North America Craft Beer Market Size, Share, Growth, Trends, And Forecasts 2018
Posted by rohan on October 6th, 2018
North America Craft Beer Market Price, Growth, and Drivers:
North America Craft Beer Market was worth USD 45.03 billion in 2018 and estimated to be growing at a CAGR of 22%, to reach USD 121.69 billion by 2023. Craft brewery produces small amounts of beer unlike the typical large-scale production breweries and is independently owned. It started in the United Kingdom in the 1970’s producing craft beers alongside regular beers and it quickly spread to Europe and other parts of the world later.
North America Craft Beer Market is driven by factors like rising demand for low alcohol by volume drinks and flavoured beers, growing awareness of consumers about various flavours and styles of products, rising disposable income and rising consumption of alcohol. However other factors like high price of craft beers as compared to ordinary beers, their production requiring a lot of clean water and health concerns since they are produced by pressurised tanks with caustic chemicals are some restraints for this market. These factors may act as growth hurdles for the Craft Beer Market in certain regions.
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North America Craft Beer Market Segmentation:
In the Global Craft Beer Market, North America has the second largest share valuing around 27%. North America market region can be divided into US, Canada and Mexico. US have the largest market share in this region with the number of breweries around 15 per million people. It is the fastest growing country in the region as well.
North America Craft Beer Market Major key competitors:
Some of the major competitors dominating the North America Craft Beer market are The Boston Beer Company, The Gambrinus Company, D.G. Yuengling and Son, Stone & Wood Brewing Co., Chimay Beers and Cheeses, Sierra Nevada Brewing Company and Lagunitas Brewing Company.
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Name: Mr. Abhishek Shukla
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About the Authorrohan
Joined: September 20th, 2017
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