by Beer is an alcoholic beverage produced by the fermentation of grains like barley, wheat, or millet. Beer offers health benefits such as enhanced heart health and improved kidney function. The rising socializing trend has increased the consumption of beer globally. Moreover, brewers are adopting sustainable production practices like reducing carbon footprint and waste generation to meet rising sustainability standards.
The global Beer Market is estimated to be valued at US$ 946.21 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Major brewers are investing in renewable energy sources to power their facilities and reduce greenhouse gas emissions. They are also minimizing wastage during the production process and reusing wastewater. For instance, Budweiser Brewing Company APAC has set a target of achieving net zero carbon emissions by 2040. It utilizes renewable biogas to meet 35% of its energy demands and recycles wastewater. Such sustainable initiatives help companies lower costs and comply with regulatory norms. This focus on sustainability also appeals to environmentally conscious customers, driving market growth.
Segment Analysis
The global beer market is segmented on the basis of type into pale ale, stouts & porters, malt, and others. The others segment comprises of wheat beer, lambic beer, and berries & herbal beer. The pale ale segment dominates the market with around 30% share in 2024 owing to high preference for pale ale across regions, especially in North America. This segment is anticipated to continue its dominance during the forecast period.
Key Takeaways
The Global Beer Market Size is expected to witness high growth at a CAGR of 5.9% during the forecast period of 2024 to 2031. The market size is projected to increase from US$ 946.21 Mn in 2024 to US$ 1,425.75 Mn by 2031.
Regional analysis:
Europe dominated the global beer market in 2024 with 30% market share, followed by Asia Pacific. Europe is expected to continue its dominance during the forecast period, expanding at a CAGR of 5.4% on account of high beer consumption in countries like Germany, UK and Russia. However, Asia Pacific is anticipated to witness highest growth at 6.5% CAGR during the forecast period, driven by rising disposable income, expanding young population and growing social acceptance of beer consumption in countries like China and India.
Key players:
Key players operating in the beer market are B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., Ortho Regenerative Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED, and Smith+Nephew, CONMED Corporation. CONMED Corporation is a leading player with around 15% market share owing to its wide product portfolio and global sales network.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
