LONDON--(BUSINESS WIRE)--The global craft beer market is expected to post a CAGR of close to 12% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the new product launches. Successful new product launches will help in increasing the revenue flow and hence the market share of the players. New product launches will also help in keeping alive the interest consumers. For instance, in April 2018, Ithaca Beer Co, launched a new beer, Brew York, and it uses nearly 70 percent New York-grown barley and 100% New York hops. The beer is claimed to be New York state's first commercially produced beer made with predominantly New York-grown ingredients. Hence, such product innovations are expected to boost the growth of the market during the forecast period.
This market research report on the global craft beer market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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In this report, Technavio highlights the increasing exports of craft beer as one of the key emerging trends in the global craft beer market:
Global craft beer market: Increasing exports of craft beer
The increasing export of craft beer is another trend that will influence the growth of the global craft beer market during the forecast period. The demand for American craft beer is increasing among consumers in Europe and APAC, and it is one of the major reasons behind the increase in the demand for craft beers in both the regions. Craft beer products face successful competition with other alcoholic products in European countries, and the demand for exotic, rare, and innovative flavors of craft beer has increased. The domestic production of craft beer is not able to meet the rising demand for craft beer in various European countries and hence they depend on the imported craft beer products to meet the growing demand. The leading importers of the US craft beer in 2017 were Canada, the UK, Sweden, Australia, and China. The increasing export of craft beer products to meet the growing demand for craft beer among consumers will help in the growth of the global craft beer market during the forecast period.
“Another growth driver of the global craft beer market is the increasing number of mergers and acquisitions in the market. Bigger players in the market are acquiring smaller players to gain access to new products and also to increase their market share. Strategic mergers and acquisitions also allow players to gain access to new technologies at a relatively lower cost, in turn driving the growth of the global craft beer largely,” says a senior analyst at Technavio.
Global craft beer market: Segmentation analysis
This market research report segments the global craft beer market by product (IPA, seasonal craft beer, pale ale, amber ale, and others) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share close to 66%, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth of over 3%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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