Craft Beer Market Strategies, Top Players, Growth Opportunities, Analysis, and Forecast by 2031

The craft beer market is expected to register a CAGR of 7% during 2023–2031. Rising number of craft beer brands focusing on core styles and quality along with increasing popularity of gluten-free craft beers are likely to remain key market trend.

Craft Beer Market Analysis:

• The elevated interest of consumers in fuller flavored and diverse beers is driving the craft beer market. Consumers are also seeking new and different beer styles. This evolution has made consumers to turn away from mass produced lagers and pilsners. Most craft breweries are focusing on making premium high-quality beer from the traditional brewing methods using local and diverse ingredients.
• The emphasis on producing high quality beers in small batches while incorporating extensive creativity has drawn beer lovers onto craft beer products due to its craftsmanship and novelty tastes. These factors are driving the craft beer market growth.

Craft Beer Market Overview

• Craft beers are now becoming increasingly popular among beer consumers not just because of its taste, but for the health benefits that comes with it. Consumers with health-oriented lifestyles have contributed to the increase in demand for several low alcohol and low-calorie craft beers.
• Social and cultural factors have also contributed to the craft beer trend. As mentioned, craft breweries have transformed into a hub for socializing among friends. The craft beer pub/bar culture has grown especially among millennials. Craft beer has also diversified not just from the perspective of flavors but also beer styles and by using local and regional ingredients. These factors are expected to open potential growth opportunities in the coming years.

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Craft Beer Market: Strategic Insights

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Craft Beer Market Drivers and Opportunities

Increasing Demand for Artisanal and Premium Craft Beers

• Consumers are nowadays looking for more upscale and sophisticated taste. Mass-market beer is no longer favored by the majority of customers. Beer being an alcoholic beverage, artisanal and premium craft beers offer the market unique tastes and aromas. They are produced using handling techniques with high level of sophistication and quality and carefully selected ingredients to produce good quality brews.
• Consumers are ready to pay additional price for premium craft beers to enhance their drinking experience. Thus, increasing demand for artisanal and premium craft beers is significantly driving the market growth.

Opportunities

Rising Interest in Local, Small-Batch Beers

• Growth opportunities for the craft beer market can be seen because of the increasing desire for local and small batch craft beers. Consumers are looking for unique and authentic beer experiences, and through local breweries consumers get what they are looking for.
• Craft beers allow you to support your local brand and economy. The fact that these beers are local keeps them distinctive and supports a local business.
• Small batch craft beers are basically beers that are made in limited quantities, thus offering a unique and exclusive experience because of its limited availability.
• Thus, rising consumer interest in small-batch and local beers is projected to offer immense growth opportunities in the coming years.

Craft Beer Market Segmentation

The scope of the global craft beer market has been segmented on the based-on type, category, and distribution channel.

• Based on type, the craft beer market is divided into ale, lager, stout, and others.
• On the basis of category, the market is divided into gluten-free and conventional.
• Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.

Craft Beer Market Share Analysis by Geography

• Craft Beer Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering craft beer market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the craft beer market in these regions.

Craft Beer Market Regional Insights

The regional trends and factors influencing the Craft Beer Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Craft Beer Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Craft Beer Market Report Scope

Craft Beer Market Players Density: Understanding Its Impact on Business Dynamics

The Craft Beer Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Craft Beer Market are:

1. Sierra Nevada Brewing Co
2. DG Yuengling and Son Inc
3. Anchor Brewing
4. Artisanal Brewing Ventures
5. Bells

Disclaimer: The companies listed above are not ranked in any particular order.

Craft Beer Market News and Recent Developments:

The craft beer market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:

• Kikkoman India Pvt. Ltd. (KID), Kikkoman's sales and marketing company in India, launched the group’s first ever dark craft beer crafted exclusively for the Indian market in February 2024. This new product, named “Kikkoman Dark Craft Beer”, imparts both rich color and deliciousness to dishes, and targets Asian restaurants, primarily Indian Chinese cuisine. (Source – Kikkoman Corporation, Newsletters, March 2024)
• The Georgia Department of Economic Development announced that Lee Kum Kee Sauce Group, a global name in Asian sauces and condiments, will invest up to $288 million in a new manufacturing facility in LaGrange, creating up to 267 jobs in Troup County over the next several years. The facility will produce Asian sauces and condiments to support the company’s future growth in the Americas. (Source - Georgia Department of Economic Development, Press Release, June 2024)

Craft Beer Market Report Coverage and Deliverables

The “Craft Beer Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:

• Craft Beer market size and forecast at global, regional and country levels for all the key market segments covered under the scope.
• Craft Beer market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Craft Beer market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the craft beer market.
• Detailed company profiles