The Global Beer Market Is Projected To Driven By Rising Social Influence And Promotion

 

Beer Market

Beer is one of the most popular and widely consumed alcoholic beverages around the world. Beer is brewed from cereals grains such as malted barley, wheat, maize and rice. Various types of beers including lager, pilsner, ale and stouts are produced which differ in taste, color and alcohol content. Beer consumption brings people together for social gatherings and events. Rising social influence and extensive promotional activities by key players have been driving the demand for beer globally. The global beer market offers lucrative opportunities for manufacturers with constant product innovation and attractive marketing campaigns. Major breweries are introducing premium and craft brews to attract new consumers.

The global Beer Market is estimated to be valued at US$ 946.21 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends driving growth in the global beer market is the rising popularity of craft beer among millennials and generation Z consumers. Craft breweries are experimenting with unique flavors, styles and ingredients to offer differentiated products in the market. Moreover, growing health consciousness have led consumers to shift from high calorie beers to low or mid-calorie offerings. Key players are launching light beers with low carbohydrate content to expand their consumer base. Additionally, the premiumization trend is on the rise as affluent consumers are willing to pay premium prices for exclusive craft experiences. Manufacturers are focusing on improving packaging with innovative designs and sustainable materials to attract these consumers.

Porter's Analysis

Threat of new entrants: The threat of new entrants in the beer market is moderate as the market is highly fragmented with the presence of many domestic and international players. However, high initial investments and established brand loyalty create barriers for new players.

Bargaining power of buyers: The bargaining power of buyers is high given the availability of various substitutes. Buyers can easily switch to other alcoholic beverages like wine or spirits if beer prices increase substantially.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the inputs required for beer production such as malt, hops, water, and packaging materials have few substitutes. Established players can leverage economies of scale in sourcing raw materials.

Threat of new substitutes: The threat of substitutes is moderate as beer faces competition from other alcoholic drinks. However, beer has established preferences among consumers for social consumption.

Competitive rivalry: The competitive rivalry in the global beer market is high due to the presence of many domestic and international brands. Players compete based on product innovation, pricing, branding & promotion.

Key Takeaways

The Global Beer Market Size is expected to witness high growth over the forecast period supported by rising social and cultural acceptance of beer. The global Beer Market is estimated to be valued at US$ 946.21 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.

Regional analysis: The Asia Pacific region dominates the global beer market and is expected to grow at the fastest pace during the forecast period. This can be attributed to changing lifestyles and rising disposable incomes in developing countries such as India and China.

Key players: Key players operating in the beer market are B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., Ortho Regenerative Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED, and Smith+Nephew, CONMED Corporation.

The key players are focusing on new product launches and partnerships with regional players to expand their presence and gain market share. Players also compete based on health benefits, taste, ingredients, and price to attract more consumers.

For more Insights, Read –

https://www.marketwebjournal.com/beer-market-trends-size-and-share-analysis/