Craft Beer Market Size, Share, Trends, And Forecast To 2032

Craft Beer Market: Size

The global craft beer market size was worth around USD 6.05 billion in 2023 and is predicted to grow to around USD 13.24 billion by 2032 with a compound annual growth rate (CAGR) of roughly 9.22% between 2024 and 2032.

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The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The report covers a forecast and an analysis of the craft beer market on a global and regional level.

Craft Beer Market: Overview

Craft beer is a beer type made by a brewer that is independent, small, and traditional. It is generally made by using traditional ingredients, such as malted barley and sometimes non-traditional ingredients are also added for distinctiveness. Craft beer has a majority of its beverage alcohol volume in beers whose flavors are derived from innovative or traditional brewing fermentation and ingredients.

Increasing consumer preference for low alcohol and premiumization aspect and its exotic flavor profile is expected to drive the global craft market in the future. However, strict government regulations regarding the sale of alcohol and higher taxes might impede the growth of the craft beer market on a global scale. Nevertheless, the increasing awareness of the wide range of styles and flavors of craft beer is likely to further fuel the global craft beer market in the years to come.

The study includes major drivers and restraints for the craft beer market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the craft beer market on a global level.

For providing the users of this report a comprehensive view of the craft beer, we have included product portfolio of the key vendors and a detailed competitive scenario. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The craft beer market report covers an in-depth study of global and regional market and market attractiveness analysis, wherein all the segments are benchmarked based on their growth rate, general attractiveness, and market size.

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Craft Beer Market: Segmentation

The study provides a decisive view of the craft beer market by segmenting the market based on type and distribution. The market is estimated from 2024 to 2032 and all the segments have been analyzed based on the future and present trends.

By type, the market includes specialty beers ales, Pilsners and pale lagers, and others. Ales held the largest market share in the year 2023, owing to the growing product popularity among the youngsters.

By distribution, the market includes on-trade and off-trade. On-trade distribution is referred to as selling or offering drinks in pubs, bars, restaurants, clubs, etc. The rapid growth of pubs and bars across the globe is anticipated to strengthen the growth of the craft beer market through on-trade distribution. Nevertheless, the high cost of craft beer through on-trade distribution than off-trade might create hindrances in the growth of the global craft beer market over the forecast period.

Craft Beer Market: Report Scope

Craft Beer Market: Regional Analysis

The regional segmentation includes the current and forecasted demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

By region, Europe is anticipated to account a major share of the global craft beer market in terms of both volume and value in the years ahead. Consumer preference for flavored brews coupled with large product consumption is anticipated to drive this region’s craft beer market growth within the forecast period. UK and Germany are the largest consumers of craft accounting for around 22% of the global revenue share. North America is estimated to exhibit significant growth in the market in the future, owing to the increasing preference for customers of craft beer over a mainstream beer. The U.S. is anticipated to hold a dominant market share of the North American craft beer market in the future. The Latin American craft beer market is anticipated to be the fastest growing region over the estimated timeframe, owing to the increasing penetration of craft beer in Mexico and Brazil. The wide range of flavors with Low Alcohol by volume (ABV) is estimated to be the major driving factor for the craft beer market in these countries. The Middle Eastern and African craft beer market is anticipated to show sluggish growth over the forecast period, owing to stringent regulations over the consumption of alcohol across Islamic countries.

Craft Beer Market: Competitive Analysis

Some key players of the global craft beer markets are The Gambrinus Company, The Lagunitas Brewing Company, D.G. Yuengling and Son, Anheuser-Busch InBev, New Belgium Brewing Company, The Boston Beer Company, Sierra Nevada, Stone & Wood Brewing Co., Sam Adams, and Bell's Brewery Inc.

This report segments the craft beer market as follows:

Craft Beer Market: Type

• Specialty Beers
• Ales
• Pilsners and Pale Lagers
• Others

Craft Beer Market: Distribution Analysis

• On-Trade
• Off-Trade

Craft Beer Market: Region Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa