The global beer market size reached a value of US$ 623.20 Billion in 2020. The market value is projected to exceed US$ 727.5 Billion by 2026, expanding at a CAGR of 2.6% during 2021-2026. according to the latest report by IMARC Group.
Beer is a carbonated beverage that is prepared by fermenting malted barley with water and yeast. It is most commonly consumed as an alcoholic beverage due to its long fermentation period. Some other ingredients like fruits and herbs are added to the drink for additional flavor and fragrance. There are different commercially available varieties of beer, including ale, lager, stout, India pale ale, and porter. Moderate and measured beer consumption has been linked with reducing stress, and preventing weak bones, Alzheimer’s disease, type 2 diabetes, gallstones, and heart and circulatory system diseases.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Beer Market Trends:
The onset of the coronavirus disease (COVID-19) and the resulting imposition of regulations for lockdowns and social distancing in numerous countries have influenced on-premises consumption and sales of beer. On the contrary, this trend gave rise to the demand for home delivery services and to-go packs through online platforms. Additionally, the growing availability of craft and specialty beer brewed in exotic flavors, such as chocolate, honey, sweet potato, and ginger, is further driving the market growth. Alcohol-free and low-calorie beer is also gaining traction amongst the young population. Besides this, cross-cultural practices and the growing western influences are among the factors that are increasing the global sales of beer.
Competitive Landscape
Some of these players include
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Market Summary:
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