Market Research Report
Global Premium Beer Market (On-Trade & Off-Trade) Report: Insights, Trends and Forecast (2020-2024)
|Published by||Koncept Analytics||Product code||926925|
|Published||Content info||91 Pages
Delivery time: 1-2 business days
|Global Premium Beer Market (On-Trade & Off-Trade) Report: Insights, Trends and Forecast (2020-2024)|
|Published: February 27, 2020||Content info: 91 Pages||
The global premium beer market value is forecasted to reach US$55.86 billion in 2024, growing at a CAGR of 4.2%, for the period spanning from 2019 to 2024. The factors such as booming travel and tourism industry, accelerating economic growth, rapid urbanization, growing online liquor sales, rising bar and cafe outlets, growing influence of western culture in developing economies and peer influence on youngsters are expected to drive the market. However, growth of the industry would be challenged by rising demand for fruit juices, seasonality, retail consolidations and high competitive pressure. A few notable trends include growing craft beer consumption, increasing adoption of automated brewing machines and rising low-alcohol volume beverages demand in developed countries.
There are two key premium beer distribution channels i.e. on-trade/on-premise (On-trade premium beer distribution channels are bars, restaurants, clubs, hotels, etc. Product sales strategy varies with type of beer product including tastings, gifts offerings, competitions, price reductions and free drinks offerings) and off-trade/off-premise (The off-trade premium beer distribution channels includes retail outlets i.e. hypermarkets, supermarkets, convenience stores, wines & spirits shops, mini-markets, kiosks etc.)
The fastest growing regional market is Europe due to rising demand for craft beer in Germany and France, increasing penetration of online high-end beer delivering companies in the U.K. and growing adoption of multiple sales channels by domestic manufacturers.