Global Draught Beer Market size is estimated to reach 80.7 billion by 2027, growing at a CAGR of 4.7% during the forecast period 2022-2027. Draught beer is commonly delineated as draft beer, and rather than serving from bottles or cans, it is directly dispensed from pressurized containers with the help of an attached faucet. Almost entirely CO2 is taken into account to get the keg beer out through the keg coupler of the cask breather containers. The draught and bottled beer are made the same way. First malt grains are mashed and then introduced with hot water in order to activate the enzymes inside them. Following the preparation of malt extract, fermentation is used to confer drink its alcohol content where yeast is added to alter glucose in ethanol and carbon dioxide. Draught beers are proved too valuable in reducing cholesterol levels and rectifying kidney health if consumed in moderation. The global draught beer market outlook is remarkably attractive as the demand for flavorsome beverages with lower alcoholic content is multiplying. Broadening purchasing power and sweeping pub visits especially by younger generation are factors set to drive the growth of the Global Draught Beer Market for the period 2022-2027.
Global Draught Beer Market Segment Analysis-By Type
The Global Draught Beer Market based on the type can be further segmented into cask-conditioned beer/real ale, keg beer. The keg ale segment held the largest share in 2021. The growth is owing to widescale production due to uprising demand. The larger players in the market have had an acquisition spree. They have bought most of the smaller brewers who used to mass-produce traditional beers and are pushing kegs into establishments that are licensed to sell alcohol that is pubs. Moreover, the rising trend of nightlife among the millennial population is another driving factor in the growth of the respective segment. Nevertheless, the keg beer segment is estimated to be the fastest-growing segment with a CAGR of 4.9% over the forecast period 2022-2027. This growth is owing to its scrumptious nature. Unlike cask ale, keg beer is well-filtered, carbonized, and pasteurized which enhances its flavor. On another hand, the rising number of pubs throughout the globe have its fair share in driving keg beer demand as most of the pubs serves beer stowed in metal container or kegs.
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Global Draught Beer Market Segment Analysis-By Distribution Channel
The Global Draught Beer Market based on distribution channels can be further segmented into beer cafes, pubs and bars, hotels, and others. The pubs and bars segment held the largest share in 2021. These establishments are well-known for offering varieties and top-notch drinks. On another hand, pubs and bars have appeared as an inextricable part of millennials’ lives in western nations. With a heightening demand for quality drinks, pubs and bars are emerging as a money-spinning destination worldwide. Moreover, with proper marketing channels, happy hour strategies, and mixologists techniques these public houses generate cravings among people. Similarly, the pubs and bar segment is estimated to be the fastest-growing with a CAGR of 4.2% over the forecast period 2022-2027. This growth is owing to enlarging pub-going habits among the younger generation. The bars have become a contemporary medium to socialize with people as meaningful connections are lean-to evolve over a few drinks.
Global Draught Beer Market Segment Analysis-By Geography
The Beer Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Europe held the largest share with 31% of the overall market in 2021. The growth in this segment is owing to the factors such as the existence of an alcohol affectionate population in European countries. The Czech Republic is the biggest consumer of beers with 188.6 liters per capita consumption Similarly, many other nations like Spain, Ireland, Romania, Austria, and others have their per capita consumption rates near to 100 liters. Besides, due to developed economies people in these nations enjoys a high standard of living and increased demand for alcoholic beverages. However, Asia-Pacific is expected to be the fastest-growing segment with a CAGR of 5.1% over the forecast period 2022-2027. This growth is owing to growing disposable income in developing nations. Additionally, youngster favors beer more than other beverages and the Asian nations hold a vast percentage of the young age population which is stimulating the overall demand in the beer market. For instance, Hong Kong and Tokyo have emerged as one of the best destinations for the best nightlife throughout the globe.
Global Draught Beer Market Drivers
Heightening no. of breweries, pubs and bars is estimated to Boost Product Demand.
To tap the vicious potential of enlarging alcohol consumption throughout the global players in the respective markets have heightened their production activities by setting up more and more breweries to meet the swelling demand. According to a report, the total number of breweries in the US has reached over 9000 in 2021. Moreover, the vigorous nightlife of countries like Hong Kong, Japan, the US, the UK, and Spain is worthy for the eyes to gaze upon. Spain is world-famous for its nightlife as the country is home to some of the best pubs in the world. A report claimed that there are 169,063-night clubs in Spain as of 2022. Even though the number witnessed a slight decrease as compared to 2021 but is likely to escalate further in foreseeable future with the eradication of the COVID-19.
Upsurging per capita income with the growing affluence of nations is expected to Boost Product Demand.
With globalization, the world has become a global village where nations are interdependent. Therefore, as exports of countries are augmenting, so are their economies. Eventually, economic prosperity is heightening the overall living standards of people. For instance, omitting wealthy regions of the globe such as North America and Europe where most states have high per capita income, the Asia-pacific and several African countries are catching the attention of the world with their growing wealth and importance on the world stage. China recently bestowed with the “Richest Country” tag as its affluence has reached over $500 trillion. On another hand, China’s exported worth $3.36 trillion goods in 2021 despite the various setbacks of the pandemic. Therefore, the overall per capita income and living standards are enlarging day after day and casting votes in favor of the bright future of the respective market.
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Global Draught Beer Market Challenges
Crippled production activities, demand-supply chain, and health hitches accompanied by excessive beer use are anticipated to Hamper Market Growth.
Even though beers encompass lower alcohol by volume content the excessive usage of such drinks can set many health threats in motion. Over usage of such beverages can result in deterioration of liver tissue and eventually it results in liver failure which puts the patient on the edge of life. On another hand, continuous virus mutation has forced governments worldwide to reimpose the lockdowns which have hampered the production activities and demand-supply chain.
Global Draught Beer Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the market. Global Draught Beer top 10 companies include:
Heineken
Molson Coors
CR Beer
Kirin
United Breweries
Anheuser-Busch InBev
Asahi Breweries
CR beer
Carlsberg
Constellation Brands
Recent Developments
In October 2020, Copenhagen, Denmark-based well-known brewing company “Carlsberg Group” announced that it has successfully acquired Germany-based brewery “Wernesgruner.” The financials of the transaction were not revealed by the companies. However, the acquisition is anticipated to strengthen the overall product portfolio and position of Carlsberg in eastern Germany.
In October 2020, New York, United States-based famous beer producing company “Constellation Brands” publicized that company has successfully acquired full ownership in US-based brandy company “Copper & Kings” at an unrevealed price. The acquisition has put Constellation Brands in a better position to capture a big market share as the demand for crafted brandy is enlarging among consumers.
In May 2019, Heineken, a leading Dutch beer company based in Amsterdam, Netherland announced the acquisition of “Biela y Bebidas del Ecuador S.A” commonly known as “Beila Ecuador.” With this move, Heineken has set its foot in the profitable 6 million hectolitres beer market of Ecuador.
Key Takeaways
Geographically, the Europe Global Draught Beer Market accounted for the highest revenue share in 2021. Furthermore, Asia-pacific is poised to dominate the market over the period 2022-2027.
Flourishing demand due to savory nature is said to be the preeminent driver driving the growth of the Global Draught Beer Market. The rigorous government policies and health complications associated with excessive consumption are said to reduce market growth.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Draught Beer Market report.
Relevant Links:
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https://www.industryarc.com/Research/Alcohol-Ingredients-Market-Research-504444
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