Specialty beers are manufactured from different fermented foods and techniques. When a regular beer is innovatively processed by adding flavors such as herbs, fruit and spices, it gets transformed into a specialty beer. The specialty beer comes in various tastes and flavors. Moreover, the growth of the specialty beer market can be attributed to factors such as rise in the demand for exotic beer flavors, increase in the exports of beer from developed regions, rising demand from the emerging economies, such as APEJ, rise in the disposable income of people around the globe, higher liking for beer taste and innovative beer styles, etc. Europe region, by far, has been the most lucrative region showing higher market attractiveness.
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The global specialty beer market is poised to reflect a value more than US$ 15 Bn by the end of 2024 and is anticipated to grow at a moderate CAGR during the forecasted period of 2017 to 2024.
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7 Forecast Highlights on Global Specialty Beer Market
- Europe region shows higher market attractiveness in the global specialty beer market. it can be considered as the most lucrative region for this market as it reflects a higher market share by revenue thereby dominating other regions in this market. this trend is expected to grow in the coming years
- Asia-Pacific excluding Japan (APEJ) region shows the highest growth rate and is poised to register a CAGR of 3.9% during the period of forecast. this emerging economy experiences a rise in the demand for specialty beers and its various types which is the main reason for driving the growth of the specialty beer market in this region
- The American sour segment by fermenting style is expected to retain its dominance over the other fermenting style segments as it shows a higher market share and this trend is to continue over the period of forecast as it is reinforced by a higher growth rate throughout the period of forecast. The American sour segment is anticipated to register a CAGR of 4.1% during the forecast period 2017 to 2024 and also is likely to experience a higher gain in the BPs by the end of 2024
- There is a close call between Belgian Gueuze and Belgian fruit Lambic segments by fermenting style as both these segments show similar market shares. However, the Belgian Gueuze segment has an upper hand in terms of growth rate as it is poised to grow at a higher rate than the Belgian fruit Lambic during the period of forecast
- Fruit beers segment dominates the global specialty beer market by product type followed by herb and spice beers segment which shows comparatively less market share, but a higher growth rate and is expected to register a CAGR of 4.6% during the forecast period. The herb and spice beers segment is also likely to gain a higher BPS by the end of 2024
- Contract brewing company and independent regional craft brewing company segments by distribution channel grow on similar paths, reflecting almost same market share by revenue. But the later one is a bit high in terms of growth rate as well as a shade better with respect to market share. Both these segments could experience a loss in the BPs by the end of 2024
- The microbrewery segment by distribution channel seems like the best option to invest in. This segment shows the highest growth rate and is expected to register a CAGR of 4.2% during the period of forecast of 2017 to 2024. This segment also dominates other segments with respect to market share as it shows the highest market share as well. It is also probable that this segment could witness a higher rise in the BPS by the end of 2024
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The report has also profiled leading players in the global market for specialty beer, which would remain active through 2024. These include companies like Deschutes Brewery, Inc., Diaego Guinness USA Inc., North American Breweries Inc., SweetWater Brewing Company, LLC, Bells brewery Inc., Duvel Moortgat NV, Heineken Holding N.V, Molson Coors Brewing Company, Anheuser-Busch InBev SA/NV, Sierra Nevada Brewing Co., Stone Brewing Co., D.G. Yuengling & Son, Inc., and The Boston Beer Company, Inc.
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