FELTON, Calif., April 20, 2021 /PRNewswire/ -- The global beer dispenser market size is expected to reach USD 392.0 million by 2028, registering a compound annual growth rate (CAGR) of 3.6% over the forecast period, according to a new report by Million Insights.
What are Key Factors Driving the Beer Dispenser Market?
The increasing product adoption among beer drinkers in countries such as the U.S., Germany, and the U.K.is expected to remain a favorable factor for the growth of the industry. Furthermore, the COVID-19 pandemic has resulted in encouraging the beer drinkers to shift from bars & clubs and hotels & restaurants to their household which is expected to expand the scope of these dispensers over the next few years.
The triple faucet segment is projected to register a CAGR of 4.7% from 2021 to 2028. Extensive product development in terms of trying numerous ways to dispense different types of beer from a single dispensing system at the same time is expected to expand the scope of growth for this segment over the forecast period.
Asia Pacific accounted for the largest revenue share exceeding 44% in 2020. As per the World Health Organization (WHO), Asia Pacific registered the highest growth in drinking among adults in the countries such as the Philippines and Vietnam, with the growth rate of beer consumption 8.8% and 7.1% respectively, with the consumption mainly witnessed among the adults.
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Over the past few years, the industry participants have been increasingly spending on maintaining their brand image and gaining customer loyalty by upgrading their product offerings. The companies are offering various products in different sizes, faucet types, and designs. These initiatives by manufacturers are expected to play a key role in promoting the growth of premium beer dispensers over the next few years.
Key Questions Answered in the Report:
Which Region to Account Fastest Growth Rate?
Asia Pacific is projected to register the fastest CAGR of 3.9% from 2021 to 2028 on account of the increasing adoption of the product among the millennials in countries including China and India.
Which Segment of the Beer Dispenser Market to Register Fastest Growth Rate?
The triple faucet segment is expected to foresee the fastest CAGR of 4.7% from 2021 to 2028. This product segment is expected to gain popularity as they can deliver multiple types of beer from a single-dispensing system.
Which Segment of the Beer Dispenser to Hold the Highest Market Share?
The bars and club accounted for the largest revenue share of more than 43% in 2020. The high preference of millennials to drink alcoholic drinks in bars and clubs as they provide the liberty of enjoyment is expected to keep the dominance of the segment.
Browse 85 page research report with TOC on "Global Beer Dispenser Market" at: https://www.millioninsights.com/industry-reports/global-beer-dispenser-market
Million Insights has segmented the global beer dispenser market based on product, application, and region:
- Beer Dispenser Product Outlook (Revenue, USD Million, 2017 - 2028)
- Single Faucet
- Double Faucet
- Triple Faucet
- Beer Dispenser Application Outlook (Revenue, USD Million, 2017 - 2028)
- Bars & Clubs
- Hotels & Restaurants
- Beer Dispenser Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- List of Key Players of Beer Dispenser Market
- Beerjet GmbH
- Beverage-Air Corp.
- Celli Spa
- Felix Storch Inc.
- Micro Matic USA Inc.
- True Manufacturing Co. Inc.
- TURBO AIR Inc.
- Continental Refrigerator
- Fagor Industrial S. Coop
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