Global Craft Beer Market to Expand at Impressive CAGR of 7% Through Forecast Period
The global craft beer market - which was valued at US$ 7.6 Bn in 2019 - is set to expand at a brisk pace during the forecast period (2019 to 2029), according to a new market study by XploreMR. The growth of the market is predominantly attributed to the growing number of breweries, bars, and lounges, coupled with increased spending by millennial consumers on alcoholic drinks.
Over the years, the consumption of beer has witnessed a significant upsurge on the back of increasing disposable incomes, thus subsequently propelling the demand for craft beer. Consumption of craft beer accounts for nearly 15% of total beer consumption, and is majorly driven by consumers in North America and Europe, where the demand for premium quality drinks is higher than in other parts of the world.
Capitalizing on the demand among Gen X and Gen Y consumers, manufactures are focusing on offering quality products at affordable prices. Backed by these facets, the global craft beer market will flourish at a CAGR of 7% during the forecast period.
Global Craft Beer Market – Scope of the Report
The craft beer market is envisioned to observe a moderate growth in the forecast period 2019 to 2029, according to the XploreMR study. The study propounds key trends that are currently shaping growth of the craft beer market. This newly published and insightful report throws light on key dynamics, which are expected to transform future of the craft beer market, in turn creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of craft beer.
The craft beer market study is a sinuous market intelligence on key revenue growth drivers, challenges, industry trends, and opportunities, which will eventually influence growth trajectory of the craft beer market. The report initially imparts an overview of the craft beer market, considering current and future prospects in the growth, to unveil attractive facets appertaining to adoption of craft beer across key regional markets.
An in-depth assessment on few of the craft beer manufacturers offered in the report enables the report readers to gain detailed insights that are derived from the craft beer manufacturers across the regional markets incorporated in the report. A list of key companies operating in the craft beer market provided in the report adds to the credibility of this exhaustive research study.
Craft Beer Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029Buy Now
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