The global beer market was valued at US$ 682.8 Bn by the end of 2020 and expected to reach at a value of US$ 1,034.7 Bn by 2028 with a significant CAGR of 5.3%
Global Beer Market, By Type (Lager, Ale and Stout, Specialty Beer, and Low Alcohol Beer), By Price Category (Mainstream, Discount, Premium, and Super-premium), By Packaging (Glass, PET bottle, Metal Can, and others), By Production (Macro-brewery, Micro-brewery, Craft Brewery, Others), By Ingredients (Malt, Yeast, Enzymes, Hops and others), By Distribution Channel (off-trade and on-trade), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global beer market was valued at US$ 682.8 Bn by the end of 2020 and expected to reach at a value of US$ 1,034.7 Bn by 2028 with a significant CAGR of 5.3%.
Beer is the most well-known and most consumed alcoholic beverage all across the globe, and as a matter of fact, it is also one of the alcoholic beverages from old times. Ever since the inception of civilization, beer brewing and drinking have been part of the regular human affairs. Beer is an alcoholic beverage procured from the fermentation and stewing of cereals. It is regarded as having numerous health benefits when drunk in temperate amounts. Originally, the first beer was generally formed from water, grain, and unstudied and impromptu fermentation due to wild yeast existing in the environment, shortly before bread was discovered.
The origin of modern-age beer was in the course of the initial medieval ages, when German monks initiated hop as a flavouring and bittering agent. Nowadays, often, beer is also added with additional ingredients like fruits and herbs in order to sum up a particular fragrance and flavor to the beverage. Owing to which, beer is further gaining traction among the global markets. On top of that, one of the crucial factors that is boosting the growth in demand of beer across the world is the rapidly rising demographic and economic growth, worldwide, which is further expected to escalate the global beer market briskly in the near future.
In addition to that, the associated health benefits of beer, only if consumed in a moderate amounts, including it carries a massive amount of nutrients, it is good for heart’s health, it makes bones and brain stronger, lowers the risk of diabetes and many more, also positively fuels its demand across the world. Attributing to which, the global beer market is projected to witness substantial growth in the years to come.
Apart from that, the younger consumers, in the present times, are primarily interested and attracted to spend on beer consumption, owing to appearing trends as well as variety in flavors. All such factors further spark off the demand for beer all across the globe, thereby expected to elevate the growth of the global beer market even higher in the coming years.
MMC Study identifies some of the key participating players in the beer market globally are Anheuser-Busch InBev, Beijing Yanjing Brewery, The Boston Beer Company, Inc., Carlsberg Group, Dogfish Head Craft Brewery, Diageo PLC, Heineken N.V., Sierra Nevada Brewing Co., Squatters Pub, and United Breweries Group, among others.
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