Market Research Report
Global Premium Lager Market - 2019-2026
|Published by||DataM Intelligence||Product code||895807|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Premium Lager Market - 2019-2026|
|Published: August 1, 2019||Content info: 130-180 Pages||
The Global Premium Lager Market is expected to grow at a CAGR of 7% to reach a market value of USD XX million by 2026.
Lager is a type of beer conditioned at low temperatures. Lagers can be pale, amber, or dark. Pale lager is the most widely consumed and commercially available style of beer. Many premium lager vendors have gained high popularity among consumers because of its authentic taste. The adoption of the keg packaging and dispense format, especially by small producers, has been an important factor behind the increasing customer interest in the premium craft lager category.
The report covers all the major trends and drivers playing a vital role in the growth of the global market. The market has been segmented on the basis of region, product, and distribution channel.
The global Premium Lager Market is primarily driven due to the premiumization of products within the lager category is also driven by vendors' eagerness to rebrand their products as premium. Brewers operating worldwide are trying to push high-end products to lure consumers into spending more. The growth of alcoholic beverages such as premium Lager is driven by an increase in global young-adult demographic, the surge in disposable income, and a rise in consumer demand for premium/super-premium Lager. Also, new market strategies and creative packaging have been introduced by manufacturers. The growing number of specialist stores and shops worldwide has increased the accessibility and availability of premium lagers, which is one of the major drivers behind the growth of the premium lagers market over the last five years. The growth of the premium lager market is also supported by the frequent number of distribution deals between specialist retailers and vendors
However, the high cost of premium/super-premium products and escalation of nonalcoholic beverages market, owing to an increase in health concerns are expected to restrict the market growth shortly.
By Distribution channel, the global Premium Lager Market is segmented into on-trade and off-trade.
In 2018, the off-trade segment was accounted for the majority share and expected to increase significantly during the forecast period. The off-trade market includes all retail outlets like hypermarkets, supermarkets, convenience stores, mini markets, kiosks, wines & spirits shops, etc. Whereas, the on-trade market includes outlets like bars, restaurants, coffee shops, clubs, hotels, etc. However, countries like the US are witnessing a vast concentration of specialist beer stores in the country since the past few years. The Party Source, City Beer Store, and La Bodega are some of the significant specialist beer stores in the US that offers a wide range of premium craft and conventional lagers. The growth of the premium lager market is also supported by a large number of distribution deals between specialist retailers and vendors. Moreover, the rising number of specialist stores and shops globally has increased the accessibility and availability of premium lagers, which, in turn, drives the market.
By Product type, the global Premium Lager Market is segmented into Premium Conventional Lagers and Premium Craft Lagers. In 2018, Premium Conventional Lagers accounted for the significant share in the market. However, premium craft expected to grow at a significant pace due to a shift in consumer preferences and rising per capita income. Furthermore, improving brewing process technology, coupled with the usage of the finest quality of raw materials by manufacturers, has enhanced the overall characteristics of the product.
Major manufacturers are launching their products in developing countries, such as India, to gain a competitive edge in the market. For instance, in June 2018, Victory Brewing Company has introduced its standard lager beer in the Indian market.
By geography, the global Premium Lager market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, Europe accounted for the majority share in the global premium lager market. However, APAC is expected it is to post higher CAGR than other regions during the forecast period, due to the rising young population and the rise of a drinking culture at social gatherings coupled with increased disposable income among younger consumers in developing countries of APAC region such as China and India.
In Europe, flavored beer is one of the premium drinks in countries, including the U.K., Germany, and France. Furthermore, premium products, including lager, are attracting new consumers such as millennials and female drinkers in the countries mentioned above.
North America is anticipated to witness significant growth in the premium beer market owing to increasing demand for the low-calorie beer. Moreover, rising health concerns have compelled consumers to go for a light beer. Beer producers are launching new products to gain a competitive edge in the market. For instance, in October 2018, the U.S. based brewing company, Anheuser-Busch Companies, LLC has launched a new light lager under the brand name Wild Peak. This premium product contains 5.3g of carbohydrates and 93 calories in every 12oz can.
The growing demand for premium Lager is considered to be one of the primary drivers for this market. Efforts by manufacturers for strengthening distribution channels and extension of purchase channels, such as online stores, and convenience stores, is also contributing substantially to the growth of the global market.
Premium Lager market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab more number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Premium Lager.
To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Premium Lager. Merger, acquisition, and product development are key strategies adopted by leading players - for instance, the creation of strategic alliances with all the stakeholders in the value chain.
The major players include Heineken N.V., Anheuser-Busch InBev, Asahi Group Holdings Ltd., Carlsberg Breweries A/S, and Constellation Brands Inc. Other prominent players in the market are Snow Beer, Kirin, Boon Rawd Brewery, Diageo plc, and BREWDOG.