Craft Beer Market Share, Size, Price Trends, Demand, Revenue, Report 2024-2032

According to IMARC Group latest report titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on craft beer market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

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 increasing demand for low-alcohol beverages, the rising health consciousness among consumers, and the inflating disposable incomes are key factors driving the market.

Request to Get the Sample Report: https://www.imarcgroup.com/craft-beer-market/requestsample

Factors Affecting the Growth of the Craft Beer Industry:

• Consumer Preference Shift:

A primary driver for the craft beer market's growth is the significant shift in consumer preferences. Modern consumers, especially millennials and Gen Z, are increasingly seeking unique, high-quality, and diverse flavor experiences in their alcoholic beverages. Craft beers, known for their variety, artisanal quality, and innovative flavors, cater to this demand. These beers often feature local ingredients and traditional brewing methods, appealing to consumers who prioritize authenticity and local production. This shift is not just a trend but a sustained change in consumer behavior, indicating a long-term growth trajectory for the craft beer market.

• Rise of Microbreweries and Brewpubs:

The rise in the number of microbreweries and brewpubs has been a crucial factor driving the craft beer market. These establishments offer a diverse range of craft beers, often brewed on-site, which attracts consumers looking for a unique drinking experience. Microbreweries and brewpubs have become popular social spots, creating a culture around craft beer consumption. Their emphasis on community engagement, events, and local sourcing further strengthens their appeal. This growth is supported by changing regulations in many regions, which have become more favorable towards small-scale breweries, encouraging new entrants, and expanding the market.

• Increased Health Consciousness:

The growing health consciousness among consumers worldwide has surprisingly benefited the craft beer market. Many craft beers are perceived as being more natural and less processed compared to mass-produced beers. They often contain fewer additives and are sometimes made with organic ingredients, aligning with the health and wellness trends. Additionally, the availability of craft beers with lower alcohol content, caters to health-conscious consumers seeking to enjoy beer with reduced alcohol-related risks. This health-conscious angle provides a unique selling point for craft beers in a market where consumers are increasingly mindful of their dietary choices.

Explore Full Report with Table of Contents: https://www.imarcgroup.com/craft-beer-market

Craft Beer Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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

By Product Type:

• Ales
• Lagers
• Others

Lagers represented the largest segment by product type in the craft beer market due to their widespread popularity and appeal to a broad range of consumers with their generally milder and more approachable flavor profiles.

By Age Group:

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

The 21-35 years old age group represented the largest segment in the craft beer market, likely because this demographic tends to be more adventurous and open to trying new and varied beer styles, often driving trends in the craft beer scene.

By Distribution Channel:

• On-Trade
• Off-Trade

On-trade distribution, which includes venues, including pubs, bars, and restaurants, represented the largest segment in the craft beer market, primarily because these settings offer consumers the opportunity to experience a wide variety of craft beers in a social, engaging environment.

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Europe emerged as the largest market in the craft beer industry, largely due to its long-standing beer culture, a strong preference for premium and varied beer styles, and the presence of numerous established and emerging craft breweries across the region.

Craft Beer Market Trends:

Consumers are increasingly aware of and concerned about environmental issues and are making purchasing decisions that align with their values. Craft breweries often prioritize sustainability through practices, such as sourcing ingredients locally, minimizing water usage, and implementing recycling programs. Furthermore, advancements in brewing technology have significantly impacted the craft beer industry. Modern brewing equipment, which is more accessible and cost-effective, has enabled even small-scale brewers to produce high-quality beer with consistent taste and quality. Innovations in fermentation techniques, flavor extraction, and preservation have allowed craft brewers to create more diverse and complex beer profiles.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Browse Related Reports of IMARC Group:

Japan Craft Beer Market: https://www.imarcgroup.com/japan-craft-beer-market

Europe Craft Beer Market: https://www.imarcgroup.com/europe-craft-beer-market

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

Americas:- +1 631 791 1145 | Africa and Europe:- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800