Specialty Beer Market: Herb and Spice Beers Segment Show Higher Growth Rate

Rockville, USA, 2019-Feb-05 — /EPR Network/ — The global specialty beer market is poised to reflect a value more than US$ 15 Bn by the end of 2022 and is anticipated to grow at a moderate CAGR during the forecasted period of 2017 to 2022.

Specialty beers, made from different fermentables and techniques, are bound to gain acceleration in the coming years. The trend which is supposed to gain traction in the specialty beer market is rising exports of beer from developed regions, such as the Americas to Europe. The growth of the specialty beer market is marked by the increasing demand of specialty beers which is influenced by the penetration of American beers in the European countries, thereby enlarging the beer market in these regions. Moreover, the rising demand for exotic, innovative and rear flavors of specialty beers could be a probable cause for the specialty beer market to grow.

Adding to these aspects, factors such as increased disposable incomes in both developed as well as emerging economies, liking of beer taste, growing popularity of beer as a hangout drink, etc., are set to raise the bar of the specialty beer market, by impacting its growth in a much positive way. Europe region seems to be the most lucrative region for the specialty beer market. Specialty beer imports, in order to cope up with the demand for foreign beer brands in the emerging economies has accelerated the growth of the global specialty beer market. 

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Fruit Beers Show Dominance over Other Specialty Beer Types

The fruit beers segment by product type reflect a higher market share by revenue as of 2017, and are growing at a moderate rate. This type experiences the highest market share of 35.7% and this trend is expected to run the show by the end of 2022. Following fruit beers segment, the herb and spice beers segment is the second highest segment in terms of market share by revenue. Europe region can be considered as a good opportunity yielding region for the fruit beers and herb and spice beers segments.

Herb and Spice Beers Segment Show Higher Growth Rate

The herb and spice segment are not only in second position with respect to market share by revenue, but reflect the highest growth rate as compared to other segments in product type and is anticipated to reflect a CAGR of 4.6% throughout the period of forecast, 2017 to 2022. As far as growth rate is concerned, following the herb and spice beers segment, the wassail segment comes next, but it has a low market share. The herb and spice beers segment is also expected to gain a high BPS by the end of 2022.

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Europe region shows higher market attractiveness in the global specialty beer market. it can be considered as the most lucrative region for this market as it reflects a higher market share by revenue thereby dominating other regions in this market. this trend is expected to grow in the coming years

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Asia-Pacific excluding Japan (APEJ) region shows the highest growth rate and is poised to register a CAGR of 3.9% during the period of forecast. this emerging economy experiences a rise in the demand for specialty beers and its various types which is the main reason for driving the growth of the specialty beer market in this region

The American sour segment by fermenting style is expected to retain its dominance over the other fermenting style segments as it shows a higher market share and this trend is to continue over the period of forecast as it is reinforced by a higher growth rate throughout the period of forecast. The American sour segment is anticipated to register a CAGR of 4.1% during the forecast period.

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The report has also profiled leading players in the global market for specialty beer, which would remain active through 2022. These include companies like Deschutes Brewery, Inc., Diaego Guinness USA Inc., North American Breweries Inc., SweetWater Brewing Company, LLC, Bells brewery Inc., Duvel Moortgat NV, Heineken Holding N.V, Molson Coors Brewing Company, Anheuser-Busch InBev SA/NV, Sierra Nevada Brewing Co., Stone Brewing Co., D.G. Yuengling & Son, Inc., and The Boston Beer Company, Inc.

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