Due to its many formulas, flavors, and strengths, beer has a larger market share than other alcoholic beverages globally. As a result, the demand for unique flavored beer has recently been expanding tremendously worldwide.
It is another reason why it is also becoming a popular beverage among millennials and Gen Z. The development of innovative brewing techniques in other nations has also had a positive impact on beer sales.
According to a Statista report about 2020, the United States is the second most beer-producing country in the world, while China remains on top of the list.
Beer has always been a major component of American culture, even though ancient Chinese communities invented it.
It is so widely loved by Americans that even the prohibition of alcohol in 1920 could not reduce alcohol sales. However, their sales were pushed underground.
The beer industry has made tremendous sales by using different tactics in the past; e-commerce liquor sales are a significant market trend.
Here are a few interesting facts and figures about the beer market:
The Beer Industry is Vast
The first Beer, Kui, was invented in 7.000 BCE in ancient Chinese communities. Since then, it has become one of the most consumed alcoholic beverages in the world.
After beer production became commercialized, the beer industry saw a boom in sales as it became more easily accessible, improving the consumer experience.
Here is the size of the beer market in numbers:
- Even though you can classify every beer in the ale or lager category, this beverage has several subcategories. There are over 100 different types of beers in the world, differentiated by the type of grain and technique used for production.
- In 2022, the World Beer Cup was held, the biggest beer competition in the world. 2.493 breweries from 57 countries participated in this competition, showing the vast number of distilleries worldwide.
- Beer is known as the national drink of Belgium. This country is situated on the European beer belt, which makes this alcoholic beverage an essential part of their culture.
The Beer Market is Growing Rapidly
As mentioned above, the beer market is growing rapidly. Today, the beer industry has played a major role in stabilizing the economy of many countries.
Despite the business disruptions caused due to COVID-19, the beer industry continued to grow. In fact, some businesses experienced a boom in their sales during the pandemic.
- The global beer market is valued at $563,90 Billion in 2022, which can grow at a CAGR of 10,34% per year by 2025.
- China is the major producer of beer in the world. In 2020, China brewed 341,11 million hectoliters of beer and had sufficiently continued to grow the production.
- According to the Worldwide Brewing Alliance, The beer industry is so widespread that 1 in every 110 jobs in the world is directly or indirectly linked to the beer sector.
The Most Popular Beer
There are countless beer brands in the world producing alcoholic and non-alcoholic beers. With many large-scale and small breweries, there are various flavors and types of beers in the market.
However, some brands manage to steal the spotlight due to the balanced alcohol content in their beer.
The most popular beer brands in the world are:
- Budweiser is the world's most valued beer brand, worth $16,17 billion in 2021. The beers are referred to as the "Beers of the Kings."
- In China, the world's leading producer of quality beer, Snow Beer is the top brand of this beverage, with a 31,9% share of the Chinese beer market.
- Moreover, Yuengling is the oldest surviving brewery in America. It also survived the alcohol prohibition era because of its low alcoholic content. It is still one of the top-selling beer brands in the country.
Global Beer Consumption
People consume beer worldwide for recreational and ceremonial purposes. Since alcohol consumption is increasing, people have more beer than before with each passing day.
Here's how many people are consuming beer worldwide:
- Wine Market Council, NielsenIQ's 2022 Wine & Spirits Daily Summit, published a report which shows that 22% of the alcoholic beverage consumption among people is in the form of beer.
- Men are the major consumers of beer. More than 51% of men prefer beer to any other alcoholic beverage. It shows that women are less likely to consume beer.
- The average per capita beer consumption in the US is 81 to 182 liters. The difference in a number depends on the state.
The Rise in Craft Brewery
A craft brewery, also known as a microbrewery, produces small batches of beer to retain the quality. They are known for their enthusiasm for the beverage, introducing new flavors, and adapting to nearby cultures.
- Even though large-scale breweries dominate a large market share in 2022, the craft beer market is expected to experience a major boost in sales by 2025.
- In 2020, the craft beer market was valued at $95,23 billion and is expected to grow to a massive $210,78 billion by 2028. This industry thrived even during COVID-19 because of its constant innovation.
- Blue Moon was the top craft beer brand in the US to reach $400 million in sales in 2021. This brand is known for introducing classic Belgian-style beers to America.
- The Craft brewing industry is creating an influx of job opportunities. There has been an 8,3% increase in jobs created by these breweries. These job opportunities kept coming even during the pandemic.
- The average age of craft beer drinkers was calculated to be around 35 to 44 years old. It implies that craft beers are more common among mature adults due to their high price.
Conclusion
The beer market is growing rapidly, displaying space for further expansion and the introduction of new flavors. Moreover, customers are now seeking out new flavors, accelerating the market's expansion. As a result, the beer market has become so vast, keeping track of every brewery and recipe worldwide has become challenging.
