Report

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. The market is experiencing steady growth driven by the growing consumer preference for unique and artisanal beer flavors, the increasing focus on health-conscious choices, such as low-alcohol and non-alcoholic beers, and continuous advancements.

Craft Beer Market Analysis:
Market Growth and Size: Due to shifting consumer preferences and a growing population, the global craft beer market share is expanding significantly. The market is becoming more diverse in terms of taste profiles and fashions, drawing in a larger client base and growing in size especially among younger generations who value distinctive and handcrafted goods.
Technological Advancements: In the business, technological advancements in supply chain management and brewing processes are crucial. Modern brewing methods and equipment enable more flavor innovation and consistent quality, and digital marketing and distribution channels are expanding the market and increasing consumer interaction.
Industry Applications: The uses of craft beer in the industry go beyond the typical beverage consumer and include the food and tourist sectors as well as cultural events. They are being served with gourmet dishes more and more, which improves the culinary experience.
Key Market Trends: There is a shift in consumer preferences towards healthier products. The popularity of limited edition and seasonal beers, which frequently come from brewery partnerships, is boosting consumer interaction and market vibrancy.
Geographical Trends: The global craft beer market demand is expanding rapidly in North America and Europe, and the Asia-Pacific area has a lot of promise because of rising disposable incomes and a shift in consumer preferences towards Western goods. Local market dynamics are influenced by the distinct flavor preferences and brewing traditions of each region.
Competitive Landscape: Many small-scale microbreweries and brewpubs characterize the market. The competition is getting more intense as larger breweries are also joining the craft market through acquisitions or the introduction of their own craft-style beers.
Challenges and Opportunities: The craft beer market growth report is confronted with obstacles including strict laws and expensive operations for small-scale brewers. Nonetheless, there exist noteworthy prospects for broadening product portfolios to encompass health-conscious choices and leveraging digital platforms to enhance market penetration and enhance customer interaction. The increasing popularity of beer tourism presents further opportunities for industry growth.

Craft Beer Market Trends:
Increasing consumer preference for artisanal and unique flavors

The craft beer market outlook is expanding due to shifting customer preferences for artisanal and distinctive flavors. It is one of the major craft beer industry trends. This change is a response to the homogenized flavors of mass-produced beers; these beers offer a wide range of flavors and genres, such as IPAs, stouts, and sours, to suit a wide variety of palates. The use of premium and locally obtained ingredients adds to the allure of these beers and speaks to consumers' growing concern about the provenance and quality of the food they eat. When compared to typical beer options, millennials, and Gen Z consumers are especially drawn to this trend since they are eager to try out new and varied flavor profiles and frequently see the product's consumption as a more unique and genuine experience.

Considerable growth in the number of microbreweries and brewpubs

A major craft beer market business opportunity is the considerable growth in the number of brewpubs and microbreweries around the globe. Due to the growth of these small-scale establishments, the beer enthusiast community has become more active and connected. Microbreweries and brewpubs provide a distinctive setting for brewing experiments and innovations. Many areas have supportive government laws that promote small-scale brewing enterprises, contributing to this growth. interact with brewers and the brewing process, which enhances the product's appeal and creates a more comprehensive experience. In addition, the whole experience of visiting these places, where customers can watch the brewing process in action and interact with brewers directly, adds to the product's appeal. This factor is leading to an improvement in the craft beer market statistics.

Rising health consciousness and demand for low-alcohol options

Another key driver of the market is the growing emphasis on health and well-being. Craft brewers have responded to this need with agility, creating a wide range of 'light' beers that offer healthier options without sacrificing flavor depth. The artisanal non-alcoholic beers are also witnessing an increase in demand due to the consumers who care about their health but can't compromise on taste. This shift towards healthier options is driving the market. This attracts consumers who might have otherwise avoided beer consumption due to health concerns. This development has allowed the market to tap into a new consumer base, further fueling its growth in the craft beer industry report.

Craft Beer Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, age group, and distribution channel.

Breakup by Product Type:

Ales
Lagers
Others

Ales accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes ales, lagers, and others. According to the report, ales represented the largest segment.

A sizable section of the market is dominated by ales. They are renowned for their complex and deep flavors. This category features IPAs, stouts, and porters, among other kinds. Each has a unique flavor and aroma. Ales' fermentation process, which takes place at higher temperatures, adds to the depth and diversity of their flavors. The ale market is especially well-liked by beer connoisseurs who value artisanal and distinctive beer experiences and who are looking for complexity and a wide range of flavor experiences. The introduction of barrel-aged and experimental ales attracts a growing segment of the market that appreciates artisanal and unique beer experiences.

Conversely, due to their broad appeal and ease of access, lagers constitute yet another noteworthy market category. Lagers are popular with a wide range of customers. They have a milder and smoother flavor profile than ales due to the lower temperature fermentation procedure. Pilsners and helles are two of the sub-types in this category that come in a variety of flavors to suit a wide range of consumer tastes.

Breakup by Age Group:

21-35 Years Old
40-54 Years Old
55 Years and Above

21-35 years old holds the largest share of the industry

A detailed breakup and analysis of the market based on the age group have also been provided in the report. This includes 21-35, 40-54, and 55 years and above. According to the report, 21-35 years old accounted for the largest market share.

The market's largest section is made up of people aged 21 to 35, who are drawn to flavors that are distinctive and varied. This group, which includes early Gen Zers and the latter half of Millennials, exhibits a significant taste for artisanal and specialty beers. They are more willing to try out new flavors and varieties, such as experimental brews and IPAs. Furthermore, social media and trends have a big impact on this group, which makes them more open to new product releases and marketing initiatives.

However, the 40-54 age group, which makes up a sizable share of the market, is frequently distinguished by more sophisticated and discriminating tastes. This group, which is mostly made up of Gen Xers, flavors quality over quantity and typically has more disposable cash. They will probably enjoy classic, well-made beers, and they will probably be especially interested in real, regional breweries. This market is particularly drawn to well-known craft brands with a solid name and legacy because they frequently appreciate the craftsmanship and background of the brew.

Moreover, the market for those 55 years of age and above is expanding within the sector. Their selections are also heavily influenced by their health, with a preference for lighter, lower-alcohol, and maybe healthier options. This group enjoys beer primarily for its social and communal qualities, and they frequently drink it in places like brewpubs and community events. They may have a penchant for traditional tastes and styles, but this age group is also becoming more open to trying new things.

Breakup by Distribution Channel:

On-Trade
Off-Trade

On-trade represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes on-trade and off-trade According to the report, on-trade represented the largest segment.

The market's largest segment is the on-trade distribution channel, which includes places like brewpubs, restaurants, taverns, and pubs. Customers place high importance on the social component of drinking this type of artisanal beer, which is the reason for its supremacy. Through the on-trade route, customers can sample a range of products, frequently under the guidance of experienced staff members or, in the case of brewpubs, directly from the brewers. They showcase rare or limited-edition beers to satisfy customers' cravings for uncommon and exciting experiences. Customers are drawn in by this engaging experience as well as the social atmosphere of these businesses, especially the younger people.

In contrast, a sizable but lesser portion of the industry is represented by the off-trade distribution channel, which includes retail establishments like supermarkets, liquor stores, and internet platforms. Customers who want the ease of using the product at home or in private settings may find this channel appealing. Furthermore, the increased availability of products in mainstream retail stores and the emergence of e-commerce sites that specialize in beer delivery are driving growth in the off-trade industry. This market includes people who want to buy these type of beers as gifts or who would rather consume them in the comfort of their own homes.

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Europe leads the market, accounting for the largest craft beer market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share.

With a long history of brewing and a strong beer culture, notably in nations like Germany, Belgium, and the UK, Europe has the most market share. The region offers a vast array of varieties, from traditional ales and lagers to experimental brews, and is characterized by a fusion of modern innovation and old brewing processes. Craft beer is a vital component of the gastronomic and cultural experience, which is driving the market in addition to high domestic demand.

The Asia Pacific area is becoming the largest market segment due to factors such as rising urbanization, a burgeoning middle class with good income, and fast economic expansion. This region is known for its youthful population, which is always trying new and different flavors and not sticking to the norm when it comes to drinking beer. Due to an increase in microbreweries and a growing interest in craft beer culture, countries like China, Japan, and Australia are driving market expansion.

The market is well-established and growing in North America, especially in the United States and Canada, though at a steadier and more mature rate. This region is known for its innovative brewing techniques and many craft beer styles. It has a strong culture of microbreweries and brewpubs. The market has high consumer awareness and appreciation for craft beer. There is also a particular emphasis on local and artisanal brews.

The market in Latin America is in a phase of rapid growth. It is driven by increasing economic development and the influence of global beer trends. Countries including Brazil, Mexico, and Argentina are witnessing a rise in the number of craft breweries. They also have a growing consumer base keen on exploring diverse and locally produced beers.

Despite being relatively modest, the Middle East and Africa market has room to grow. Premium and imported craft beers are in high demand in these markets, and consumers' curiosity in trying out new flavors and varieties of beer is only increasing. The Middle East and Africa market is expected to grow gradually, concentrating on specialized customer niches and adopting focused marketing techniques.

Leading Key Players in the Craft Beer Industry:
The craft beer market leaders are imitating strategic concepts and innovations to increase their market share. They are broadening their product offerings by incorporating a variety of flavors and styles in order to meet consumer expectations and offer productive items. Additionally, the major companies are working together with other organizations and brewers to create a distinctive limited-edition beer. They are strongly using media platforms to advertise their products and increase sales in order to expand their market. Furthermore, by guaranteeing sustainability and a healthy environment, the major businesses are producing environmentally friendly items. This positive outlook demonstrates that success in the craft beer business requires quality, experimentation, invention, innovation, consumer friendliness, and sustainability.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Anheuser-Busch InBev SA/NV
Bell's Brewery Inc.
Constellation Brands Inc.
D.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.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:
April 24, 2023: Bell's Brewery Inc. announced expansion into Alaska, Idaho, Oregon, Utah, and Washington, among the other five states.
March 27, 2023: New Belgium Brewing Company Inc. agreed to purchase the Daleville, Virginia-based, 259,000-square-foot brewing plant owned by Constellation Brands.
Dec. 12, 2023: Sierra Nevada Brewing Co. has just released its first-ever line of non-alcoholic brews -- Trail Pass IPA and Trail Pass Golden, hitting shelves across the U.S. this month. To round out the full non-alcoholic portfolio, Sierra Nevada is additionally releasing Hop Splash Citrus, a new line extension to its popular Hop Splash sparkling water.

Key Questions Answered in This Report

1. How big is the craft beer industry?
2. What is the expected growth rate of the global craft beer market during 2024-2032?
3. What are the key factors driving the global craft beer market?
4. What has been the impact of COVID-19 on the global craft beer market?
5. What is the breakup of the global craft beer market based on the product type?
6. What is the breakup of the global craft beer market based on the age group?
7. What is the breakup of the global craft beer market based on the distribution channel?
8. What are the key regions in the global craft beer market?
9. Who are the key players/companies in the global craft beer market?