Global Craft Beer Market: Overview
A microbrewery or a craft brewery refers to a brewery that makes beer in small quantities. Beer produced in microbreweries is much smaller in scale as compared to corporate breweries and independent individuals own those breweries. Such breweries are usually known for their high quality beer with excellent flavor and they are also characterized with their brewing techniques. The global craft beer market is expected to be driven by the increasing demand for the product in different parts of the world, such as in countries like Brazil, New Zealand, Australia, and South Africa. The changing preference of consumers toward alcohol by volume (ABV) and flavored beer is likely to expand the growth of the global craft beer market in the years to come.
The rising awareness amongst the consumers regarding the availability of wide range of styles and flavors of the craft beer together with low alcohol by volume percentage is likely to propel growth of the global craft beer market in the years to come. Furthermore, there has been a shift in consumer preference, which is more inclined toward regular beer now. Nevertheless, there has been an advancement in the process of brewing and there is more utilization of high quality raw material, which has bettered the overall quality of the finished product. This factor has garnered the attention of customers, which is likely to bolster growth of the global craft beer market in the years to come.
Product type, distribution channels, age group, and region are the four important parameters based on which the global craft beer market has been categorized. Such dissection of the market comes with the purpose to offer stakeholders with a detailed and clear analysis of the global craft beer market.
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Global Craft Beer Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global craft beer market is mentioned below:
- In February 2018, Belgium-based leading producer of beer Anheuser-Busch InBev SA/NV or AB InBev, introduced Lisa, premium Italian beer, in the UK. The product comes with the flavor of honey balanced with a clean, dry finish or soft bitterness. Such innovative products are likely to diversify the product portfolio of the company and widen its reach.
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