The global black beer market is expected to post a CAGR of over 2% during the period 2019-2023, according to the latest market research report by Technavio
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The global black beer market will post a CAGR of over 2% during the period 2019-2023 (Graphic: Business Wire)
Consumers are increasingly preferring craft beer owing to the varieties available and the distinctive taste because of the addition of ingredients different from those used in regular beer. To meet the rising demand for craft beer, new breweries are being established globally. The bigger players in the market are also entering the craft drinks segment by acquiring small craft breweries. The growth in the craft beer segment can also be attributed to the rising demand for premium drinks by millennials and Gen-X consumers. As a result, the demand for black beer is also expected to grow during the forecast period.
As per Technavio, the expansion of breweries globally will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global black beer market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global black beer market: Expansion of breweries globally
Globally, brewers are focusing on expanding their production capacities to diversify into new markets as well as increase their sales revenue. For instance, in November 2017, Grupo Modelo, a subsidiary of Anheuser-Busch InBev, announced its plan to build a new brewery in Apan, Mexico. The new brewery is expected to have an initial capacity of over 10 million barrels, and the plant is to produce over 9 million bottled beers per day. Such expansions are expected to drive better scales of economy for beer producers, resulting in higher profit margins during the forecast period.
"Apart from the expansion of breweries globally, the rising consumption of alcoholic drinks and increasing popularity of beer in developing countries are some other major factors that are expected to drive the growth of the global black beer market, during the forecast period," says a senior analyst at Technavio.
Global black beer market: Segmentation analysis
This market research report segments the global black beer market by distribution channel (off-trade and on-trade) and geographical regions (Europe, North America, APAC, South America, and MEA).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the increasing middle-class population, improving per capita income, and inclination of millennials toward beer.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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