Craft Beer Market to Reach USD 240.48 Bn by 2029, emerging at a CAGR of 10.42 percent and forecast 2023-2029
Craft brewing is a larger term for industry improvements that followed the late-twentieth-century microbrewing craze. Although the definition is not precise, it typically refers to small, independently owned industrial breweries that use traditional brewing procedures and place a focus on flavor and quality. Brew masters may consider craft brewing to be an art form. In the United Kingdom, the Society of Independent Brewers (SIBA) supervises the "Assured Independent British Craft Brewer" program, which ensures that breweries using the Independent Craft Brewer insignia are modest, independent, and produce high-quality beer.
Craft Beer Market Overview:
Maximize Market Research (MMR) has released an extensive report concerning the Craft Beer Market. This report offers a comprehensive analysis of the Craft Beer Market, drawing from both primary and secondary data sources. It delivers a thorough examination of market size and segment-specific market share in various regions, making it a valuable resource for potential investors.
Craft Beer Market size was valued at US$ 120.15 Bn in 2022 and the total revenue is expected to grow at 10.42 % through 2023 to 2029, reaching nearly US$ 240.48 Bn.
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Craft Beer Market Report Scope and Research Methodology:
The study provides in-depth analysis of the Craft Beer market at the global, regional, and country levels. It examines the competitive landscape in the Craft Beer industry in depth, focusing into the strategic methods used by prominent competitors. The study includes a list of Craft Beer important rivals, together with information on their revenue, production capacity, sales figures, and global footprint. A SWOT analysis was used to identify the strengths and weaknesses of these significant companies in the Craft Beer business.
The study provides in-depth insights into the Craft Beer market's dynamics, including drivers, limitations, opportunities, and challenges. A bottom-up approach was used to estimate market sizes at the global and regional levels. Data on market size, market share, geographical insights, market dynamics, key players' performance, and historical industry data were gathered using both primary and secondary research approaches. The report also includes a full value chain analysis, which explains the Craft Beer manufacturing process in detail, highlighting elements such as raw materials, customers, and distribution networks.
Furthermore, the research includes PORTER analysis, PESTLE analysis, and a market attractiveness evaluation. These tools provide a thorough overview of the Craft Beer market, providing insights at both the macro and micro levels.
Craft Beer Market Drivers:
The several new flavors that have just entered the market are in high demand. Fruit and spice, sour, acidic & funky, and malty flavors are popular among many individuals. Floral aromas such as lavender, elderflower, and chamomile have been included, resulting in a moderate flavor with a silky smoothness. The industry is expanding as a result of technological developments and research into new ingredients. Small and independent brewers in the United States produced around 26.3 million barrels of beer in 2022, according to the United States Brewers Organization.
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Craft Beer Market Segmentation:
by Distribution
On-Trade
Off-Trade
by Type
Ale
Lager
Pilsners
Specialty Beers
Others
by Application
Food Service
Personal Buyer
Bar
Others
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Key Players:
1.D.G. Yuengling and Son
2.The Boston Beer Company
3.New Belgium Brewing Company
4.Bell's Brewery Inc.
5.The Gambrinus Company
6.Sam Adams
7.Sierra Nevada
8.Stone & Wood Brewing Co.
9.The Lagunitas Brewing Company
10.Feral Brewing Co.
11.Molson Coors
12.Heineken
13.Constellation Brands
14.Anheuser-Busch InBe.
15.Karl Strauss
16.Tuatara Breweries
17.BrewdogPlc
18.Guinness & Co.
Regional Analysis:
- North America (including the United States, Canada, and Mexico)
- European Union (encompassing Germany, France, the United Kingdom, Russia, Italy, and the Rest of Europe)
- Asia-Pacific region (including China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (covering Brazil, Argentina, Colombia, and the Rest of South America)
- Africa and the Middle East (spanning Saudi Arabia, UAE, Egypt, South Africa, and the Rest of the Middle East & Africa)
The study provides comprehensive insights into various development opportunities and challenges in these regions, taking into account different product types, applications, end-users, and countries, among other factors. Additionally, the study encompasses crucial aspects of the Craft Beer market, including sales growth, product pricing and analysis, growth potential, and recommendations for addressing market challenges in these specified areas.
Key Questions Answered in the Craft Beer Market Report are:
- What is Craft Beer ?
- What is the expected CAGR of the Craft Beer market during the forecast period?
- Which region held the largest Craft Beer market share in 2022?
- What are the major drivers of the Craft Beer Market?
- What are the Craft Beer Market segments?
- What factors are expected to challenge the market growth during the forecast period?
Key Offerings:
- A detailed market overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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