Functional Beverages is fastest growing segment fueling the growth of the Global Beer Market

 

Beer is an alcoholic beverage produced by fermenting various grains. It includes barley, wheat, rice, or maize. Beer offers health advantages like reducing the risk of heart diseases and lowering the chances of certain types of strokes. It also helps in prevention of some cancers and tooth decay.

The global Beer Market is estimated to be valued at US$ 821.36 Bn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends witnessed in the Global Beer Market Size is the increased demand for functional beverages. Consumers are increasingly opting for beer infused with extra nutrients, herbal extracts, vitamin blends to gain additional health benefits beyond basic refreshment. For instance, beer infused with beneficial herbs like ginger, turmeric or infused with probiotics is gaining popularity among health-conscious consumers. Beer companies are leveraging this trend by launching various functional beer products in the market.

Segment Analysis

The global beer market is segmented on the basis of product type, packaging, production, and distribution channel. Based on product type, the lager segment dominated the market in 2023 and is expected to remain dominant over the forecast period. Lager beers have a smoother, milder taste and can be easily consumed in large quantities. This has made lager beers very popular mass consumption beers across the world.

Key Takeaways

The global beer market is expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing socialization and rising alcohol consumption among millennial populations. The market size for 2023 is US$ 821.36 Bn.

Regional analysis

Asia Pacific region dominated the global beer market in 2023 and is expected to remain the fastest growing as well as the dominating regional market over the forecast period. Countries like China and India provide huge growth opportunities owing to rising disposable incomes, urbanization, western influences.

Key players operating in the beer market are Anheuser-Busch InBev, Beijing Enterprises Holdings Limited, Carlsberg Group, Diageo PLC, Dogfish Head Craft Brewery, Inc, Heineken Holding NV., Squatters Pubs and Craft Beers, Sierra Nevada Brewing Co., The Boston Beer Company, Inc, and United Breweries Limited. These major players are focusing on strategic initiatives like mergers, acquisitions and expansions to increase their market share and presence in emerging economies.

For More Insights, Read- https://www.newsstatix.com/beer-market-size-share-analysis-2023-2030/


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