The global beer industry is expected to grow at a CAGR of 4.22% between 2019 and 2026. This is ascribable to factors such as the easy availability of raw materials and increasing consumption of the product across the globe. Fortune Business Insights, publish this information in its latest report, titled “Beer Market Size, Share & Industry Analysis, By Type (Lager, Ale, Stouts, and Others), Packaging (Glass Bottle and Metal Can), and Distribution Channel (On-trade and Off-trade), and Regional Forecast, 2019 – 2026.” The report further observes that the market was worth USD 693.39 billion in 2018 and is expected to reach USD 962.39 billion by 2026.
COVID-19 Impact Analysis:
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Browse Summary of this Research Report with Detailed Table of Content:
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What does the Report Include?
The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Drivers and Restraints:
Abundant Availability of Raw Material for Product Manufacturing to Aid Growth
According to Fortune Business Insights report, the global wheat production has surged over the past five years that supplements raw material such as wheat and barley for the beer manufacturers. The availability of the raw materials along with large consumer base in several regions across the globe is expected to propel the global beer market growth during the forecast period. For instance, according to a report by Kirin Beer University in 2018, China was found to be the largest beer consuming country across the globe. Furthermore, increasing acceptance of western culture in countries such as China and India in Asia-Pacific is anticipated to drive the market growth in the forthcoming years.
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