by Beer is one of the most popular alcoholic beverages consumed worldwide. It is produced by the saccharification of starch and fermentation of the resulting sugar. The key types of beer include lager, ale, stout, and others. Beer offers several health benefits such as reducing the risk of heart disease and type 2 diabetes. It is widely consumed during social gatherings, parties, and sports events. The rising young population and increasing socializing activities are driving the demand for beer globally.
The Global Beer Market is estimated to be valued at US$ 1.24 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the beer market include B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., Ortho Regenerative Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED, and Smith+Nephew, CONMED Corporation. These players are focusing on new product launches and expansions to strengthen their market position.
The Beer Market Size is experiencing significant growth due to the rising socializing culture among millennials and Generation Z, providing opportunities for beer manufacturers to launch new flavors and varieties are investing in campaigns targeting these demographics.
The increasing globalization and changing consumer preferences are also driving beer companies to expand their footprint across international markets. Many regional players are entering into strategic partnerships with global giants for overseas distribution.
Market Drivers
The key driver fueling the beer market growth is the rising young population and their increasing spending power globally. As per estimates, over 60% of the world’s population falls in the age group of 15 to 35 years. This demographic widely consumes beer during social gatherings and parties. Their high disposable incomes allow premium product exploration.
PEST Analysis
Political: The beer market is regulated by government policies on alcohol production, distribution and sales. Changes in legal drinking age and taxation policies impact the market.
Economic: Macroeconomic factors such as GDP growth, disposable income levels and unemployment rates determine consumer spending on beer. Lower economic growth prospects in key markets may slow down market expansion.
Social: Changing social attitudes influence consumption patterns and demand. Health awareness and lifestyle trends drive preferences for low- or no- alcohol beers.
Technological: Advancements in brewing technologies help producers improve efficiency, expand capacity and introduce innovative beer varieties. Automation solutions reduce production costs. Improved transportation and storage solutions aid supply chain management.
The value concentration of the global beer market is currently highest in Asia Pacific region due to large consumer bases in China and India. North America is the second largest value share region due to high beer consumption in United States.
The fastest growing geographical region for the global beer market between 2024-2030 will be Asia Pacific due to rising incomes, expansion of urban middle class and shifting social trends in developing countries like China, India and Southeast Asia. Growing preference for premium and craft beers will support market demand growth in Asia Pacific region during the forecast period.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
