APAC Craft Beer Market Share, Trends, Revenue, Growth Drivers, CAGR Status, Key Players, Challenges and Future Investment Strategies Till 2033


APAC Craft Beer Market Share, Trends, Revenue, Growth Drivers, CAGR Status, Key Players, Challenges and Future Investment Strategies Till 2033: SPER Market Research

 Category : Food & Beverages

 Published: Jan-2024
 Author: SPER Analyst

Asia-Pacific Craft Beer Market is projected to be worth USD XX Billion by 2033 with a CAGR of 12.2%.

Independently owned, craft brewers, often known as microbreweries, typically produce less beer than large corporate breweries. Most of these breweries have certifications related to flavour, quality, and production methods. While the brewage industry reached its pinnacle in developed nations, sales of the beverage have started to rise globally due to the flavour revolution, which is evident in the range of craft brewage available. Because consumers frequently experiment with the different market tastes of beers, craft beer has maintained its excellence.

Asia-Pacific Craft Beer Market Driving Factors and Challenges

In the Asia-Pacific region, the surge in beer imports is attributed to increasing disposable income, with consumers preferring beer over other alcoholic beverages. Social shifts and the adoption of Western culture have significantly shaped consumer perceptions, particularly towards beer. The introduction of gluten-free, low-calorie, low-alcohol, and non-flavored beers is anticipated to propel the growth of the APAC craft beer market. Consumers are increasingly opting for gluten-free beers made from millet, barley malt, rye, corn, potatoes, rice, soybean, and sorghum. This shift, coupled with advancements in flavor and brewing techniques, is expected to drive the APAC market. In emerging economies like India and China, the emergence of craft beers and breweries is a key driver, particularly for low-alcohol and flavored beers. While the APAC craft beer market is nascent, consumer willingness to invest in innovative drinks is bolstering its growth, with craft beer currently commanding a 5% share of the overall market. The increasing number of breweries across the region further supports the flourishing Asia Pacific craft beer industry.

On the other hand, the difficulties in finding craft brewers and rising prices and taxes on the cost of goods are what are preventing the industry from growing. Craft beer is more expensive than industrial beer, which affects how quickly it is growing. Strict laws governing the sale of alcohol and tax hikes, however, might also be obstacles to the expansion of the craft beer industry in Asia Pacific. One major challenge facing the Asia Pacific market is the risk connected with wine and other mixed drinks.

Impact of COVID-19 on Asia-Pacific Craft Beer Market
The COVID-19 epidemic caused manufacturing, distribution, and sales interruptions in the craft beer business in Asia-Pacific. Restrictions and lockdowns on hospitality facilities caused a drop in on-premise consumption, which in turn affected income. But as customers moved to off-premise channels, the sector proved resilient. The pandemic affected consumer behaviour by accelerating developments in digital and e-commerce. With changing consumer tastes, the craft beer sector in the Asia-Pacific area is steadily rebounding despite early losses.

Asia-Pacific Craft Beer Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Anheuser-Busch InBev, D.G. Yuengling & Son, Inc., Feral Brewing Co., Heineken International B.V., Himalayan Ales Private Limited, Kiuchi Brewery Inc. (Hitachino Nest Beer), RedDot BrewHouse Pte Ltd., The Boston Beer Company Inc., The Brewerkz Company, and Young Master Brewery, Others.

Asia-Pacific Craft Beer Market Segmentation:

By Type: Based on the Type, Asia-Pacific Craft Beer Market is segmented as; Ales, Pilsners and Pale Lagers, Specialty Beers, Others.

By Distribution Channel: Based on the Distribution Channel, Asia-Pacific Craft Beer Market is segmented as; On-Trade, Off-Trade (Online Retail Channels, Offline Retail Channels).

By Region: This research also includes data for China, Japan, India, Australia, Rest of Asia-Pacific.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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