According to the latest market study released by Technavio, the global beer market is expected to grow at a CAGR of more than 2% during the forecast period.
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Technavio has published a new report on the global beer market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Beer Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global beer market is undergoing slow consolidation because of the presence of mature markets in North America and Western Europe. The increasing demand for other alcoholic beverages such tequila, whiskey, and cognac, coupled with stiff government regulations pertaining to the distribution and import of beer act as challenges for the global beer market. Despite the above challenges, an increase in demand for craft beer, premium brands, and imported brands is expected to drive the global beer market during the forecast period.
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Technavio's food and beveragesresearch analysts categorize the global beer market into the following segments by product. They are:
- Standard larger
- Premium larger
- Specialty beer
- Others beer
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The top three revenue-generating product segments of the global beer market are discussed below:
Lager products that have an alcohol content below 5% alcohol by volume (ABV) are considered as standard lagers. In 2016, the standard lager segment had a 56.41% share of the global beer market in terms of revenue. The low alcohol content of standard lagers makes them popular among health-conscious consumers. The popularity of standard lager is indicated by the fact that standard lager constitutes nearly 14% of the on-trade lager market in the US. Some of the leading brands that offer standard lager beerare Foster's, Carling, and Stella Artois.
According to Manjunath Reddy, a lead alcoholic beverages research analyst from Technavio, "The global standard lager market is witnessing an increasing prominence of flavored lagers, and the vendors operating in this space are coming up with new flavored products to remain competitive. In June 2014, for instance, Molson Coors Canada launched Mad Jack lager in apple flavor in the Canadian market."
In 2016, the premium lager segment accounted for 28.45% of the global beer market in terms of revenue. The increasing demand for premium lager products can be attributed to consumers' perception of premium products being of better quality and taste, and being made using better quality raw materials as compared to regular products. The global premium lager market is witnessing the launch of new products and the introduction of new advertising campaigns by vendors, as they are trying to consolidate their positions in the market.
Specialty beers are made from unusual fermented foods. The addition of fruits, herbs, spices, miscellaneous flavorings such as licorice, smoke, and hot pepper, and odd fermentable products such as maple syrup, honey, and molasses turn an ordinary beer into a specialty beer.
"In 2016, the specialty beer segment accounted for more than 9% of the global beer market in terms of revenue. The demand for specialty beers is increasing mainly because of the growing demand for craft beer and fruit beer. There is an increase in the number of new fruit beer launches as vendors are coming up with assorted products to cater to the demand of their consumers," adds Manjunath.
The top vendors highlighted by Technavio's research analysts in this report are:
- AB InBev
- Calsberg Breweries
- Radeberger Exportbierbrauerei
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