Global Craft Beer Market, By Type, By By Distribution Channel & By Region- Forecast and Analysis 2022-2028

The Global Craft Beer Market is valued at USD 96.23 Billion in 2021, and it is anticipated to attain a value of USD 191.13 Billion by 2028, at a CAGR of 10.3%over the prediction period (2022 - 2028).

Beer is one of the most common and primitive beverages. It is an important part of many cultures and has a variety of health benefits when consumed in moderation. It is still one of the most popular drinks, particularly among young drinkers. Beer is the most widely consumed and exported alcoholic beverage in the region. Beer's diverse flavors and formulations have made it a popular trend among millennials and Generation Z. Innovative methods of infusing various flavors into beer have shifted consumer preferences, and the craft beer market is expected to grow.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Craft Beer Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. 

Segments covered in this report

The Global Craft Beer Market is segmented based on Type, Distribution Channel and Region. Based on Type it is categorized into: Large, Ale, and Others. Based on Distribution Channel it is categorized into Off-Trade and On-Trade. Based on the region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The trend toward urban living and modern habits has led to an increase in alcohol consumption among millennials. 33% of beer drinkers experiment with new beers on a regular basis. The increased desire to socialize, as well as the hectic and busy schedule, has paved the way for several breweries to meet the rising demand. In the United States, there are approximately 9,811 craft breweries. The number of new breweries opening is expected to increase market share.

Restraint

The presence of alternative alcoholic beverages such as gin, whiskey, and rum as opposed to craft beers is expected to be a deterrent. Several drinkers are enticed to try new crafted drinks and are drawn to grapefruit, plum, and other fruit flavors.

Market Trends

Due to increased market demand, the increasing number of craft beer breweries has inclined breweries to use innovative methods to entice consumers. Cannabidiol is an innovative component that is infused in breweries. People prefer CBD-infused products because they taste better and have fewer calories. CBD is derived from the cannabis plant and is the non-psychoactive component of it.