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The largest market is Asia Pacific, and North America is expected to be the fastest-growing market
North America dominates the market, driven by the United States which is one of the largest beer producers and consumers in the world. The U.S. beer market has seen strong growth in recent years, with production reaching 24.8 million barrels in 2021, an 8% increase. This growth has been fueled by the rising popularity of craft beer, with the number of craft breweries in the U.S. reaching 9,118 in 2021, up from 8,391 in 2019.
Major beer companies have been expanding their presence in the region through new product launches and partnerships. For example, in March 2023, WWE star Stone Cold Steve Austin partnered with El Segundo Brewing to release Broken Skull American Lager beer. Additionally, the growing preference for low-alcohol and non-alcoholic beers has also contributed to the North American beer market growth.
The market in Asia Pacific, in contrast, is driven by the rising disposable incomes, urbanisation, and changing consumer preferences. Additionally, expanding young adult populations, increasing westernisation of lifestyles, and a growing beer culture contribute to the region's accelerating demand for various types of beer products. The increasing popularity of beer in social gatherings and the rise of beer tourism are other trends driving the growth of the market.
*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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