Consumers’ inclination towards consumption of craft beer owing to the advent of flavors variety and style and presence of low volume by alcohol is driving the market growth. Use of advanced brewing techniques coupled with production from premium quality raw materials is fueling market growth. In addition, improving the living of standards with high disposable income of the consumers is boosting craft beer market growth. Rising demand of product owing to the wide range of flavor & style, health benefits, and higher profit margins are attracting new players within the craft beer market. Moreover, the government of various countries promoting craft beer consumption owing to major contribution in economic development and employment generation is boosting the market growth. As per the latest report added by Value Market Research, the Global Craft Beer Market was valued USD 118.5 MN (by revenue) in 2017 and is anticipated to reach USD 420.2 MN by 2024 with a CAGR of 19.6%.

BY TYPE, ALE IS THE LEADING SEGMENT

Ale dominated the type segment owing to the balanced composition of raw material such as malts, hops, yeast, and water has increased its demand among the consumers. Ale is anticipated to reach USD XX.X MN by end of the year 2024.



BAR DOMINATED THE APPLICATION SEGMENT

In 2017, bar led the application segment owing to the rising number of bars & pubs, growing young millennium's population and rise in disposable income are the prime factors driving the segment growth. By 2024, Bar is presumed to reach USD XX.X MN.



EUROPE DOMINATED THE REGIONAL MARKET

Geographically, Europe dominates the market owing to a shift in consumer preference for flavored and low alcohol beer coupled with rising disposable income is fueling the market growth. Europe is expected to reach USD XX.X MN by end of the year 2024.



KEY PLAYERS OF THE MARKET

Alesmith Brewing Co., Inc., Brewdog Plc, Carlsberg Group, Dogfish Head Craft Brewery Inc., Guinness & Co., Hangar 24 Craft Brewery, Llc, Karl Strauss, Lagunitas Brewing Company, Mother Earth Brewing, Ninkasi Brewing Company, Stone Brewing, Tuatara Breweries, D.G. Yuengling And Son Inc. and The Boston Beer Company, Inc. are the key players of the craft beer market. Ale dominated the type segment owing to the balanced composition of raw material such as malts, hops, yeast, and water has increased its demand among the consumers. Ale is anticipated to reach USD XX.X MN by end of the year 2024.In 2017, bar led the application segment owing to the rising number of bars & pubs, growing young millennium's population and rise in disposable income are the prime factors driving the segment growth. By 2024, Bar is presumed to reach USD XX.X MN.Geographically, Europe dominates the market owing to a shift in consumer preference for flavored and low alcohol beer coupled with rising disposable income is fueling the market growth. Europe is expected to reach USD XX.X MN by end of the year 2024.Alesmith Brewing Co., Inc., Brewdog Plc, Carlsberg Group, Dogfish Head Craft Brewery Inc., Guinness & Co., Hangar 24 Craft Brewery, Llc, Karl Strauss, Lagunitas Brewing Company, Mother Earth Brewing, Ninkasi Brewing Company, Stone Brewing, Tuatara Breweries, D.G. Yuengling And Son Inc. and The Boston Beer Company, Inc. are the key players of the craft beer market.

As per this study, the Global Craft Beer Market was valued USD XXX.X MN (by revenue) in 2019 and is anticipated to reach USD XXX.X MN by 2026 with a CAGR of XX.X%.



Craft beer refers to the production of traditionally made beer on a small-scale brewery. The production of craft beers is done with the help of traditional ingredients like malted barley, along with hops, yeast, and water. The process of craft beer consists of malt milling followed by mash turn and then kittling. The beer production process is further carried with heat exchange process and fermentation. The fermented beer is then filtered as to remove the large yeast particle and resulted in filtered beer is then pasteurized, packed, stored or supplied. Craft beers mostly preferred over other traditional beer because they are popular for distinct flavor which includes exotic ingredients, rich dessert flavors and interesting herbs and spices.



Market Dynamics



Rising consumer awareness regarding consumption of craft beer owing to the wide range of flavors along with low alcohol volume (LAV) percentage is driving the market growth. The industry is mainly driven by the millennial as they are the frequently visiting restaurant and pubs. Moreover, the rising trend of spending money on leisure’s activity between the youngster and desire to always drink something unique is expected to shape a positive impact on the demand for crafts beer market. Furthermore, an increase in consumer taste for experimentation and premium products has fueled a modern craft movement, which is in favor of market growth. However, high taxes associated with the product are expected to hamper the market growth.



This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of craft beer.



Market Segmentation



The broad craft beer market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.



By Type Market Share 2019







By Type Ale

Lager

By Application Bar

Food Service

Personal Buyer

Regional Analysis



Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for craft beer in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.



Europe Craft Beer Market By Revenue (USD MN)







The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the craft beer market includes Alesmith Brewing Co., Inc., Brewdog PLC, Carlsberg Group, Dogfish Head Craft Brewery Inc., Guinness & Co., Hangar 24 Craft Brewery, LLC, Karl Strauss, Lagunitas Brewing Company, Mother Earth Brewing, Ninkasi Brewing Company, Stone Brewing, Tuatara Breweries, D.G. Yuengling And Son Inc And Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.



METHODOLOGY:



A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand. Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for craft beer in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the craft beer market includes Alesmith Brewing Co., Inc., Brewdog PLC, Carlsberg Group, Dogfish Head Craft Brewery Inc., Guinness & Co., Hangar 24 Craft Brewery, LLC, Karl Strauss, Lagunitas Brewing Company, Mother Earth Brewing, Ninkasi Brewing Company, Stone Brewing, Tuatara Breweries, D.G. Yuengling And Son Inc And Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.