Beyond Popular Holiday Destinations, Well-travelled Individuals seeking Local Tastes spurs Demand for Craft Beers

Rising interest of individuals for traditionally brewed beers is resulting in robust growth of craft beer market. This, along with rising disposable incomes, upsurge in global travel, and expanding distribution channels are catalyzing the demand for craft beers.

Expanding global travel is resulting in introduction to local products and tastes that are commonly not available. Food preparations and recipes of local drinks are gathering steam as individuals look for local tastes while traveling to interior places of parts of the world. Craft beer is one such product local to parts of Ireland, Nordics, and parts of Europe.

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Product Exclusivity renders High Price Factor Invalid

Economic growth in developing countries is a key factor behind growth of craft beer market. Well-travelled individuals in developing countries now look for remote places in parts of the world for a holiday. This class of individuals have a fancy for local crafts and local foods, and are drawn for experiences not found in popular holiday destinations. Serving this class of individuals, the demand for craft beer is witnessing stimulation.

On the downside, high cost of manufacturing and exclusivity of the product are some restraints to the growth of craft beer market. Mostly brewed in micro-breweries to cater to local or regional demand, craft beer industry remains one of the small arms of the overall beer market. This limits growth of craft beer market.

Nonetheless, exclusivity of the product mostly done with traditional recipes accounts for continued growth of craft beer market.

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The vendor landscape of the craft beer market is largely consolidated. The presence of a handful of dominant players features relatively high degree of consolidation in the craft beer market. Omer Vander Ghinste, Stone & Wood Brewing Co., Sierra Nevada Brewing Co., Chimay Beers and Cheeses, The Gambrinus Company, Vagabund, New Belgium Brewing Company, D.G. Yuengling and Son, The Boston Beer Company, Deschutes Brewery, Feral Brewing Co., Bell’s Brewery Inc., and Lagunitas Brewing Company are key players in the craft beer market.

Acceptance of Beer as Social Drink to Drive Craft Beer Market

San Francisco, California, November 13, 2017: Craft Beer Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025 is the latest report added in the vast report repository of the TMR Research which talks about the global landscape of the craft beer market for the given forecast period of 2017 to 2025. The study report maps the global market for craft beer in terms of the latest trends that are currently prevailing in the market, driving and restraining factors of the global market, and the possible opportunities that may arise in the market over the course of the given forecast period. The study report also provide an in-depth evaluation of the current dynamics of the global market for craft beer and talks about the overall competitive landscape of the market. The research report is the result of the data gathered through comprehensive assessment of the market and the information collected from the experts in the industry. The study report also provides crucial information on the prominent players that are presently plying their trade in the global market for craft beer. The report also cover the overall prospects of growth of the global market during the course of the mentioned forecast period of 2017 to 2025.

Craft beer indicated to the beer that is conventionally manufactured. Being a part of the microbrewery sector, craft beer forma a comparatively smaller segment of the overall global beer market. High cost of production and exclusivity of the product is the reason behind its high prices. Expensiveness, coupled with the fact that the majority of the micro-breweries have little global recognition thanks to the smaller scale of the industry, has made the craft beer sector as one of the more specialized and small segment of the global beer market, but one that holds a considerable share overall.

The increasing demand for craft beer and the rising consumption across the established economies are the chief factors for driving the growth of the global craft beer market over the course of the given forecast period. In addition to this, the increasing demand for flavored drinks across the world are expected to augment the growth of the global craft beer market during the aforementioned forecast period of 2017 to 2025. The general acceptance of beer as a social beverage is expected to be another important factor responsible for driving the overall growth of the global craft beer market in the near future.

The market for craft beer, however, witnessed a sluggish growth in some of the most established market in the recent years. For instance, in the U.S., the biggest market for beers, consumption as well as production volumes have steadily reduced in the last few years. In other important market such as Germany, France, and the U.K. also, the consumption and production volumes of the craft beer have continued to tumble over the last few years. A number of reasons, including the increasing popularity of substitute beverages such as wine, cider, and other healthy drinks, growing strict regulations on drinking, and financial slowdowns are expected to slow down the progress of craft beer market in these regions.

The global market for craft beer can be segmented into key regions such as Latin America, Asia Pacific, North America, Middle East and Africa, and Europe. Of these regions, the Asia Pacific market is expected to lead the market over the next few years owing to a considerable contribution from Japan, New Zealand, and Australia.

Some of the key players in the global craft beer market include names such as Omer Vander Ghinste D.G., Chimay Beers and Chesses, The Boston Beer Company, and New Belgium Brewing Company among others.

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