Fact.MR has recently added a new report to its vast online database. This research study is titled as “Craft Beer Market Report” which presents an in-depth study about the production, consumption, market volume, revenue (million USD) and market share across different geographical regions.
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Craft beer is produced traditionally, with limited productivity as it falls under microbrewery industry. Craft beers are usually characterized on the basis of their quality, brewing technique, and flavor. The term craft beer is usually reserved for beers prepared by breweries established after 1970’s, however it can be used for breweries that are older, with similar focus.
Craft beer industry is one the oldest industries across the globe. Chief craft beer establishments have been commercial, and independently-owned, as they are included in the small-scale industry sector. Craft beer is highly expensive, as its production involves old traditional brewing procedures, and the cost of production is substantial. Being a traditionally prepared drink, craft beer is attracting interests of consumers, and they are willing to spend more money on it. Governments in countries such as China, Mexico, the U.K, Belgium, New Zealand, and Australia are promoting craft beer production, and incorporating new breweries. This will further lead to a positive contribution of craft beer industry to employment generation, and economic development.
Although the market for craft beer comprises small-sized players, market consolidation & expansion activities have been increasing among few of the market’s largest brewers. Despite sales of craft beer being poised to plateau on the back of market saturation, demand from consumers will continue to be higher in the foreseeable future. Presence of numerous regional craft breweries, and local microbreweries in developed economies, such as Europe, has made the craft beer market to be highly fragmented in nature. Vendors of craft beer are now focusing on differentiating their products & services via a unique and clear value proposition, in a bid to acquire a competitive edge over competitors. Some factors propelling demand for craft beer include shifts in consumer preferences and demand, rise in purchasing power of people, and continuously changing lifestyle of people across the globe.
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10 Key Estimations for Future of Global Craft Beer Market
1) Europe will retain its dominance in the global craft beer market during 2017 to 2022. American beer have been successfully penetrating into the European market, with increasing demand for rare, innovative, and exotic flavors. Craft beer in Europe is expected gain a competitive edge over other alcoholic products available in the region. These factors will drive the market growth in Europe.
2) Craft beer sales in Asia-Pacific excluding Japan (APEJ) will register the fastest expansion as compared to all the other regional segments detailed in Fact.MR’s report.
3) Based on fermenting style, American sour craft beer will remain dominant in the market, accounting for approximately one-third revenue share of the market over the forecast period.
4) Belgian Gueuze will continue to be the second largest fermenting style segment in the global craft beer market.
5) Based on distribution channel, Craft beer sales in independent regional craft brewing company, and contract brewing company will exhibit a parallel expansion through 2022.
6) Microbreweries will continue to be the most lucrative distribution channel in the global craft beer market.
7) Bocks are estimated to remain the fastest-selling product in the global craft beer market.
8) Brown ales will continue to be the most-lucrative craft beer, with sales poised to exceed revenues worth US$ 4,000 Mn by the end of the forecast period.
9) Sales of pale ales will register a relatively lower CAGR than that of bocks, and comparatively higher CAGR than that of brown ales through 2022.
10) Fact.MR’s report identified key players in the global craft beer market, which include North American Breweries Inc., SweetWater Brewing Company, LLC, Bells brewery Inc., Duvel Moortgat NV, Heineken Holding N.V., Anheuser-Busch InBev SA/NV, Sierra Nevada Brewing Co., Stone Brewing Co., D.G. Yuengling & Son, Inc., and The Boston Beer Company, Inc.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized “Food & Beverages market research reports”. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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