The strong end-user preference for beer has sharply risen in the past few years, thereby making the beer market incredibly lucrative. Market reports associated with the food, beverage and nutrition industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The beer is projected to witness a steady growth rate in the upcoming forecast period.
The free market structure and less structural rigidities have beneficially altered the market landscape, enabling better market growth. The market is also positively impacted by the high rates of demographic and economic development. Increased purchasing behaviors towards beer will increase the entry of new players in the market over the forecast period which will be beneficial to the overall market expansion.
The foremost contenders in the beer market are Bison Brewing Co. (U.S.), Asher Brewing Co. (U.S.), Eel River Brewing Co. (U.S.), Butte Creek Brewing Co. (U.S.), Laurelwood Public House and Brewery (U.S.), Hopworks Urban Brewery (U.S.), and Pisgah Brewing Co. (U.S.)
The beer market is segmented into ingredients, type, and packaging. On the basis of type, the beer market is segmented into stouts & porters, lager, ale, and others. The lager beer segment controls the chief market portion. Though, due to increasing demand for innovative beer, ale beer type is expected to develop at a high CAGR. On the basis of ingredients, the market is segmented into yeast, malt, hops, enzymes, and others. In this segment, the hops segment is controlling the market trailed by malt owing to the elevated use of these ingredients in beer manufacturing. On the basis of packaging, the market is segmented into bottle, can, and draught. In this segment, beer packaged in a can is controlling the market, as metal cans are easy to transport and store. Though, the draught segment is expected to develop due to fluctuating consumer preference towards draught beer.
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The beer market is segmented into regions such as North America, Asia Pacific, Europe, and Rest of the World (RoW). The North American region is anticipated to hold its control throughout the forecast period and will develop at a steady rate. The Asia Pacific region will be the swiftest growing region in the beer market and will expand at an exponential rate and high growth in developing economies such as India, China, Japan and ASEAN countries. The Latin American nations offer sufficient opportunities for development to major players. The high intake of alcoholic beverages in growing economies such as the Asia Pacific and Latin America and increasing demand for beer particularly in China and India will back the market development throughout the forecast period.
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