Lager: Key market research findings
- Introduction of new flavours
- Growing demand for premium lager
Technavio has released a new market research report on the global lager market, which is expected to grow at a CAGR of 4% between 2016 and 2020. Lager beers are fermented at cooler temperatures, which slows down yeast activity, necessitating longer maturation time. Rising disposable income and the increasing population of drinkers of legal age in growing economies are boosting the growth of laser market. APAC is expected to be the fastest-growing region in the global lager market, owing to the presence of highest revenues-contributing nations such as India and China. The rise in disposable income, the increasing per capita consumption on beer, and the presence of a large young population are expected to boost market growth in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the key trends gaining prominence in the global lager market is the introduction of new flavours to cater to the changing taste preferences of consumers. Vendors have come up with new and innovative flavoured lager beers in chocolate, blueberry, Brussel sprout and lemon. Recently, Lululemon introduced Curiosity Lager flavoured with chinook and lemon-drop hops. Moreover, changing consumer preferences have pushed craft breweries to shift their focus to the production of craft lagers during eth forecast period,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Of late, the market is witnessing increased demand for premium lager beer products especially in major markets such as the UK, the US, and Canada. This has propelled vendors to come up with authentic and genuine premium lasers. Lager products with over 5% ABV are categorized as premium lagers. These are usually brewed from better-quality raw materials and are of superior taste and quality. Recently, Mad Jack launched its premium apple lager, which was the recipient of the Canadian Living 2015 Best New Product Award under the category New Beer
The key vendors in the global lager market include AB InBev, Heineken, SAB Miller and Carlsberg. This market is very competitive because of the presence of numerous regional and international players. However, the majority of the market is dominated by the leading four vendors. The market is consolidated, and major vendors have merged to form new formidable entities. Consumers in the market are brand loyal, and the entry of new entrants to the market requires substantial capital investments
A more detailed analysis is available in the Technavio report, Global Lager Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
