Craft brewing is a larger term for industry improvements that followed the late-twentieth-century microbrewing craze. Although the definition is not precise, it typically refers to small, independently owned industrial breweries that use traditional brewing procedures and place a focus on flavor and quality. Brew masters may consider craft brewing to be an art form. In the United Kingdom, the Society of Independent Brewers (SIBA) supervises the “Assured Independent British Craft Brewer” program, which ensures that breweries using the Independent Craft Brewer insignia are modest, independent, and produce high-quality beer.
Craft Beer Market Overview:
The Market Research Report has thoroughly examined the current definitions, classifications, applications, and the overall industrial chain structure. This analysis incorporates objective professional assessments of the present market status, historical market performance, production and consumption rates, demand and supply dynamics, and projected revenue generation. Furthermore, the study of the Craft Beer Market also encompasses insights into the strategic objectives and growth plans of major companies operating within the Craft Beer industry. This encompasses activities such as mergers and acquisitions, government and corporate transactions, collaborations, partnerships, joint ventures, brand management, marketing initiatives, and product launches. In summary, this research provides a comprehensive overview of the Craft Beer sector within both global and regional markets.
Craft Beer Market size was valued at US$ 120.15 Bn in 2022 and the total revenue is expected to grow at 10.42 % through 2023 to 2029, reaching nearly US$ 240.48 Bn.
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COVID-19 Impact on Craft Beer market:
The COVID-19 pandemic has had a significant impact on the Craft Beer industry. Production facilities have been halted due to the global economic downturn and a lack of personnel. The COVID-19 epidemic has caused a significant and prolonged fall in production utilization, while travel prohibitions and facility closures have kept employees away from their facilities, causing the Craft Beer market to decelerate in 2020. The negative impact of COVID-19 on the Craft Beer market, on the other hand, is likely to be brief, with the industry rebounding fast by early 2021 due to strong demand for Craft Beer .
Craft Beer Market Drivers:
Consumers’ rising living standards are likely to drive global market expansion. The increasing popularity of e-commerce is driving industry expansion. Various government entities in countries such as China, Australia, and Belgium are pushing national economic development. Craft beer contains less alcohol, and the health benefits of craft beer are driving forces in the global industry.
The several new flavors that have just entered the market are in high demand. Fruit and spice, sour, acidic & funky, and malty flavors are popular among many individuals. Floral aromas such as lavender, elderflower, and chamomile have been included, resulting in a moderate flavor with a silky smoothness.
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Craft Beer Market Segmentation:
by Distribution
On-Trade
Off-Trade
by Type
Ale
Lager
Pilsners
Specialty Beers
Others
by Application
Food Service
Personal Buyer
Bar
Others
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Key Players:
The research provides an in-depth evaluation of the Craft Beer market and its presence in various sectors and regions. The research analyst seeks to unearth latent development potential that enterprises in various locations of the world can leverage by doing a complete geographical assessment of the sector. Global Craft Beer Market research provides exact information that enables market participants to compete successfully in terms of growth, sales, and other vital criteria with their most important competitors. In the research analysis, significant market components such as market drivers and obstacles are distinguished from vital development prospects and industry trends.
1.D.G. Yuengling and Son
2.The Boston Beer Company
3.New Belgium Brewing Company
4.Bell’s Brewery Inc.
5.The Gambrinus Company
6.Sam Adams
7.Sierra Nevada
8.Stone & Wood Brewing Co.
9.The Lagunitas Brewing Company
10.Feral Brewing Co.
11.Molson Coors
12.Heineken
13.Constellation Brands
14.Anheuser-Busch InBe.
15.Karl Strauss
16.Tuatara Breweries
17.BrewdogPlc
18.Guinness & Co.
Regional Analysis:
The analysis also contains important market influencing components and regulatory developments that have an impact on market present and future trends. Some of the important components utilized to examine the market scenario for different areas include new sales, replacement sales, national demography, regulatory activities, and import-export tariffs. Furthermore, while offering forecast analysis of national data, the existence and availability of global brands, as well as the challenges they confront owing to strong or weak competition from local and domestic brands, as well as the impact of sales channels, are analyzed.
Key Questions Answered in the Craft Beer Market Report are:
- What is Craft Beer ?
- What is the expected CAGR of the Craft Beer market during the forecast period?
- Which region held the largest Craft Beer market share in 2022?
- What are the major drivers of the Craft Beer Market?
- What are the Craft Beer Market segments?
- What factors are expected to challenge the market growth during the forecast period?
Key Offerings:
- A detailed market overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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