Craft breweries produce the small-scale amounts of beer, usually lesser than the large-scale corporate breweries and are independently owned. Brewery means the place where the beer is commercially made is called a brewery or beer house; the craft beers mainly fascinate the public attention owing to their quality, unique flavours and use of modern brewing techniques for their production. The large-scale growth of the craft beers is because of an increasing expansion of the breweries globally and also growing demand for hoppy beers is further boosting the growth of the craft beer market.
The sales of the craft beers have been continuously increasing with a higher scale of growth in the market, geographically the U.S. is having the higher number of the craft beer consumers because of the availability of a large number of flavours and the flavour revolution started to contribute the higher sales in worldwide. American brewing landscape starts to change in the late 1970’s, and the first brewpub was pioneered by the John Mitchell in the year 1982. Currently, the craft beers volume in the U.S. is approximately 18%, more than 6,300 breweries are operated, and many breweries are starting to establish in the coming future which will fuel the growth of the market.
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As per the Envision inteligence global craft beer market report, the craft beer market is valued at $113.12 billion in 2017, and it is witnessing to reach $471.88 billion by 2024. During the Craft beer market forecast period, the market is estimated to grow at a CAGR of 20.08%. The on-trade craft beer market share is accounted for over 45% in 2017 due to the high consumption of the craft beers in the hotels, restaurants and bars. Americas region is expected to have a significant share of the market followed by EMEA and APAC.
With an ongoing flavour revolution, Craft beer market scope is expected to increase with growing product portfolio. Increasing population of the youth with the addition of the female drinkers likely to have the craft beers is contributing to the growth of the craft beer market. As per the Envision inteligence craft beer market analysis, lighter craft beer styles are expected to show continuous growth during the forecast period.
The craft beer market overview is expected to change in the coming future as consumers keep on experimenting with the various flavours of the beer. Moreover, increasing focus towards the development of healthier alcoholic drinks and the development of the naturally sweetened beers will propel the growth of the craft beer market.
Craft Beer Market Trends and Recent Acquisitions:
- Growing demand for the hoppy beers is a significant factor in boosting the market growth
- In February 2017 – Heineken N.V. had announced the acquisition of largest beer producer Brazil Kirin Holding S.A
- In May 2017 – Anheuser-Busch InBev had acquired with Carolina-based Wicked
- Weed Brewing to increase the beer production.