The global Premium Lager Market size is expected to reach USD 219.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% over the forecast period. Growing demand for authentic beer on account of the health benefits related to cardiovascular issues, kidney problems, mental stress, and anxiety issues is expected to have a positive impact on the market growth. In addition, increasing disposable income and adoption of western culture among middle class income groups of developing economies including China and India are expected to remain favorable factors over the forecast period.
Asia Pacific is expected to witness the fastest growth over
the next few years as a result of increasing demand from working class
professionals in key countries including China and India. As of 2018, China had
a millennial population of more than 400 million, which is high as compared to
U.S. and Western Europe. Therefore, consumers are expected to increase leisure
spending including, visiting the restaurants and pubs. This trend is expected
to increase the consumption of products including premium lager over the next
few years.
On-trade channels are expected to reach a value of more than
USD 135 million by the end of 2025. Over the past few years, companies
including B-Dubs and The Bar Stock Exchange are coming up with new bar joints
and restaurants, providing an authentic experience of alcoholic products,
including premium lager. Furthermore, rising inclination towards after-drinking
culture and dine-out at a global level is expected to promote the visibility of
bars as well as restaurants for lager in the near future.
Off-trade channels are expected to remain one of the key
selling channels among the buyers in developing countries including China and
India as they offer the products in retail prices. Furthermore, these channels
attract the consumers through offering services including gift packages and
combo packs. Growing popularity of after-drinking culture among the working
class professionals as a result of hectic workstyle is expected to propel the
consumers to utilize these channels for purchasing alcoholic drinks including
premium lager from off-trade channels such as beer shops.
The industry is highly competitive in nature with the key
market players including Heineken N.V, Constellation Brans, Carlsberg Breweries
A/S, B9 Beverages Pvt. Ltd., and Anheuser-Busch InBev SA/NV. Product innovation
is expected to remain a key critical success factor over the next few years. In
September 2018,Woodpecker Distilleries & Breweries Private Limited launched
a premium lager under the brand name, Blackfort, in India.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/premium-lager-market
Further key findings from the report suggest:
- Conventional
product types dominated the global premium lager market with an overall
revenue share of 54.6% in 2018. This growth is due to easy availability
and low price as compared to craft product types at a global level
- The
off-trade distribution channel is expected to expand at a CAGR of 5.0%
from 2019 to 2025. These products are purchased through liquor stores,
conventional stores, and hypermarkets
- Europe
held the largest market share in 2018. This trend is projected to continue
over the next few years on account of predominant consumption of products
in key markets including Germany, U.K., and France
- Product
innovation is expected to remain a critical success factor among premium
lager manufacturing firms.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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