Beer Market Expected to Reach $873.0 Billion by 2034

According to a new report published by Allied Market Research, titled, “beer market" was valued at $650.2 billion in 2023, and is projected to reach $873.0 billion by 2034, growing at a CAGR of 2.7% from 2024 to 2034.

There is significant growth in the number of breweries over the past few years. As the number of alcohol consuming consumers is increasing continuously need for various flavors is also present in the consumer mindset. Consumers are always seeking for new flavors in beers to explore their taste for beers. As there are many well established global players in the market players from countries such as Czhech Republic, Mexico, Costa Rica, Argentina, Chile, India, Caribbean Countries are expanding their product portfolio to offer new products to consumers. With increasing number of local players, need for more breweries is also expanding and hence market players are focusing on partnering of opening their own breweries in various international markets to make their products available in those markets. The trend of consuming local beers is resulting in increasing number of breweries, this is expected to boost the beer market opportunities during the forecast time period.

However, alcoholic drinks have been known for their addictive as well as health concerning nature, if consumed in excess. Rise in number of consumers suffering from alcohol addiction has been a great concern for governments of different nations. As a result, many governments have imposed stringent rules and regulations about the sales and distribution of these products. Moreover, there are restrictions on advertisements and promotions of such products, which restricts the marketing strategies available to the manufacturers. In addition, some governments also support campaigns and non-government organizations (NGO) that condemn the use of such beverages. These factors act as major hindrances for the beer market growth. 

The beer market analysis is done on the basis of type, packaging, category, and region. Based on type, the market is divided into lager, ale, stout & porter, malt, and others. Based on packaging, the market is divided into glass, metal can, and others. On the basis of category, the market is categorized into popular-priced, premium, and super premium. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Based on type, the beer market is categorized into lager, ale, stout & porter, malt, and others. Lager segment constitute a major beer market share; however, the ale segment is projected to experience growth at the highest CAGR during the beer market forecast period. Lager is one of the most widely consumed beer in the globe, which has thus set a beer market trend. Moreover, the bottom-fermented techniques used to brew it which result in keeping lager beer fresh. 

On the basis of category, the beer market is categorized into popular-priced, premium and super premium. The premium segment held the major share in the market, and is projected to remain dominant during the forecast period. Premium beers are usually made by higher quality grains and the grains that are priced very high. These beers are generally consumed in bars and full-service restaurants by millennial as well as old age population owing to which its demand significantly raising across the world.

Based on packaging, the beer market is divided into glass, metal can and others. Glass segment lead in terms of market share and is expected to continue to grow with robust CAGR during the forecast period. Consumer’s primary choice for reliable, healthy, sustainable, and premium beer will continue to keep glass bottle packing in strong demand. Glass is durable, non-porous, impermeable to oxygen, and heat tolerant, which preserves and presents beer flavor exactly as intended due to which consumer prefer more beer in glass bottle.

Regionwise, Asia-Pacific has dominated the global beer market in 2023. The large and growing population of Asia-Pacific, particularly in countries such as China and India, has driven a significant increase in beer consumption, expanding the beer market size. Rising disposable incomes and urbanization have further fueled demand for premium and craft beer, enhancing the beer market share in Asia-Pacific. Moreover, changing lifestyles and increased social acceptance of alcohol consumption have supported the dominant position of Asia-Pacific. Furthermore, major beer producers have also focused on expanding their presence and product offerings in the Asia-Pacific region, further consolidating its leading share in the global beer market.

The major players operating in the beer market include Anheuser-Busch InBev, Beijing Enterprises Holdings Limited, Carlsberg Group, Diageo PLC, Dogfish Head Craft Brewery, Inc, Heineken Holding NV., Squatters Pubs and Craft Beers, Sierra Nevada Brewing Co., The Boston Beer Company, Inc, and United Breweries Limited.

Key Findings Of The Study

• By type, the beer segment dominated the global beer market size in 2023.
• By packaging, the beer industry is divided into glass, metal can and others. Glass segment lead in terms of market share in 2023, and is expected to continue to grow with robust CAGR during the forecast period.
• By category, the premium segment held the major share in the market in 2023, and is projected to remain dominant during the forecast period.
• By region, Asia-Pacific accounted for highest market share in 2023.