Manufacturing of High Quality Beer Drives Beer Industry Growth

02/dic/2019 11:20:25 Grand View Research Contatta l'autore

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beer market

According to a report by Grand View Research Inc., the global beer market was at a valuation of USD 485.2 billion in 2014 and is anticipated witness high growth rate in the forecast period. Rising consumer disposable income, manufacturing of high-quality beer, and increasing global populace are the major factors for the industry growth. Changing lifestyle of population across the globe is one of the foremost factors that is expected to propel the demand for beers in the years to come.

Recently, drinking in house or at bars during celebrations has become a part of the sociocultural environment. The approach toward alcohol is changing, particularly among the young age group, as drinking culture becomes more prevalent. These factors are propelling the demand for more quality beers in the market thus boosting the growth.

Furthermore, with a growing number of outlets and bars, beer is becoming extensively available. With a constant increase in customers and rising consumer demand, the beer industry is expected to grow at a continuous rate over the forecast period.

Promotional activities and creative marketing are also playing a major role in the growth of the market. Recently, alcohol firms have been capitalizing strongly in promotions and advertising to increase their market position. For example, Heineken N.V. sponsored the UEFA Champions League in 2018 whereas Carlsberg Breweries A/S sponsored UEFA Euro in 2016.

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There is an enormous opportunity for manufacturers to boost their sales revenue by appealing to the female customers. The companies have not yet successfully advertised the products especially for females. On account of increased proportion of working women and fast acceptance of western culture in the last few years, beer consumption by females has significantly improved.

Consequently, women are considered to be one of the foremost customers of beers in the coming years and thus pose a huge opportunity for the beer industry in the forecast period. Japanese Craft Beer introduced an advertising drive named "Drink in a New Language" in the U.S. With this drive, 22 Japanese craft beer manufacturers requested Americans to learn craft brewing procedures and exclusive flavor profiles of Japanese craft beer.

Asia Pacific is estimated to witness a high development in the demand in the forecast period. Developing economies in the region, such as China and India, are the major contributors to the regional market growth. Furthermore, Singapore and South Korea are also anticipated to contribute significantly to the development of the industry.

Improving financial circumstances and rising acceptance of western lifestyle are anticipated to drive the growth of the market in the forecast period. Consumption of the product is high among the corporate employees and is preferred over other alcoholic beverages. This is one of the major factors for the increased consumption and subsequent growth of the market in the region.

Some of the key players effective in the beer market are SABMiller, AB InBev, Heineken, Carlsberg, Snow Breweries, Pabst Brewing Co., Molson Coors Brewing Company, Tsingtao Brewing Co. Ltd., Asahi Breweries, Kiring Holdings, and Beijing Yanjing Brewery Co.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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