by Beer is one of the most popular alcoholic beverages consumed worldwide. It is brewed using malted barley, hops, yeast and water. Modern beer production involves the use of advanced brewing equipment and different styles of beer have emerged over the years like pale lager, IPA, wheat beer etc. Craft beer produced by small independent breweries using traditional brewing methods is gaining popularity due to its unique taste and variety. The global beer market offers health advantages associated with moderate beer consumption such as reduced risk of cardiac issues. Beer is also considered a social drink that enhances the drinking experience. The global beer market is estimated to be valued at US$ 821.36 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed in the global beer market is the growing preference for craft beer among consumers, especially younger demographics. This has spurred craft breweries to experiment with different beer styles, seasonal varieties and unique flavors. Innovations in packaging like cans is also driving the craft beer segment. Similarly, low and no-alcohol beer varieties are gaining traction due to increased health consciousness. Players are introducing new product lines targeting this segment. Sustainable and eco-friendly packaging solutions is another trend with breweries opting for lighter weight bottles and cans made from recycled materials. Local sourcing of ingredients is also emphasized to reduce carbon footprint. These trends are expected to shape the future outlook of the global beer industry.
Porter’s Analysis
Threat of new entrants: The beer market has high capital requirements and regulations which make it difficult for new players to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternatives and brands in the market.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to low switching costs and availability of substitute ingredients.
Threat of new substitutes: Threat from substitutes like wine and spirits is moderate as beer has customer preference and occasion-based consumption.
Competitive rivalry: The market is highly competitive with the presence of global and local players.
Key Takeaways
The Global Beer Market Size is expected to witness high growth.
Regional analysis: The Asia Pacific region is expected to dominate the market and witness the fastest growth during the forecast period due to rising disposable income, changing lifestyle and growing young population in countries like China and India.
Key players
Key players operating in the beer market are Keir Surgical Ltd., Case Medical, Scanlan International, Inc., Koch Industries, Getinge Group, B. Braun (Aesculap, Inc.), Xerafy, Mobile Aspects, Key Surgical, Inc., Spatrack Medical Limited, Fortive Corporation Group, Haldor Advanced Technologies, Tgx Medical Systems, Becton, Dickinson and Company, Intechnology Distribution Pty Ltd., Nutrace, Steris Insturment Management Services, Material Management Microsystems, Asanus Medizintechnik GmbH Inc., and Stanley Healthcare (Division of Stanley Black & Decker), among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
