Update: Beer Global Market Report 2021 Including Market Size, Share & Growth Analysis, Global Beer Consumption Statistics
LONDON, April 01, 2021 (GLOBE NEWSWIRE) — The global beer market reached a value of nearly $189 billion in 2020, having declined at a compound annual growth rate (CAGR) of -1.4% since 2015. The market is expected to grow from $189 billion in 2020 to $281 billion in 2025 at a rate of 8.2% . The market is then expected to grow at a CAGR of 5.7% from 2025 and reach $370 billion in 2030.
Going forward, low interest rates and a rise in alcohol consumption will drive the growth of the beer market. Low interest rates in most developed countries aid the growth of the beer market. For instance, in 2019, the European Central Bank decreased interest rates to -0.5% on deposits from banks to encourage lending. This created a flow of cheap money for investment, both in developed and developing economies. It also encouraged borrowing and discouraged saving in advanced markets, helping to drive spending as the cost of borrowing money is less under a low interest rate environment. As companies in the beverages industry are capital intensive, low interest rates led to increased investments in the market, thereby driving the growth of the beer market during the historic period.
Increase in alcohol consumption contributed to the growth of the beer market during the historic period. Globally, there has been an increase in alcohol consumption during the historic period. For instance, in 2017, 77% of the Chinese consumed alcohol at least once in a while. During 2010-2017, per capita alcohol consumption in India and Japan increased by 5.9 liters and 7.9 liters respectively. Changing lifestyles, increasing affluence, and stress drinking are some major factors driving the demand for alcohol.
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The Business Research Company’s report titled Beer Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major beer companies, beer market share by company, beer manufacturers, beer market size, and beer market forecasts. The report also covers the global beer market and its segments.
The beer market is segmented by type into lagers, ales, stouts & porters and malts . The lagers market was the largest segment of the beer market segmented by type, accounting for 84.0% of the total in 2020. Going forward, the malts market segment is expected to be the fastest growing segment in the beer market segmented by type, at a CAGR of 10.8% during 2020-2025. The top opportunities in the beer market segmented by type will arise in the lagers segment , which will gain $75 billion of global annual sales by 2025.
The beer market is also segmented by distribution channel into off-trade channels and on-trade channels; by packaging into canned, bottled and draught, and by category into mass and premium.
Beer Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole beer market, beer market segments and beer market geographies, beer market trends, beer market drivers, beer market restraints, beer market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
Impact Of COVID-19 On The Global Beer Market :
During strict lockdown periods in various countries, not only were bars and restaurants shut, but liquor stores were also forced to temporarily stop operations in efforts to curb the spread of the virus. The shutdown of liquor stores, bars, restaurants, along with temporary closure of cross-border trading greatly impacted sales and revenues in the alcoholic beverages market. Even as the lockdown period eased and some bars and restaurants resumed operations, the enormous sales generated from alcoholic beverages suffered major setback as consumers became hesitant with the socialization aspect of dining out. The number of consumers significantly reduced as people became aware of the health implications and the risk of exposure. Alcohol sales were further offset by the collapse in on-premises sales and catering for events and large gatherings.
COVID-19 has impacted the alcohol industry (including beer) to a great extent, which has resulted in a decrease in out-of-home alcohol consumption. According to a survey conducted by Edelweiss Securities Analysts, out-of-home alcohol consumption, which contributes 15% to spirits and 25% to beer sales volumes, will take a big hit in India due to the pandemic.
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The beer market is highly concentrated , with a small number of large players dominating the industry. The top ten competitors in the market made up to 54.95% of the total market in 2020 . The beer market is highly competitive . Companies in the beer market face intense competition from regional brewers, microbrewers and certain international companies. The market competition is also characterized by other available alcohol beverages, such as wine, spirits and continuously changing consumer preferences. The market consolidation is due to stringent government regulations and high market capitalization to establish new alcoholic beverages units. Major players in the market include Anheuser-Busch InBev SA/NV, Heineken N.V., Carlsberg Group, Molson Coors Beverage Company and Asahi Group Holdings, Ltd .
Player-adopted strategies in the beer market include expanding operations and production capacity through sustainable investments, expanding business operations and product portfolio through mergers and acquisitions, improving beer category dynamics through innovations and research and developments and broadening product portfolio and offering new products.
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