Published on : Jan 28, 2016
In recent times, the beer market has registered positive growth owing to the establishment of several local breweries. Other factors contributing to the high growth rate of the global beer market are social acceptance of beer as a drink, strong marketing strategies and various promotional activities initiated by the key manufacturers, rising disposable incomes, and rapidly growing beer-consuming population. The global beer market offers products such as imported beers, premium beers, light beers, popular beers, superpremium beers, malt liquors, ice beers, malternatives, and non-alcoholic beers. The emerging trend of consumption of craft beer is expected to drive the market.
Craft Beer Boosts Beer Industry in U.S.
According to a new report released by the Brewers Association, the trade group of craft beer in the U.S., the number of craft breweries in the country has increased significantly with production volume shooting up by 16%. The report has further mentioned that one out of every ten beers sold in America is produced by craft brewers. The craft beer industry is also helping farmers as the production of craft beer requires more malt compared to the mass production of bottled beer.
Beer Gets a New Competitor in Market
With recreational usage of marijuana legalized across four U.S. states, the regional beer industry is wary of the growth of legalized marijuana in the country. Cannabis is expected to replace beer as a healthier and safer alternative. Though the sale of marijuana has been significantly rising, it is nowhere close to the annual sales of beer. However, at the Beer Industry Summit organized in New Orleans on January 25th and 26th, discussions were majorly regarding the beer industry losing its share to marijuana. It will be interesting to see that how marijuana impacts the beer market in the U.S. in the near future.