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.

Fortune Business Insights™ lists out all the beer market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

Anheuser-Busch InBev (Leuven, Belgium)
Heineken N.V. (Amsterdam, Netherlands)
China Resources Breweries (Beijing, China)
Carlsberg A/S (Copenhagen, Denmark)
Diageo Plc (London, U.K.)
Molson Coors Beverage Company (Illinois, U.S.)
Boston Beer Company (Massachusetts, U.S.)
Asahi Group Holdings Ltd (Tokyo, Japan)
Kirin Holdings Co. Ltd (Tokyo, Japan)
Beijing Yanjing Beer Group Corporation (Beijing, China)
Browse Detailed Summary of Research Report:

https://www.fortunebusinessins....ights.com/beer-marke
Regional Insights-

Europe to Hold the Lion’s Share Due to the Presence of Several SMEs

Europe is projected to attain the largest global beer market share. Beer is a crucial part of heritage, culture, and nutrition in Europe and is cherished across all European countries. Europe hosts several small and medium sized firms, including micro-breweries and the breweries functioning at regional, local, and national levels. The numbers of these breweries are increasing and are anticipated to favor market growth. Additionally, the rising inclination of consumers towards low-alcohol products is expected to boost the demand for the product and augment the market growth.

Asia Pacific is anticipated to rank second in global market. The rising demand for premium alcoholic appeal and refreshing flavor profiles are expected to drive the market’s growth. Additionally, the growing adoption of westernized patterns is predicted to favor the market’s growth.

North America is likely to attain the third rank in global market. The rising number of breweries and the evolving consumer preferences are expected to aid the market growth in the region.

Competitive Landscape-

Key Players Adopt Ingenious Growth Strategies to Acquire Growth

The market is fairly consolidated and comprises several key players operating internationally and domestically. They adopt various growth strategies including new product launches, patents, partnerships, collaborations, and others to augment their consumer bases and enhance their market reach. For instance, Carlsberg Group A/S signed an agreement with Bitburger Braugruppe in October 2020 to acquire the Wernersgruner brewery in Germany’s Vogtland region.

Industry Developments-

November 2020: Anheuser-Busch InBev launched Beck’s Ice Premium Lager in India. The super mild beer offers 3.5% ABV and paved a way for a new category in this industry.