Bocks to Remain Fastest-Selling Product in Global Craft Beer Market

Rockville, USA, 2019-Feb-05 — /EPR Network/ — The global market for craft beer is highly fragmented in nature, with higher presence of a number of local microbreweries, and regional craft breweries, especially across developed regions such as Europe. Craft beer industry is one of the oldest industry around the world. Major craft beer establishments are independently-owned, as they fall under small-scale industry sector. Craft beer has been witnessed to acquire higher consumer attraction, being a traditionally-produced drink, which is why consumers are willing to spend more money for craft beer.

Governments in Mexico, China, the U.K, New Zealand, Belgium, and Australia, among others, have been promoting the production of craft beer, incorporating new breweries. This initiative is further expected to contribute to the beverage industry’s economic development and employment generation. The global craft beer market comprises several small-sized players, with expansion and consolidation activities increasing among some large brewers in the market.

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The global craft beer market will register a moderate CAGR over the forecast period (2017-2022). Revenues from the market are expected to reach nearly US$ 20,000 Mn by 2022-end. Sales of craft beer has been predicted to showcase a stagnant expansion, however demand from people is anticipated to witness a significant rise in the next couple of years. Vendors of craft beer have been concentrating on differentiation of their products & services, with unique as well as clear value propositions. The aforementioned factors might influence growth of the market during the forecast period.

 

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Bocks to Remain Fastest-Selling Product in Global Craft Beer Market

Bocks will continue to be the fastest-selling craft beer among products in the market. Brown ales are expected to be the most lucrative product in the market, with sales estimated to surpass US$ 4,000 Mn in revenues by 2022-end. Sales of pale ales are anticipated to register a comparatively higher CAGR than sales of brown ales, and a relatively lower CAGR than sales of bocks through 2022.

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Europe is estimated to remain the most lucrative market for craft beer over the forecast period. The market growth in Europe is primarily attributed to successful penetration of the American craft beer to European markets. Demand for innovative, rare, and exotic flavors of craft beer has witnessed a rise, as craft beer in this region is capable of competing with all the other available alcoholic products. Sales of craft beer in Asia-Pacific excluding Japan (APEJ) are poised to exhibit the highest CAGR through 2022.

 

 

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Competition Tracking

Key market players profiled in Fact.MR’s report include The Boston Beer Company, Inc., D.G. Yuengling & Son, Inc., Stone Brewing Co., Sierra Nevada Brewing Co., Anheuser-Busch InBev SA/NV, Heineken Holding N.V., Duvel Moortgat NV, Bells brewery Inc., SweetWater Brewing Company, LLC, and North American Breweries Inc.

 

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