Global Craft Beer Market - Geographical Segmentation and Growth Forecast by Technavio

LONDON--(BUSINESS WIRE)--#AlcoholicBeverages--The global
craft beer market
is expected to grow at a CAGR of more than
11% during the forecast period, according to Technavio’s latest report.



In this report, Technavio
covers the market outlook and growth prospects of the global
craft beer market
for 2017-2021. The market is segmented
based on product, which includes (IPA, seasonal, pale ale, amber ale,
lager, wheat, bocks, fruit beer) and distribution channel (on premises
and off premises).

The global craft beer market is highly fragmented based on several
parameters, such as product type, regional and global vendors,
distribution channels, and end-users. In terms of geography, much of the
craft beer production and consumption is concentrated in countries like
the US, the UK, Germany, Poland, France, Spain, Russia, and Canada.
Brazil, Italy, Switzerland, China, Japan, Mexico, Australia, and South
Africa are other major countries of the world wherein craft beer
consumption is increasing steadily.

Technavio’s food
and beverages
research analysts categorize the global craft beer
market into the following segments by regions:

  • Americas
  • EMEA
  • APAC

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Americas: largest craft beer market

“North America is the largest market for craft beer in the Americas,
with the US and Canada being the largest consumers of craft beer
products. The craft beer market in Latin America is still in the growth
phase, but the market is projected to grow in the range of 20%-40%
depending on countries of this region. For example, in 2016, the sales
of craft beer grew by 25% in Chile, when compared to that of the
previous year,”
says Manjunath Reddy, a lead analyst at Technavio
for research on alcoholic
beverages
.

The rising disposable incomes of the consumers in developing economies
of Latin America, the increasing value of exports of craft beer products
from the US, shifting consumer preferences toward low-alcoholic content
beverages, and the rising number of microbreweries are the major drivers
that will impact the growth of craft beer market in the Americas during
the forecast period.

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Craft beer market in EMEA

“The market for craft beer is growing exponentially in several
countries in EMEA. The craft beer market in EMEA is booming, with the
increasing number of consumers preferring exotic and innovative flavors
of craft beers brewed in traditional style,”
adds Manjunath.

IPA is the most popular variant of craft beer that is widely consumed in
EMEA. Pilsners are popular in Germany and Poland. The rising number of
microbreweries and the increasing number of M&A by major players are the
drivers that will impact the growth of the craft beer market in EMEA
during the forecast period. The growing consumer preferences for premium
products due to an increase in disposable incomes will also have an
impact on the market growth.

Craft beer market in APAC

India, China, Japan, Vietnam, Singapore, Australia, South Korea, and New
Zealand are the major countries in APAC where the growth potential for
craft beer products is huge. Craft beer market in APAC is at a nascent
stage, as it projected a growth of 12.9% in 2016. China is the largest
market for craft beer products in APAC. While Japan is the
fastest-growing craft beer market, as the country registered a growth
rate of nearly 22% in terms of revenue in 2016.

The large population of China and India presents a huge market potential
for craft beer vendors to popularize their beer products. Australia and
New Zealand are the major markets for craft beers in the Pacific region.
The craft beer revolution is thriving in Australia with the growing
number of brewpubs and increasing exports of craft beer products from
the US.

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