Beer Market: Philippines Are Expected To Drive Demand During The Forecast Period
Beer Industry Overview
The global beer market size was valued at USD 680.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. Beer consumption patterns have shifted dramatically, with declining consumption in traditional drinking countries and high gains in emerging markets and places where wine and spirits were traditionally consumed. These changes have resulted in the convergence of global alcoholic beverage consumption habits and a rapid rise in beer sales.
Global brewing companies are engaging in mergers & acquisitions to drive market expansion. Consumers’ lifestyles, notably drinking habits, have changed as a result of the COVID-19 pandemic. Government tactics to control the virus's spread largely succeeded in keeping people home. The lockdowns negatively impacted alcohol sales at bars, pubs, restaurants, and nightclubs. However, at-home alcohol consumption grew, and sales in retail and online stores increased significantly.
Gather more insights about the market drivers, restrains and growth of the Global Beer market
Flavors play a significant role in shaping consumption trends. Consumers today are significantly more flexible and open to experimenting. Beer is a generational product category, which means every generation associates it with different flavors and occasions. This knowledge of consumer preferences has aided brands in forging strong bonds with their customers. Taprooms are becoming increasingly popular as they allow customers to try new flavors and provide their inputs, which helps to crowd-source beer innovations.
Furthermore, increased expenditure on ads and marketing is expected to further accelerate the growth of the global market. According iSpot.tv, the ten largest beer brands in the U.S. have spent nearly USD 525.8 million on TV ads in 2021. This was a monumental 49% increase from 2020 spending which stood at USD 352.4 million. For instance, Modelo was the highest spender in the list, incurring a cost of more than USD 67.9 million on ads in 2021- almost USD 30 million more year than in 2020.
The industry is seeing an enormous surge in demand for craft beer. Young drinkers prefer craft beer as it offers a variety of styles and taste profiles. Artisanal beer is becoming increasingly popular. Craft breweries are known for their frequent experimentations with different ingredients to give a distinct flavor. For example, Miami Brewing Company makes unique brews with exotic tropical fruits found in South Florida and the Redlands.
Increased beverage consumption has sparked fierce competition among beer brands, leading to the creation of new flavors and increased consumption. Craft beers are gaining popularity because they offer a variety of flavors in addition to those given by macro breweries. Craft beers with unique ingredients and innovative flavors that combine salty, fruity, and tart flavors are gaining popularity among millennials throughout the world. Some of the larger brewers are also taking action in response to shifting customer needs.
Browse through Grand View Research's Alcohol & Tobacco Industry Research Reports.
- Heated Tobacco Products Market - The global heated tobacco products market size to be valued at USD 77.61 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 52.56% during the forecast period.
- Smoking Accessories Market - The global smoking accessories market size was valued at USD 64.4 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030.
Beer Market Segmentation
Grand View Research has segmented the beer market based on product, packaging, production, distribution channel, and region.
Beer Product Outlook (Revenue, USD Billion, 2017 - 2030)
- Lager
- Ale
- Stout
- Others
Beer Packaging Outlook (Revenue, USD Billion, 2017 - 2030)
- Bottles
- Cans
- Others
Beer Production Outlook (Revenue, USD Billion, 2017 - 2030)
- Macro brewery
- Micro brewery
- Craft brewery
Beer Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)
- On-trade
- Off-trade
Beer Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- November 2021: Heinekin entered into an acquisition agreement with Distell Group Holdings Limited, Namibia Breweries Limited, and Ohlthaver & List Group of Companies to integrate their respective and relevant businesses in Southern Africa into one enlarged company
- November 2021: Anheuser-Busch InBev’s London brewery, Camden Town, launched the latest in a line of annual cask-aged beer releases, the Camden Town Beer 2021. The beer is compared to a dessert wine and is designed to be paired with cheese.
Key Companies profiled:
Some prominent players in the global beer market include: -
- Anheuser-Busch InBev
- Heineken
- Carlsberg Breweries A/S
- Molson Coors Beverage Company
- Asahi Group Holdings, Ltd.
- Diageo
- Sierra Nevada Brewing Co.
- United Breweries Ltd.
- Oettinger Brauerei
- China Resources Beer (Holdings) Company Limited
Order a free sample PDF of the Beer Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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