Global Craft Beer Market 2018-2022
About this market
Rising population of millennials worldwide to drive market growth. Craft beer is becoming popular among millennials, as the enthusiasm to try out new variants and flavors is more among millennials as compared to other consumer segments. Technavio’s analysts have predicted that the craft beer market will register a CAGR of almost 12% by 2022.
New product launch
The successful new product launches will help in increasing the revenue flow and hence the market share of the players. New product launches will also help in keeping the interest of the players alive in the market.
High price of craft beer
Craft beer almost costs twice of that regular beer. This high cost of craft beer will deter the price-conscious consumers from purchasing the product, thereby affecting the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the craft beer market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Boston Beer, and New Belgium Brewing Company the competitive environment is quite intense. Factors such as the rising population of millennials worldwide and the new product launches, will provide considerable growth opportunities to craft beer manufactures. Anheuser-Busch InBev, D.G. Yuengling & Son, Duvel Moortgat, Boston Beer, and New Belgium Brewing Company are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Craft Beer Market 2018-2022
Technavio recognizes the following companies as the key players in the global craft beer market: Anheuser-Busch InBev, D.G. Yuengling & Son, Duvel Moortgat, Boston Beer, and New Belgium Brewing Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising population of millennials worldwide.”
According to the report, one of the major drivers for this market is the new product launches.
Further, the report states that one of the major factors hindering the growth of this market is the new product launches.
D.G. Yuengling & Son
New Belgium Brewing Company