London, 22 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global beer market 2015-2019, which is estimated to grow at a CAGR of 2.97% in terms of revenue and 1.24% in terms of volume during the forecast period of 2014-2019.
Changes in lifestyles and the increase in global disposable income have supported higher consumption of alcohol, fueling market growth in many developing countries in Africa, Latin America, and APAC. Vendors are increasingly introducing products such as gluten-free beers and organic beers to cater to the growing demand among health-conscious consumers.
“The millennials, who belong to the age group of 25 to 35 years, account for the highest demand for alcoholic drinks, especially beer, craft beer, and other flavored beverages in the US,” says Faisal Ghaus, Vice President of Technavio.
“Consumers in this age group are generally more open to experimenting with new varieties and flavors than people of other age groups, and many of them tend to purchase alcoholic drinks of high-quality with premium price tags.”
Key Market Drivers
- Introduction of New Products
- Increase in Demand among Millennial Population in US
- Popularity of Premium Beer
- Demand for Beer with Low Alcohol Content
Key Market Trends
- Demand for Low-calorie Beer
- Improved Marketing and Promotions by Vendors
- Increase in Sour Beer Production
- Rise in Demand from APAC
- Availability of Personalized Brews
Key Market Vendors
- Anheuser-Busch InBev (AB InBev)
- Carlsberg Breweries A/S
- China Resource Enterprise Ltd.
- Heineken International
- SABMiller plc
- Tsingtao Brewery Co. Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
