According to a revised industry report by Fact.MR, revenue from the global craft beer market is projected to reach US$ 93.97 billion in 2024 and has been forecasted to increase at a CAGR of 7.2% from 2024 to 2034.

The market has been given a decent nudge due to the expanding craft beer tourism as more consumers look for unusual travel experiences that revolve around brewery visits. This trend involves travelers visiting various breweries, often attracted by the possibility of unique, local beer selections. Breweries take advantage of this by offering unique experiences such as tours, beer tastings, and special events, which increase their attractiveness and help people engage with craft beer culture on a deeper level. Craft beer tourism thus is contributing to market expansion by attracting a constant flow of tourists and enthusiasts ready to discover and savor the rich world of craft brewing.

Owing to the rising number of new craft breweries operating and customers’ increasing interest in trying out diverse tastes, the East Asia region is projected to hold a significant market share for craft beer. Because of their long history of producing beer, Western and Eastern Europe are attractive destinations for craft beer lovers. Craft beer is also becoming popular in countries such as the United Kingdom, Germany, and Belgium.

Key Takeaways from Market Study

• • • The global market for craft beer is projected to reach US$ 187.99 billion by 2034-end.
    • East Asia is set to hold 23.7% of the global market share in 2024.
    • The market in the United States is expected to generate revenue worth US$ 29.84 billion by 2034.
    • Revenue from the sales of stout craft beer is projected to reach US$ 34.89 billion by the end of 2034.
    • The market in Japan is projected to expand at a CAGR of 7.3% from 2024 to 2034.
    • The market in North America is forecasted to reach US$ 37.88 billion by the end of 2034.
    • Based on brewer, non-alcoholic craft beer is expected to hold 34.25% of the global market share in 2024.

“Leading craft beer producers are focusing on creating new flavors and types that appeal to a wide range of consumers and preferences. Social media is being effectively used by many businesses to run efficient marketing campaigns and draw in a wider audience,” says a Fact.MR analyst

Stout Craft Beer Gaining Popularity across the World

Stout craft beer is in higher demand than other varieties. Stouts are more popular because of their rich, complex flavors that include notes of coffee, chocolate, roasted malt, and other ingredients. Customers who like their beer strong and full-bodied are choosing this flavor depth. Additionally, stouts are available in a variety of types, including milk, imperial, and oatmeal stouts. Each style holds unique properties that appeal to a wide range of preferences.

Stout craft beer is seen as adaptable and goes well in various setting such as bars and restaurants. Many people enjoy this because its complements a variety of cuisines, including hearty meals and sweets.

Key Market Players Driving the Craft Beer Market

Key businesses driving the craft beer market include Anheuser-Busch InBev SA/NV; Heineken Holding N.V; Boston Beer Company Inc.; Molson Coors Brewing Co.; Duvel Moortgat NV; FIFCO USA; Bells Brewery Inc.; D.G Yuengling & Sons Inc.; Sierra Nevada Brewing Co.; Stone Brewing Co.; New Belgium Brewing Company; MillerCoors LLC; Mark Anthony Brands Inc.; Alaskan Brewing Company; Coca-Cola FEMSA; American Brew Crafts Pvt Ltd (ABCL); Best Day Brewing; uGeist Brewing Co

Industry News in the Craft Beer Market

Key craft beer players are innovating with new flavors and styles to cater to diverse consumer preferences. Many brands leverage social media for marketing, expanding their reach and engagement.

World of Brands (WoB) is strengthening its presence in Karnataka, India, by expanding manufacturing and partnering with a contract facility in Mudhol. In July 2024, uGeist Brewing Co., a leading South Indian craft beer brand, launched in Puducherry, bringing its six signature brews to a new audience. Best Day Brewing introduced Nature’s Pils, a limited-edition non-alcoholic beer in collaboration with The Conservation Alliance. Coca-Cola FEMSA also entered the Brazilian craft beer market by acquiring the Therezopolis brand.

Related Market Projections for 2034

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SOURCE: GlobeNewswire / FACT.MR (Press Release)
PHOTO CREDIT: FACT.MR