Light Beer Market is Estimated to Expand at Significant CAGR Value From 2021-2027 | Allied Market Research
November 26, 2021
PORTLAND, OR, UNITED STATES, November 26, 2021 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Light Beer Market by Production (Macro-Brewery, Micro-Brewery, Craft Brewery, Chips, and Others), Package(Glass, PET Bottle, Metal Can, and Others), and Distribution Channel (Hypermarkets & Supermarket, On-Trade, Specialty Stores, Convenience Store, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027" According to the report, the global light beer industry generated $285.33 billion in 2019, and is expected to garner $338.83 billion by 2027, growing at a CAGR of 2.9% from 2021 to 2027.
Drivers, restraints, and opportunities-
Rise inyouth population and average number of female drinkers all across globe, change in consumer preference, and surge in number of on-premise distribution channels drive the growth of the global light beer market. However, volatile prices of raw materials and taxations and higher excise duties on imported as well as local beer hinder the market growth. On the other hand, development of naturally sweetened and healthier alcoholic drinks offer new opportunities in the coming years.
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Market players grabbing the largest pie
The craft brewery segment to maintain its leadership status throughout the forecast period-
Based on production, the craft brewery segment accounted for the highest market share in 2019, holding around one-third of the global light beer market, and is expected to maintain its leadership status throughout the forecast period. This is attributed to the growing consumer preference to craft beers. The transportation cost of liquid form is four times lower than that of the powdered form. However, the micro-brewery segment is estimated to witness the largest CAGR of 3.40% from 2021 to 2027. This is due to customers preference towards different flavored light beer and special ingredients added to the final product.
The PET bottles segment to maintain its dominant share during the forecast period-
Based on packaging, the PET bottles segment contributed to the highest share of the market, accounting for more than one-fourth of the global light beer market in 2019 and is projected to maintain its dominant share during the forecast period. This is due to its superior physical properties such as high design flexibility, lightweight, and recyclability. However, the glass segment would manifest the fastest CAGR of 3.30% from 2021 to 2027.Glass bottles offer transparency. In addition, it can be reused and recycled which drives the growth of the segment.
North America to rule the roost throughout the forecast period-
Based on region, North America held the highest market share based on revenue with nearly two-fifths of the global light beer market in 2019 and is expected to continue its highest contribution by 2027. This is attributed to social media and local events/promotions. However, Asia-Pacific is expected to portray the highest CAGR of 4.40% during the forecast period. This is due low reachability of the distribution channel in craft beer.
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The manufacturing activities have been massively affected due to lockdown. The disruption in supply chain management has resulted in shortage of raw materials.
In addition, the investments for future plans and other strategies have been put on hold as well.
The government bodies, however, have eased off certain regulations in order to manage economic benefits.
Beer is one of the most largely consumed alcoholic beverages in the world. Light beer market is prepared using malted cereals, hops, and water. Factors such as cultural changes and penetration of western culture have influenced consumers’ behavior and inclination toward light beer beverages. Light beer companies have recently introduced various flavors, targeting the female audience. Moreover, changing social lifestyle of the working class and growing disposable income, especially in developing Asian economies, have fueled the market growth.
Increase in young population and number of female drinkers directly drive the beer market. Female drinking is being accepted socially, as more number of females are getting at par with men both socially and professionally. Increase in disposable income of people allows them to consume high quality and premium beer and not just the traditional beer and rum. Increment in the number of restaurants and bars have resulted in greater consumption of these beverages, as people increasingly prefer on-premise drinking rather than off-premise drinking. Brewers and distributors across the globe strive to appeal millennials who are known for their binge drinking habits.
Key findings of the study
On the basis of production, the craft brewery segment was the highest contributor to the light beer market and is expected to grow at a CAGR of 2.30% from 2021 to 2027.
By package, the PET bottle segment led the market in terms of value in 2019 and is estimated to grow at a CAGR of 2.60% from 2021to 2027.
Depending on the distribution channel, the hypermarkets and supermarkets segment is expected to grow at a steady CAGR of 2.60% from 2021to 2027.
Region wise, North America is expected to grow at a steady CAGR of 1.90% from 2021to 2027.
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