The global alcoholic beer market size is expected to reach USD 997.83 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 9.7% from 2021 to 2028. Rapid urbanization, changing lifestyle, increasing consumption rate of alcoholic drinks, and rise in disposable income are some of the major factors fueling the market growth.
The introduction of flavored alcoholic beers by manufacturing companies further propels the market growth. The high popularity of alcoholic beer among the younger population is also one of the prominent factors behind the market growth. Developed economies have a high consumption rate of alcoholic beer, hence they are the major contributors to the market growth. In addition, the rising popularity of beer in developing economies will open new growth opportunities for the manufacturers, further strengthening the market growth in the near future.
Alcoholic beer is a great source of vitamins, minerals, and antioxidants with various health benefits. Moderate beer consumption has multiple health benefits, such as reducing the risk of cardiovascular diseases and controlling blood cholesterol levels. Owing to these health benefits, alcoholic beer is gaining popularity across the globe. Developed economies have a high consumption rate of alcoholic beer and hence, are the major contributors to the market growth.
The expansion of new breweries across the globe offering beers with unique flavors is responsible for attracting a large consumer base and providing opportunities to try different flavored beer to the consumers. In addition, the rising popularity of beer in developing economies will open new growth opportunities for the manufacturers, further strengthening the market growth in the near future.
The coronavirus pandemic has positively and negatively impacted many industries and sectors. Imposition of countrywide lockdowns around the globe forced to close down the restaurants, pubs, bars, and many places where alcoholic drinks were consumed. Consumers preferred to stay at home and enjoy drinking at home, which resulted in a grown number of home drinkers and increased demand for alcoholic beer through home delivery services. However, as things get normal, it is expected that the reopening of restaurants, pubs, and bars will further boost the demand for alcoholic beers in the near future.
The premium beer category segment is expected to expand at the fastest CAGR of 10.2% from 2021 to 2028. Premium beers are made from the best ingredients by the finest craftsmen. They are not brewed on a large scale but are aimed at a small section of the market. Premium beer witnesses a rising demand in the global market from millennials and consumers who seek richer tastes and flavors of the beer.
The bottled packaging type segment held the second-largest share in 2020. Bottled beer can keep the beer fresh and chilled for a longer period than canned beer and is responsible for holding the flavor of the beer. Due to this reason, a large number of consumers prefer to have beer from the bottle only, thereby leading to increased demand for bottled beer in the global market.
The off-trade distribution channel segment dominated the market with more than 50.0% share in 2020. A large number of consumers prefer to drink alcoholic beverages at home and prefer to buy these drinks through offline channels, like supermarkets, retail stores, and specialty stores. Increased consumer demand for alcoholic beer through these channels will drive the off-trade segment.
North America held the largest revenue share of over 30.0% in 2020. The presence of major brands, the growing number of beer-consuming individuals, and the rapid expansion of new breweries are responsible for the market growth. According to the Brewers Association, the United States had 4,847 breweries in 2015 and the number raised to 8,884 in 2020.
The report “Alcoholic Beer Market Size, Share & Trends Analysis Report By Category (Premium Beer, Normal Beer), By Packaging Type (Canned, Bottled), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global alcoholic beer market on the basis of category, packaging type, distribution channel, and region:
List of Key Players of Alcoholic Beer Market