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The global beer market size is projected to grow from USD 768.17 billion in 2021 to USD 989.48 billion in 2028 at a CAGR of 3.68% during the forecast period in 2021-2028. The growing alcohol e-commerce channel and rising personal disposable income levels are expected to magnify market’s growth in the forthcoming years. Fortune Business Insights™ has presented this information in its report titled “Beer Market, 2021-2028”. The market size stood at USD 743.84 billion in 2020.
Alcohol has been used in social engagements historically, and the trend is still growing. The rising prevalence of alcohol socializations and growing westernization among consumers are predicted to augment the growth of the market in the coming years.
COVID-19 Impact-
The unanticipated emergence of the coronavirus pandemic has affected the market’s growth. The shutdown of bars and restaurants has negatively impacted the alcohol industry globally. Additionally, the closure of manufacturing facilities has affected the industry. The disruptions in global supply chain networks have aggravated the situation. Nonetheless, the demand for the product has expanded swiftly in 2021 due to the direct-to-consumer channel. Online beer sales also increased during the pandemic. These trends are likely to amplify the market growth in future.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessins....ights.com/beer-marke