NEW YORK, Sept. 15, 2021 /PRNewswire/ -- According to Research Report Published by Zion Market Research, the global beer market, which was estimated at approximately 551 (USD Billion) in 2019 and is predicted to accrue earnings worth nearly 780 USD Billion by 2026, is set to record a CAGR of nearly 6% over 2020-2026. The report offers valuation and analysis of Beer market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).
Beer is usually prepared through use of four basic constituents including malted cereal grains, yeast, hops, and water that undergo fermentation over a specific timespan. With reduction in alcoholic content of beer, there is going to be huge product demand as consumers prefer beer having low alcohol content. For instance, beer contains alcohol proportion ranging from 3% to 6% in terms of volume. While, alcohol-free beers possesses lesser than or equal to 0.5% of alcohol by volume. Apparently, modern industrial methods of producing beer have replaced conventional practices that have led to massive changes in the beer composition.
Swift urbanization along with altering customer trends will favorably leverage the market trends. Introduction of new technologies for improving yield and quality of the beer will proliferate the expansion of beer industry over the forecast timeline. Growing health concerns along with surge in the proportion of obesity and rise in the lifestyle-related disorders will propel the demand for light beer kinds. With beer forming a part of the culture in some of the western countries and beer festivals becoming social traditions, the market for beer is likely to accelerate over the forecasting period.
Furthermore, easy availability of beer at affordable costs will prop up the business growth over the forecast timeline. With consumers becoming more aware about the benefits derived due to beer intake, the market for beer is likely to witness an enlarged growth over the forecast timeline. Nevertheless, oscillating raw material costs along with huge import duties levied on beer will pose a challenge to the expansion of the beer industry over the ensuing timespan.
Asia Pacific Market to Expand At Swift Rate Over 2020-2026
The expansion of the industry in Asia Pacific over the forecast timeline is due to large-scale setting up of microbreweries in the countries of Asia. In addition to this, massive alcoholic drink intake along with beer consumption in countries like China and India will promulgate the market growth in the zone over the forecasting timespan.
Key participants leveraging the business landscape are Modelo, Anheuser-Busch InBev, Diageo, SABMiller, Heineken, Molson Coors, Carlsberg, Boston Beer, China Resources Enterprise, Tsingtao Brewery, Oettinger, and Yanjing Beer.
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