Hyderabad, India -- (SBWire) -- 02/23/2018 --The report " Global Craft Beer Market By Production (Amber Ale, Amber Lager, Indian Pale Ale And Others), By Segments (Brewpubs, Microbreweries, Regional Craft Breweries And Contract Brewing Companies), By Distribution (On-Trade And Off-Trade) And By Region (Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021))", The Global Craft Beer Market is calculated to be worth $ 271 billion by the end of 2021, with a CAGR of 21.3% from the 2016's value of 2016. Globally growing demand for new and innovative types of alcoholic beverages is expected to be the key driver behind the growth of the market.
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The IPA segment to be the top market share contributor to global market
The global market is categorized based on the style of production as amber ale, amber lager, IPA (Indian pale ale) and other styles. The increasing number of new alcohol brand in the market helps create a healthy competitive environment in the global market. Because of the widely diverse array of tastes in it, the Indian Pale Ale (IPA) segment contributed the biggest share to the global market in 2016.
By segments, regional craft breweries to have the fastest growth
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On the basis of classification by segments, the global Craft Beer Market is divided into brewpubs, microbreweries, regional craft breweries and contract breweries. The establishment of regional craft breweries is encouraged by the increased spending of customers on craft beer annually. In the forecast time period, the regional craft breweries are predicted to have the highest growth rate among all the segments.
By distribution, on-trade segment to have most growth by market share
According to classification by Distribution, the global market is categorized into On-trade and off-trade segments. Comparatively, the on-trade segment includes pubs, bars and such high-end distribution centre. This results in its high projected growth because of developed and rich countries. On the other hand, the off-trade segment is forecast to witness good growth in emerging and developing countries.
Europe to remain the top contributor to the global market share
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Geographically, the global market is examined in the following regions – North America, Latin America, Europe, Asia Pacific and the Middle East & Africa. Owing to the increasing preference toward flavoured beer over the conventional beer in the region, the Europe market possessed the biggest share in the global craft beer market. And, the Middle East & Africa portrays the highest predicted CAGR for the time period forecast.
The top market players in the Global Craft Beer market are Chimay Beers and Cheeses, Sierra Nevada Brewing Company, D.G. Yuengling and Son, The Boston Beer Company, The Gambrinus Company, Lagunitas Brewing Company and Stone & Wood Brewing Co.
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