The latest report by IMARC Group, titled ‘Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,' offers a comprehensive analysis of the craft beer market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global craft beer market size reached US$ 130.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 293.4 Billion by 2032 exhibiting a growth rate (CAGR) of 9.2% during 2024-2032.
Craft beer epitomizes the artistry and ingenuity of brewing, characterized by its emphasis on flavor, quality, and traditional methods. This beverage segment distinguishes itself from mainstream brewery products through its focus on diversity, creativity, and local ingredients, often produced by independent and smaller-scale breweries. The types of craft beer are vast, encompassing a range of styles such as IPAs, stouts, lagers, and ales, each offering unique tastes and experiences. The advantages of craft beer lie in its ability to deliver a richer palate of flavors, foster a sense of community, support local economies, and provide a personal touch that mass-produced beers often lack. This segment celebrates the brewer's art, offering consumers a wide array of choices, innovative flavors, and premium quality products that reflect the distinctive characteristics of their origins.
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Market Trends:
The global market is experiencing robust growth, fueled by a rising consumer preference for artisanal and flavor-rich beers over standard lagers and ales. This shift is driven by an increasing consumer desire for unique, high-quality, and locally sourced beverages, aligning with broader trends toward authenticity and sustainability. Along with this, the proliferation of microbreweries and brewpubs, alongside the expanding portfolio of craft beer styles, influences the market's dynamism and appeal to a diverse consumer base.
In addition, the cultural shift towards experiential drinking, where consumers seek not just a product but an experience, further propels market growth. Apart from this, social media and digital marketing are also playing pivotal roles in increasing awareness and fostering a community around craft beer, enhancing its popularity among millennials and Gen Z consumers. With changing consumer tastes and a growing willingness to experiment with new flavors, the market is embracing innovation while honoring traditional brewing craftsmanship.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Anheuser-Busch InBev SA/NV
- Bell's Brewery Inc.
- Constellation Brands Inc.
- G. Yuengling & Son Inc.
- Diageo Plc
- Duvel Moortgat
- Heineken NV
- New Belgium Brewing Company Inc.
- Oskar Blues Brewery LLC
- Sierra Nevada Brewing Co.
- Stone & Wood Brewing Co. (Lion Brewery Co)
- The Boston Beer Company Inc
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Craft Beer Market Segmentation:
Our report has categorized the market based on region, product type, age group and distribution channel.
Breakup by Product Type:
- Ales
- Lagers
- Others
Breakup by Age Group:
- 21–35 Years Old
- 40–54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
- On-Trade
- Off-Trade
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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