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Beer Market Size, Share, Supply, Demand, Segments and Forecast 2027

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The global beer industry


 is

expected to grow at a CAGR of 4.22% between 2019 and 2026. This is ascribable

to factors such as the easy availability of raw materials and increasing consumption

of the product across the globe. Fortune Business Insights, publish this

information in its latest report, titled “Beer Market Size, Share

& Industry Analysis, By Type (Lager, Ale, Stouts, and Others), Packaging

(Glass Bottle and Metal Can), and Distribution Channel (On-trade and

Off-trade), and Regional Forecast, 2019 – 2026.”

 

The report

further observes that the market was worth USD 693.39 billion in 2018 and is

expected to reach USD 962.39 billion by 2026.



Beer is believed to be discovered over 5000

years ago at Godin Tepe that is located in the central Zagros mountain ranges

of Iran. The earliest beer is said to be extracted from the barley dates, while

the Weihenstephan Brewery is considered the oldest brewery in the world. Today,

gallons of beer is consumed across the globe, which is a favorite beverage

among old and millennials alike. According to a data from the World Atlas,

Czech Republic hold the title of being the largest beer-consuming country with

about 142.6 liters per capita annual drinks recorded in the country. Today,

innovation in flavors and emergence of modern breweries is propelling the

demand for the beverage across the globe.





What does the Report Include?




The market report includes an exhaustive study

of several factors such as drivers, restraints, challenges, and opportunities

that will affect the growth of the market in the forthcoming years. The report

covers regional demographics that include qualitative and quantitative information

about the regions that are further divided into nations that are contributing

to the growth of the market between 2019 and 2026. Furthermore, the competitive

landscape has been discussed in-depth that include information of several

players operating in the market. Moreover, information on the adoption of

strategies such as merger and acquisition, collaboration, partnerships, and

joint ventures by the companies that will drive the growth of the market has

been included during the projected horizon.



Drivers and Restraints:




Abundant Availability of

Raw Material for Product Manufacturing to Aid Growth




According to Fortune Business Insights report,

the global wheat production has surged over the past five years that

supplements raw material such as wheat and barley for the beer manufacturers.

The availability of the raw materials along with large consumer base in several

regions across the globe is expected to propel the global beer market growth

during the forecast period. For instance, according to a report by Kirin Beer

University in 2018, China was found to be the largest beer consuming country

across the globe. Furthermore, increasing acceptance of western culture in

countries such as China and India in Asia-Pacific is anticipated to drive the

market growth in the forthcoming years.



Regional Analysis:




Large Consumer Base in

North America to Augur Growth




Among the regions, North America is expected to

witness exponential growth and register highest global beer market revenue in

the forthcoming years. In addition to this, the region was worth USD 121.36

billion in 2018 and is witnessing growth owing to presence of large consumer

base. Furthermore, evolving consumer preference and growing demand for beer

from the working population will bode well for the market growth. Asia-Pacific,

on the other hand, is expected to witness significant growth during the

forecast period. This is attributable to factors such as increasing demand for

the product from the countries such as China, India, and Australia in the region.

Moreover, high disposable income and growing preference for luxury product is

anticipated to aid the market growth between 2019 and 2026.





Competitive Landscape:




Product Launches by the

Companies to Surge Demand




Fortune Business Insights reports that the

market comprises of several small, medium, and large companies trying to

consolidate their position in the fiercely competitive global beer market. They

are doing this by adopting strategies such as innovative product launches, partnership,

and merger and acquisition. For instance, in March 2020, Innis & Gunn, a

Scottish brewery, announced its launch of new limited-edition beer, Islay

Whisky Cask. The new beer from the brewery seeks inspiration from the

barrel-old spirits found across the globe. 



Browse Summary of this

Research Report with Detailed Table of Content:

 



https://www.fortunebusinessinsights.com/beer-market-102489