Market Research Future has published a half-cooked research report on the Global Lager Market, 2020–2030.
The global lager market is projected to exhibit a CAGR of around 3% during the forecast period of 2022 to 2030.
Market Research Future has recognized the following companies as the key players in the global lager market - Anheuser-Busch InBev, Founders Hill Brewing Co., LLC, Carlsberg A/S, Diageo Plc, Lakefront Brewery Inc, Anchor Brewing Co., LLC, Squatters Pubs and Craft Beers, Sierra Neveda Brewing Company, The Boston Beer Company, and United Breweries Limited., among others.
The global lager market is projected to be valued at ~USD 400 billion by 2030, recording a CAGR of around 3% during the forecast period. Lager is a type of beer that typically has a light body and a clean finish. It also has a malty sweetness and a low hop character. While this beer is used in many recipes and is a favorite of many beer enthusiasts, it is most popular as a German-style beer. The differences between ales and lagers are the fermentation processes and lagers typically have a longer period of fermentation. In addition, lagers are preserved for longer periods of time when compared to ales.
Increasing awareness regarding the health benefits of beer such as antioxidants, proteins, and low cholesterol is expected to boost the market growth. There are a number of vitamins, minerals, and vitamins in beer that offer health benefits including aiding heart health. According to the World Health Organization (WHO), 17.9 million die every year due to cardiovascular diseases (CVDs) globally which is why there has been an increasing trend for healthy drinkers when it comes to beer consumption over the last few years. Moreover, increasing choices of superior varieties seem to be significant prospects for the industry. This creates a strong demand in an established market, which mainly revolves around bars, restaurants, and hotels. Furthermore, beer is preferred over other forms of alcoholic drinks due to its rising brand popularity in earlier times. This can potentially be attributed to superior brewing technology and the usage of high-quality material for production.
The lockdown in various countries across the globe has also affected the production capacity of beer manufacturing companies. Beer manufacturers who specialize in brewing are also facing production problems as they have to either shut down production or run their brews under-staffed or hire workers. The procurement of ingredients has also become a major concern for manufacturers. This is further hampering the demand and supply of lagers. With multiple countries across the world locking down their borders, there have been minimum export-import movements and as a result, it has left lagers with reduced supply chain disruptions.
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The global lager market has been segmented based on product type, distribution channel, and region.
By product type, the global lager market has been segmented into premium and standard lager. The premium segment is estimated to hold a significant share in the global lager market for the year 2022. The segment is expected to grow at a high rate due to the variety of products available in the market. An increase in beer consumption is due to its growing adoption in bars, restaurants, and hotels. The industry's increasing demand can be contributed to the changing consumer preferences for premium beers. Furthermore, improving brewing technology and the usage of the finest quality raw materials are contributing to the increase in product quality.
By distribution channel, the global lager market has been segmented as on-trade and off-trade. The off-trade distribution channels include supermarkets & hypermarkets, convenience stores, specialty stores, and off-licenses among others. The off-trade segment is estimated to hold a significant share in the market for the year 2022. Lager beer manufacturers often opt for off-trade distribution channels for the extensive sales of their products. Due to COVID-19, a majority of retail stores had to be closed in many countries resulting in the forced closure of their outlets. Companies are now opting for online distribution platforms as they need to extend consumer reach, considering the present scenario in place. The consumers also have access to a large number of product offers.
Geographically, the global lager market has been categorized as North America, Europe, Asia-Pacific, and Rest of World. The European region is anticipated to be dominating the global lager market due to the presence of large producers in the region. On the other hand, the Asia Pacific lager market is projected to be the fastest-growing market over the forecast period.