The most popular alcoholic beverage worldwide is beer. The majority of the time, cereal grains like wheat, rice, and maize are used to make this beverage. Additionally, hops are used in the brewing process to give Beer Market flavor, stability, and bitterness. In place of hops, flavorings such as herbs, fruits, and gruit can also be used.
The popularity of beer
among consumers over other alcoholic beverages is credited with driving the
expansion of this market. The World Health Organization (WHO) estimates that in
2016, beer constituted about 36% of all alcohol consumption. This is also
ascribed to young people's heavy alcohol intake. To accommodate the growing
demand, key firms are concentrating on releasing new items.
The majority of the
world's nations have experienced fast urbanization and economic improvement. As
a result, people's discretionary income has increased generally. Additionally,
this has paved the way for a shift in consumer preferences away from
traditional beer and rum in developed countries like Europe and North America,
especially among young, aspirational drinkers. Additionally, because beer is a
widely consumed, produced, and sold alcoholic beverage around the world, young
people are drawn to it. Additionally, because of ongoing advancements in taste,
tastes, packaging, and other areas, the population is gradually moving toward
sophisticated, regulated, and luxury beverages.
Over
the past few years, there has been a noticeable increase in the number of
breweries. The demand for a variety of flavors is prevalent in the consumer
mindset as the number of customers who Beer
Market steadily
rises. Customers are constantly looking for new beer flavors to expand their
beer palates. Firms from nations including the Czech Republic, Mexico, Costa
Rica, Argentina, Chile, India, and Caribbean Countries are growing their
product portfolio to offer new items to consumers as a result of the market
has a large number of well-established global players. The Beer Market participants are concentrating on
partnering with or opening their own breweries in various foreign markets in
order to make their products available in those markets as the necessity for
more breweries is also expanding due to the growth of local players.
Key Players
Anheuser-Busch InBev,
Carlsberg Group, Beijing Enterprises Holdings Limited, The Boston Beer Company
Inc., Heineken N.V., Dogfish Head Brewery, Diageo Plc., Sierra Nevada Brewing
Co., Tsingtao Brewery Co. Ltd., Oettinger Brauerei, and The Molson Coors
Brewing Company are just a few of the major companies that compete in the
global beer market.
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