Craft Beer Market Trends

Craft beer has been increasingly gaining a strong foothold in the market, with a rising number of independent microbreweries coming up to provide numerous products. The growing popularity of craft beer among consumers, especially the younger generation, is considered the major growth factor. Factors affecting the shift toward craft beer consumption are the demand for variety, higher disposable income, taste for flavor, and beer quality. There is a growing trend for low-alcohol by-volume beverages. Sales of no-alcohol and low-alcohol beers have also increased due to increased interest from health-conscious customers and a better selection of new varieties with superior taste. The growth of the craft beer market is inherently associated with the growth in consumer desire for variety.

Furthermore, shifting consumer demand toward variety and taste for flavor has led to the inclusion of microbreweries into the craft beer industry. By large, the active participation of macro-brewers is promoting the craft beer market. These new brewers have been driving the exports that first led to the stabilization and incremental growth in the craft beer industry. With more and more microbreweries participating, the market has been witnessing intense competition among these brewers in terms of product innovation and differentiation using flavors, packaging, price, and producing techniques. Thus, the rising number of microbreweries and small independent breweries has been a crucial factor driving the craft beer market growth globally.