Global Beer Market to Reach US$ 797.6 Billion by 2032, Propelled by Escalating Demand for Diverse Alcoholic Beverages

According to the latest report by IMARC Group, titled “Beer Market Report by Product Type (Standard Lager, Premium Lager, Specialty Beer, and Others), Packaging (Glass, PET Bottle, Metal Can, and Others), Production (Macro-Brewery, Micro-Brewery, and Others), Alcohol Content (High, Low, Alcohol Free), Flavor (Flavored, Unflavored), Distribution Channel (Supermarkets and Hypermarkets, On-Trades, Specialty Stores, Convenience Stores, and Others), and Region 2024-2032”, the global beer market size reached US$ 673.9 Billion in 2023. Beer refers to a fermented alcoholic beverage produced from malted grain, water, sugar, yeast and hops, that is considered as one of the most widely consumed alcoholic beverages on the global level. It is characterized by a distinctive bitter flavor and a golden to golden-brown color. The beer production process involves four major steps, including the extraction of raw materials with water, boiling with hops, fermentation of strarches, and conditioning. Beer starches are primarily derived from cereal grains, such as malted barley, wheat, corn, rice, and oats, and are brewed with hops in breweries, which act as a natural preservative and stabilizer while imparting bitterness to the beverage. During the brewing process, fermentation of the starch sugars in the wort produces ethanol and carbonation in the resulting beer.

Global Beer Market Trends:

The global market is majorly driven by the escalating demand for diverse alcoholic beverages among the masses. This can be attributed to the rapid westernization resulting in the emerging trend of socialization occasions, especially among the young population. In line with this, a considerable rise in the number of breweries and beer processing facilities is providing an impetus to the market. Moreover, the rapid product utilization as an ingredient for cocktails in distilleries, along with continual technological advancements in the beer manufacturing processes, is creating lucrative growth opportunities in the market. Besides this, numerous marketing strategies adopted by the major market players, such as the introduction of cost-effective packages, several new flavor variants, and widespread promotional activities involving celebrity endorsements, are fueling the market. The market is further fueled by the easy product availability via online and offline organized distribution channels, thus resulting in higher product sales. Some of the other factors contributing to the market include inflating disposable income levels of the consumers, increasing number of alcohol consuming consumers, and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 797.6 Billion by 2032, exhibiting a CAGR of 1.8% during 2024-2032

Market Summary:

• Based on the product type, the market has been segmented into standard lager, premium lager, specialty beer, and others, wherein standard lager exhibits a clear dominance in the market.
• On the basis of the packaging, the market has been divided into glass, PET bottle, metal can, and others. Among these, glass represents the leading market segment.
• Based on the production, the market has been categorized into macro-brewery, micro-brewery, and others. At present, macro-brewery accounts for the majority of the total market share.
• On the basis of the alcohol content, the market has been classified into high, low, and alcohol free, wherein high alcohol content holds the leading share.
• Based on the flavor, the market has been segmented into flavored and unflavored. Among these, flavored beer dominates the market.
• On the basis of the distribution channel, the market has been classified into supermarkets and hypermarkets, on-trades, specialty stores, convenience stores and other. Presently, supermarkets and hypermarkets represent the largest market segment.
• On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. Currently, Asia Pacific holds the leading position in the market.
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Asahi Group Holdings, Ltd., ANHEUSER-BUSCH INBEV SA/NV, Beijing Yanjing Beer Group Corporation, Carlsberg Group, Diageo plc, Dogfish Head Craft Brewery Inc., HEINEKEN N.V., Sierra Nevada Brewing Co., Grupo Modelo, United Breweries Limited (UBL), Oettinger Brauerei GmbH, Kirin Holdings Company Limited, Molson Coors Beverage Company, and Tetra Laval Group.

Report Scope:

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