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Beer is referred to as an alcoholic beverage made with water, starch source (such as malted barley), brewer's yeast, flavouring such as hops, and various cereal grains, such as rice, wheat, corn, and rye. It has an alcohol content ranging from below 3% to 40% alcohol by volume (ABV), depending upon the style and recipe of the formulation. Beer like ale and lager are largely consumed across the world.
The beer market expansion is being fuelled by the premiumisation of beer as manufacturers are utilising high-quality ingredients and advanced brewing techniques to produce superior and high-end products. The market is further impelled by the introduction of new flavours, including blueberry, strawberry, peach, chocolate, and lemon, which enhances the taste of beer. For instance, American brewing company Anheuser-Busch’s Natural Light, a reduced-calorie light beer brand, recently launched Naturdays, a strawberry lemonade-flavoured beer. Further, the beer market is witnessing an increase in the demand for beer, particularly in emerging economies due to a large base of young population, leading to a rise in the investments by various international alcohol brands.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the beer market reached an approximate value of USD 649.63 billion.
The market is expected to grow at a CAGR of 3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 847.65 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing preference for beer, investments by industry players in emerging markets, and growing younger population.
Key trends aiding market expansion include the premiumisation of beer, introduction of low calorie and alcohol-free variants, and popularity of new flavours like blueberry, strawberry, peach, chocolate, and lemon are the major trends of the market.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The leading product types in the market are standard lager, premium lager, and speciality beer, among others.
The alcohol content of beer in the market includes high, low, and alcohol-free.
Supermarkets and hypermarkets, on-trades, speciality stores, and convenience stores, among others, are the leading distribution channels of beer in the market.
Key players in the market are Asahi Group Holdings Ltd., Anheuser-Busch InBev, Carlsberg Group, Heineken N.V., Sierra Nevada Brewing Co., and United Breweries Ltd, among others.
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