Kenneth Research, in its repository of market research reports, have recently added a report on Beer Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Beer Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Beer Market was valued at USD 572 Billion in the year 2017. The Global Beer Market is further estimated to grow at a CAGR of 5.5% from 2019 to reach USD 875.66 Billion by the year 2025. Asia-Pacific region holds the highest Market share in 2017 and Europe Market is considered as the fastest growing Market in the forecasted period. At the country level, the China and India are projected to grow strongly in the coming years.
Major market players in Beer Market are Heineken Holding NV., Carlsberg Group, Boston Beer Company, Diageo PLC, Kirin Holdings Co. Ltd, Asahi Group Holdings Ltd, Camden Town Brewery, Anheuser-Busch InBev, and brief overview of 12 companies is also provided in the report. Rising research and development expenses to cater to changing demand of end users. Similarly, growth strategies such as acquisition, a collaboration of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Beer Market:
Rising number of a female drinker and youth population
Higher excise duty and taxes on local as well as imported beers
Rising demand natural flavored and craft beer
Controlling the quality and consistency
The Global Beer Market is segmented on the basis of type, packaging, production, category, and region. The major shares of the Market come from Strong Beer, by type in Global Beer Market. On the other hand, Premium Beer, by category for this Market is expected to grow at highest CAGR during the year 2019-2025.
Beer Market Segmentation:
*Super Premium Beer
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East & Africa
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