The global beer market size is projected to reach USD962.39billion by the end of 2026. The demand for low-alcoholic beverages hasemerged in favor of the companies operating in the market. According to areport published by Fortune Business Insights, titled “Beer Market Size, Share and Industry Analysis, By Type (Lager, Ale,Stouts, and Others), Packaging (Glass Bottle and Metal Can), and DistributionChannel (On-trade and Off-trade), and Regional Forecast, 2019 2026,” themarket was worth USD 693.39 billion in 2018 and will exhibit a CAGR of 4.22%during the forecast period, 2019-2026.
Beer is one of the most popular alcoholicbeverages that is consumed on large scale in almost all parts of the world. Dueto the increasing demand for flavored and craft beer, several companies arelooking to invest in breweries, with a bid to establishing a stronghold in themarket. The presence of several large scale companies has contributed to thegrowth of the global market in recent years. The consumption of beer at publicevents and social gatherings has created several growth opportunities for thecompanies operating in the market. The introduction of flavored beers by majorcompanies will have a positive impact on the growth of the market in the comingyears.
The beer market is segmented on the basis offactors such as type, packaging, distribution channel, and regionaldemographics. The report provides forecast values for the market for the periodof 2019-2026. The factual figures have been obtained through trusted sources.Moreover, these predictions are made on the basis of extensive researchanalysis methods, coupled with the opinions of experienced market researchprofessionals. The report highlights the latest product launches and labels majorinnovations in the market. In addition to this, it states the impact of theseproducts on the growth of the market. The competitive landscape has beendiscussed in detail and predictions are made with respect to leading companiesand products in the coming years.
Increasing Number ofProduct Launches by Major Companies to Aid Growth
The report encompasses several factors that havecontributed to the growth of the market in recent years. Accounting to themassive demand for beer across the world, several companies are looking tocapitalize on this by introducing innovative and flavored beers. Theintroduction of new beers will cater to the increasing consumer demand forvariations. In June 2018, United Breweries Group announced the launch of a newbeer in the Indian market. The company introduced ‘Kingfisher Pale Ale,’ a newale beer, introduced to cater to the growing demand for ale beers across India.United’s latest product will not only benefit the company, but will have apositive impact on the growth of the market in the foreseeable future.
North America to Hold theHighest Market Share; Presence of Several Large Scale Companies to Aid Growth
The report analyzes the ongoing beer markettrends across North America, Latin America, Europe, Asia Pacific, and theMiddle East and Africa. Among these regions, the market in North Americacurrently holds the highest beer market share. This is attributable to thegrowing demand and subsequently high production of beer in several countriesacross the region. As of 2018, the market in North America was worth USDbillion and this value is projected to increase further in the coming years.Besides North America, the market in Asia Pacific will witness considerablegrowth in the coming years driven by the increasing demand for the product inemerging countries such as India.
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