-growing distribution channel, owing to the emergence of e-commerce industry across the world, increased internet penetration and rise in the smartphones consumer base. The beer market is rolling its dice by going online. Convenient delivery, competitive pricing, a wide range of product selection and access to vast information online is creating an attractive shopping alternative for the customers. With intense competition, the market has seen many value propositions offered by key retail channels, from wide-ranging product assortment to innovative services.
The Asia Pacific holds the largest share of the global beer market. The developing countries from the region such as China, India, Japan, South Korea, Thailand, Malaysia, Australia, New Zealand and others, are the emerging markets for alcoholic drinks. The presence of the key players and a trend of modernization are the key motivators for the growth of the market. China, Japan and India are the potential markets for beer. Being the most populous countries in the region, they promise a greater target group of consumers to the global as well as domestic manufacturers and suppliers of the beer products. On the other hand, increased taxation and duties on alcoholic beverages, strict government regulations, campaigns against the consumption of alcoholic drinks, religious and cultural beliefs in several countries and increased competition from non-alcoholic beverages may slow down the Asia Pacific beer market growth in the coming years.
The established giants in the global beer market include Boston Beer Company, United Breweries Limited, Ambev S.A., Tsingtao Brewery, Anheuser Busch InBev, Molson Coors Brewing Company, Carlsberg Group, Diageo Plc, China Resources Enterprise, Heineken N.V. and others.
Currently, the global beer market is facing intense competition and is majorly influenced by the cultural, religious, economic and political environment. The leading players in the market are focusing on intensifying their hold by maneuvering various strategies like mergers, acquisitions and product launch, which is also brightening the prospects of the overall market.
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