Craft Beer Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 - 2025

 Craft Beer Market Overview:

As indicated by the Brewers Association in 2018, overall sale of beer in the United States witnessed a decline by 1% as compared to 2017, whereas craft beer scored voluminous trade and an upsurge in sales by 4%. When it comes to beverages, consumers are always on a quest for variety to slake their thirst. Owing to the ‘what’s new’ trend among beverage consumers, brewers are always focused towards innovations and quality production. A craft beer brewery is a microbrewery that produces lesser quantity of beer (or sometimes root beer), characteristically much lesser than large-scale commercial breweries, and is independently owned and focused towards quality, flavor and brewing technique. Hence with the entire production focused towards quality and novelty as beverages consumers always ready to invest on quality-enhancement, global craft beer market size has gained tremendous momentum in beverages domain and is estimated to be $33.38 billion as of 2018. Supportive trends among millennial such as ‘weekend’ and ‘party-culture’ has enabled the opportunities in the market to be catapulting at a global CAGR of 15.87% during the forecast period 2019-2025.

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Craft Beer Market Outlook:

Craft beer market demand is gaining impetus globally, but North America with the United Sates being the largest importer of beer ($5.14 billion, 2017 OEC) capitalizes its existing beverages consumption trend and market blueprint. This region with majority of its population falling under working class with sufficient disposable income, accounted for a hefty share of 58.40% in global craft beer market size in 2018. As per the Brewers Association, the contribution of craft brewing industry to the U.S. economy in 2017 was $76.2 billion along with more than 500,000 jobs in 2017. With a total of 7450 breweries and impactful presence in all the 50 states, craft brewers are vibrant and flourishing economic force in the United Sates. California, Pennsylvania and Texas are the leading states in craft beer output with $8.2 billion, $6.3 billion, and $5.3 billion respective values.

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In terms of distribution channel, the global craft beer market is segmented into off-trade and on-trade distribution. Analyzing the revenue generated by the type of distribution, on-trade is evaluated to be the fastest growing segment, progressing with a CAGR of 13.82% going through 2025. On-trade refers to business with hotels, bars and restaurants, whereas off-trade means sales to food retailers like supermarkets. Owing to the upsurge in the number of brewpubs with on-site production and sales, on-trade distribution is gaining substantial traction. For instance, in the United Sates the number of brewpubs escalated from 1053 in 2010 to 2594 in 2018 adding on-trade opportunities in the global craft beer market.

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Craft Beer Market Growth Drivers and Trends:

· Government in the countries such as New Zealand, Australia, Belgium, Mexico, China, and the UK are indorsing the production of craft beer and establishment of novel and innovative breweries. It is due to the optimistic influence of craft beer market towards economic development and occupation generation coupled with the enthusiasm of the consumer to pay extra for better tasting brews. Hence, the federal support amalgamated with enthusiastic consumers is a major diver for the expansion of craft beer market share.

· Craft beer festivals are a major trend positively influencing the opportunities in market. Such avenues accolades the key players and provides a platform for novel entrants to showcase their product, offer trial, get instant reviews and market their merchandise to live audience. Some of the upcoming craft beer festivals in 2019 are Carolina Brewfest, Maryland Craft Beer Festival, and Surf ‘n’ Suds Beer Festival Ventura.

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