Food and Beverages

Beer Market

Global Industry Analysis and Forecast 2024-2031

Pages : 120

Base Year : 2023

Released Year : February 2024

Format :Pdf Ppt Xls

Report ID:KR487

Author : Siddhi J.

Snapshot Icons

Base Year


Snapshot Icons

Forecast Year


Snapshot Icons

Historical Years


Snapshot Icons

Market Value (2023)

USD 644.74 Billion

Snapshot Icons

Forecasted Value (2031)

USD 988.56 Billion

Snapshot Icons

CAGR (2024 - 2031)


Snapshot Icons

Fastest Growing Region (2024 - 2031)

Asia Pacific

Snapshot Icons

Largest Region

Asia Pacific

Snapshot Icons

By Type

Ale, Lager, Hybrid, Others

Snapshot Icons

By Packaging

Can, Bottle

Snapshot Icons

By Brewery Type

Micro Brewery, Macro Brewery, Craft Brewery

Snapshot Icons

By Flavor

Flavored, Unflavored

Snapshot Icons

By Distribution Channel

Convenience Stores, Liquor Stores, Supermarkets, Restaurants & Bars, Online Stores

Market Perspective

The global Beer Market was valued at USD 644.74 billion in 2023 and is projected to reach USD 988.56 billion by 2031, growing at a CAGR of 5.56% from 2024 to 2031.

The global beer market has been experiencing moderate growth in recent times, driven by several factors such as changing consumer preferences, rising disposable incomes, and the growing popularity of craft and premium beers. In addition, the increasing number of breweries and microbreweries around the world has contributed to the growth of the craft beer sector. With consumers increasingly seeking unique and flavorful beers, small independent breweries have thrived by offering a wide variety of styles and flavors that cater to specific tastes and preferences. This has created a vibrant and competitive market, with craft beer sales steadily increasing and accounting for a larger share of the overall beer market.

Furthermore, the expanding global tourism industry has led to an increased demand for local and regional beers, as consumers seek authentic and unique experiences. As a result, craft breweries have become increasingly popular destinations for beer enthusiasts and tourists looking to sample and support local flavors. This has not only helped boost the sales of craft beer, but has also contributed to the economic growth of the communities where these breweries are located. Additionally, the success of the craft beer industry has inspired several home brewers to turn their passion into a business, thereby fueling the growth and innovation within the industry. Overall, the craft beer industry shows no signs of slowing down and continues to be a booming sector in the beverage market. Overall, the future of the global beer market looks promising, with innovative flavors and brewing techniques continuously emerging to cater to the evolving tastes of beer enthusiasts.

Analyst’s Review on Beer Market

The rise of e-commerce has facilitated direct-to-consumer sales, thereby allowing breweries to reach a broader audience. Online platforms and beer subscription services have gained popularity, providing consumers with convenient access to a variety of products.  Furthermore, the convenience of online purchasing has significantly simplified the beer buying process, making it easier for consumers to discover new and exciting brews from the comfort of their own homes. Moreover, in addition to traditional retail, breweries are exploring alternative distribution channels, such as taprooms, brewpubs, and festivals. These avenues provide direct interactions with consumers and opportunities to showcase a brand's story and values.

Market Definition

Beer, a well-known alcoholic beverage, is created by fermenting malted barley or other grains. Its primary ingredients include water, malted barley (or other grains), hops, and yeast. The process of brewing entails malt production, the extraction of sugars through mashing, boiling the resulting mixture with hops to enhance flavor and aroma, fermentation with yeast for alcohol production, and the final conditioning before packaging. The world of beer encompasses numerous styles and types, each offering distinct flavors, aromas, and appearances influenced by ingredient choices, brewing methods, and fermentation conditions.

A variety of popular beer styles includes lagers, ales, stouts, and IPAs. Lagers are characterized by their crisp and clean taste, while ales tend to have a fruity and robust profile. Stouts, on the other hand, are known for their dark and rich properties, often featuring hints of coffee or chocolate. IPAs stand out for their hop-forward nature and pronounced bitterness. In terms of visual appeal, beer can vary in color from pale yellow to deep amber or even black, depending on the malt utilized. Overall, the vast array of beer styles ensures a diverse and enjoyable drinking experience for aficionados of this delightful beverage.

Market Dynamics

Consumers are willing to pay more for high-quality, premium beers. This trend has led to an increased focus on specialty and premium beer offerings by both large and small breweries. As a result, breweries have started experimenting with unique flavors and ingredients to create a wide range of craft beers. They have further invested in improving the brewing process and using top-notch ingredients to ensure the highest quality.

Additionally, breweries are providing educational experiences and tastings to enlighten consumers about the craftsmanship and complexity behind their premium beers, thereby enhancing their appeal. For instance, a small brewery might create a craft beer infused with local ingredients such as lavender and honey, giving it a distinct and unique flavor profile. They may also collaborate with local coffee roasters to create a coffee-infused stout, showcasing the versatility of flavors that can be achieved in craft beer. The brewery could then host tasting events where consumers can learn about the brewing process and taste these specialty beers, thereby enhancing their appreciation for the craftsmanship and complexity involved in their production.

Beer faces competition from other alcoholic beverages, such as wine and spirits. Changes in consumer preferences and the emergence of alternative beverages can impact beer consumption. For instance, the growing popularity of craft beer has attracted a new subset of consumers who appreciate the variety and unique flavors it offers. Additionally, health-conscious individuals are increasingly opting for lower-alcohol or non-alcoholic alternatives, such as hard seltzers or kombucha, which can reduce beer consumption. As a result, breweries are diversifying their offerings to cater to these changing preferences and ensure their continued relevance in the ever-evolving beverage market.

Segmentation Analysis

The global beer market is segmented based on type, packaging, brewery type, flavor, distribution channel, and geography.

By type it is bifurcated into ale, lager, hybrid and others. The lager segment held the lion's share of 41.25% in 2023. This growth is mainly driven by the increasing popularity of light and refreshing lagers among consumers. Additionally, the rise in disposable income and changing consumer preferences toward low-alcohol content beers have contributed to the dominance of the lager segment in the beer market. With the introduction of innovative flavors and craft lagers, the lager segment is expected to continue to hold a significant revenue share in the forthcoming years.

By packaging it is bifurcated into can & bottle. The bottle segment registered a significant revenue share of 60.89% in 2023. This growth is primarily fueled by the convenience and durability of bottles, which consumers prefer for their ability to preserve the freshness and taste of beer. Additionally, the bottles come in  a wide variety of sizes and styles, catering to different consumer preferences and occasions. With the increasing popularity of craft beers and the rising demand for premium and specialty beers, the bottle segment is expected to continue its dominance in the beer market in the coming years.

By brewery type it is bifurcated into micro brewery, macro brewery & craft brewery. The craft brewery segment is anticipated to grow at a CAGR of 6.21% over the forecast period, majorly fueled by the increasing popularity of craft beer among consumers who are seeking unique and flavorful options. Craft breweries are known for their emphasis on quality, innovation, and supporting local economies. With a wide range of styles and flavors available, craft breweries are continuously expanding their offerings to cater to diverse consumer preferences. As a result, the craft brewery segment is expected to witness significant growth in the beer market through the projected period.

Geographical Analysis

Based on region, the global beer market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Beer Market Size & Share, By Region, 2024-2031

Asia-Pacific held the largest beer market share of 35.65% in 2023. This regional market growth is primarily backed by several factors such as the rising population, increasing disposable income, and changing consumer preferences towards alcoholic beverages. Additionally, the expansion of international beer brands into the Asian market and the growing popularity of beer festivals and events have contributed to the projected growth of the beer market in the region. With the combination of these factors, Asia-Pacific is expected to become a key region in the global beer market over the review timeline.

Furthermore, rapid  urbanization and modernization in countries such as China and India have led to a shift in drinking patterns, with a greater acceptance and consumption of beer among the younger population. The rise of a vibrant nightlife culture and the influence of Western lifestyles have further played a significant role in driving the demand for beer in the region. Moreover, the growing tourism industry in countries such as Thailand, Japan, and South Korea has fueled the demand for beer, as tourists seek to experience local food and beverages. As a result, both domestic and international breweries are investing heavily in expanding their production capacities and distribution networks in Asia-Pacific to cater to the surging demand.

Competitive Landscape

The global beer market study report will provide valuable insight with an emphasis on the fragmented nature of the sector. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.

The major players in the Beer Market are:

  • Carlsberg Group
  • Anheuser-Busch InBev
  • Heineken N.V.
  • New Belgium Brewing Company
  • Tsingtao Brewery Co. Ltd.
  • Molson Coors Beverage Company
  • Boston Beer Company
  • Constellation Brands Inc.
  • Stone Brewing
  • Sapporo Breweries Ltd

Key Developments

  • October 2023 (Partnership) - Carlsberg and Marston's Brewing Company (CMBC) entered into a new ten-year partnership with Stonegate Group, the largest pub company in the UK. This partnership aims to expand the availability of CMBC's premium beer brands, such as Brooklyn Pilsner and Birrificio Angelo Poretti, throughout Stonegate's pub estate.
  • September 2023 (Partnership) - Molson Coors Beverage Company announced a strategic move to enhance its collaboration with ZOA Energy, a prominent energy drink brand. By expanding its partnership with ZOA, Molson Coors is reinforcing its commitment to transforming from a beer-centric organization to a versatile and comprehensive beverage company, a decision that was initially set into motion in 2019.

The global Beer Market is segmented as:

By Type

  • Ale
  • Lager
  • Hybrid
  • Others

By Packaging

  • Can
  • Bottle

By Brewery Type

  • Micro Brewery
  • Macro Brewery
  • Craft Brewery

By Flavor

  • Flavored
  • Unflavored

By Distribution Channel

  • Convenience Stores
  • Liquor Stores
  • Supermarkets
  • Restaurants & Bars
  • Online Stores

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America.
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global beer market is projected to reach USD 988.56 billion by 2031, growing at a CAGR of 5.56% from 2024 to 2031.
The global beer market was valued at USD 644.74 billion in 2023.
Consumers' willingness to pay more for high-quality and premium beer varieties, popularity of craft breweries and the demand for unique, locally-produced, and artisanal beers are the key factors driving the market growth in the beer industry.
Top manufacturers of the beer market are Carlsberg Group, Anheuser-Busch InBev, Heineken N.V., New Belgium Brewing Company, Tsingtao Brewery Co., Ltd., Molson Coors Beverage Company, Boston Beer Company, Constellation Brands, Inc., Stone Brewing, Sapporo Breweries Ltd. among others.
APAC is the fastest growing region with a CAGR of 6.46% in the forecasted period (2024-2031).
By packaging type, bottle segment will hold the maximum share in the beer market with a revenue value of USD 573.21 billion in 2031.
Get the latest!

Get actionable strategies to empower your business and market domination

  • Deliver Revenue Impact
  • Demand Supply Patterns
  • Market Estimation
  • Real-Time Insights
  • Market Intelligence
  • Lucrative Growth Opportunities
  • Micro & Macro Economic Factors
  • Futuristic Market Solutions
  • Revenue-Driven Results
  • Innovative Thought Leadership