 |
 |
|
|
|
National & World Ag News Headlines |
 |
Craft Beer Market Worth $502.9 Billion by 2025
USAgNet - 03/29/2017
The global craft beer market is expected to reach $502.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth over the forecast period on account of the rising demand for low alcohol
by volume (ABV) and flavored beer.
The government in countries including Australia, New Zealand, Belgium, Mexico, China, and the UK are promoting the production of craft beer and incorporation of new breweries on account of the positive contribution of the industry towards economic
development and employment generation coupled with the willingness of the consumer to pay extra for better tasting brews.
Australia, Belgium, Germany, U.S. and New Zealand are the major craft beer producing countries with over 65% of the overall production in terms of value as well as volume. Belgian is the most preferred beer among the major craft beer consuming countries
owing to the premium quality, clean taste and rich flavor & aroma of the brews.
Furthermore, the number of brewers in the global market is growing significantly on account of the rising demand for the product. As a result, the demand for grains such as barley, wheat, yeast, sugar, and hops is increasing substantially. However, the alternative
applications of the raw materials are expected to lower the bargaining power of the brewers.
The demand for the pale ale, IPA, and amber ale is growing as these three craft products are widely preferred by the consumers owing to the balanced composition of the raw materials in the product including malt, hops, water, and yeast.
|
 |
|
 |
|
Copyright © 2024 - Farms.com. All Rights Reserved. |
 |
|
