Craft brewery is a brewery that manufacturers small amounts of beer, typically much smaller than large-scale commercial breweries, and is autonomously owned Malt beer brewed with traditional methods and ingredients, inspired by classic styles, however unlike commercial beer, craft beer is not pasteurized. Brewed by small, independent breweries, craft beer offers a huge range of colors, flavors, and texture. Asia-Pacific and other developing regions serve as the engine of global growth and exhibits an excellent further growth prospects for the global Covid-19 Impact on Craft Beer Market. Healthy growth and climbing income levels will continue to boost demand of craft beer and product innovation.
Rising middle class population in emerging markets such as Asia-Pacific and Latin America are raising the customer expectations resulting in resetting strategic imperatives for industrial manufacturers in these regions. These factors will support the growth of craft beer market, and will grow at a CAGR of 7.02%. Key players in the global craft beer market are emphasizing to enhance their investment in product development in order to extend the product line. Also, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate in the untapped market.
This report includes a study of strategies used in the Covid-19 Impact on Craft Beer Market mergers and acquisitions, multiple product launch by craft beer market players. It further includes product portfolios and developments of leading major players which includes
The key players profiled in the Covid-19 Impact on Craft Beer Market are as Bell’s Brewery (U.S.), Boston Beer Co. (U.S.), Yuengling & Son Inc. (U.S.), New Belgium Craft Brewery (U.S.), Deschutes Brewery (U.S.), Duvel MOORTGAT USA (U.S.) and Sweetwater Brewery (U.S.)
The craft beer business is highly competitive and huge. Economies of scale include factors leading to fall in average cost of production as the value of output increases. The initial investments in Craft Beer market are high including high equipment costs; however the revenues are also high considering to high demand for craft beer and growing trend of different regional specific. Production costs for Craft Beer are typically higher because of skilled LABOUR inputs, maintenance cost and food safety testing & certification.
Craft Beer Market is segmented into regions such as Europe, North America, Asia Pacific and rest of the world (ROW) so as to have a bird’s view of the differential market equity. North American is anticipated to retain its traditional dominance and is expected to register a growth of 6.88 % CAGR. However the Latin American countries, offers ample opportunities for expansion and growth. We expect greater market development in Peru, Chile, Argentina and Venezuela. The European region is the second largest market led by the traditional beer manufacturing region of Germany. Germany is expected to be followed by France, Italy, and Belgium.
The Asia-Pacific region is expected be the fastest growing region in the craft beer market, with an expected CAGR growth of 7.40 %. Emerging economies of Thailand, China, India, and Vietnam are expected to lead the market. China dominates the market, followed by Thailand and India.
Type – ale, lager, stouts & porters and others. Ale dominates the market while lager beer is projected to grow at a highest CAGR.
Ingredients – malt and other cereal grain, yeast, enzymes, hops, and others. Malt dominates the present market, while hops is expected to be the highest growing segments