Craft Beer Market During 2020-2024: North America to Dominate Market Growth

The craft beer market share is expected to grow up to USD 47.79 billion, accelerating at a CAGR of 12.6% during the forecast period. The increasing popularity of craft beer in developing countries is notably driving the craft beer market growth, although the high price of craft beer may impede the market share. Technavio's craft beer market report offers an in-depth analysis of the market with respect to different geographical segments. It also provides a detailed analysis of all the trends, drivers, and challenges that will impact the market during the forecast period.

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Craft Beer Market: North America to lead market growth during the forecast period

• The craft beer market is segmented by Product (India pale ale, Seasonal craft beer, Pale ale, Amber ale, and Other craft beer) and Geography (North America, Europe, APAC, South America, and MEA).
• The rising population of millennials worldwide is one of the major craft beer market trends supporting the craft beer market growth.
• Based on the product segmentation, the craft beer market share in the India pale ale segment will be significant during the forecast period.
• The rising number of microbreweries will facilitate the craft beer market growth in North America over the forecast period.
• By geography, 53% of the market growth will originate from North America. US and Canada are the key markets for craft beer in North America. Market growth in this region will be faster than the growth of the market in the European and MEA regions.
• The craft beer report provides an accurate prediction of the contribution of all the geographic segments to the growth of the craft beer market.

Craft Beer Market: Vendor Landscape

Technavio has identified key vendors operating in the market. Anheuser-Busch InBev SA/NV, Asahi Group Holdings Ltd., Carlsberg Breweries AS, D.G. Yuengling & Son Inc., Diageo Plc, Duvel Moortgat NV, Heineken NV, Kirin Holdings Company Ltd., New Belgium Brewing Co., and The Boston Beer Co. Inc. are some of the major crafts beer market vendors. The key offerings of some of these vendors are:

Anheuser-Busch InBev SA/NV: The company offers craft beer such as Goose Island, 4 Pines, Aicha, and more.
Asahi Group Holdings Ltd.: The company offers craft beer such as Cricketers Arms, Mountain Goat, Peroni, and more.
Carlsberg Breweries AS: The company offers craft beer such as Grimbergen Rouge, Frydenlund Pale Ale, and more.

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The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market will accelerate at a CAGR of 12.6%.
    
2. What is the incremental growth of the market?
   The market is expected to grow up to USD 47.49 billion.
    
3. What is a key factor driving this market?
   The increasing popularity of craft beer in developing countries will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   53% growth will originate from North America
    
6. Who are the leading market vendors?
   The leading vendors in this market are Anheuser-Busch InBev SA/NV, Asahi Group Holdings Ltd., Carlsberg Breweries AS, D.G. Yuengling & Son Inc., Diageo Plc, Duvel Moortgat NV, Heineken NV, Kirin Holdings Company Ltd., New Belgium Brewing Co., and The Boston Beer Co. Inc.
    
7. What are the market segments covered in this report?
   The market is segmented by Product (India pale ale, Seasonal craft beer, Pale ale, Amber ale, and Other craft beer) and Geography (North America, Europe, APAC, South America, and MEA).