Beer – what better way to stir up a party or a casual conversation or an otherwise mundane weekend? It stands out as the most convenient drink one can have. It is affordable, effortlessly available and convenient than any other liquor for any party. This is showing an upward demand for the beer industry across the globe.
Beer comes handy in bottles and cans while camping or a bonfire on the beach. Owing to its high demand among not just teenagers, but also adults, its production is the largest worldwide. India provides for one of the largest beer consumption markets across the globe. In India, the growing middle class attributes to the increasing beer consumption. Although, Indians did prefer whiskey over beer due to low costs yet strong alcohol content. However, the statistics have been increasing in favor of the latter, especially the foreign brands, in these upcoming times is perhaps due to increased youth population or even a rising health consciousness among the masses.
Thereof, India’s contribution to the beer market puts Asia-Pacific in the lead among the share of the continents in the global beer market. Owing to Russia and Germany, the European continent partakes 27% of the global beer industry. Beer is supposedly the most relished alcoholic beverage in Europe.
North America beer market is witnessing tremendous growth by the beginning of 2018 with an average 73.4 litres of per capita beer consumption. The USA leads the North America beer market while Mexico and Canada follow closely.
The beer preferences differ across the continents, yet, globalization amps up the global beer market. It also eases up for a foreign brand to penetrate into the beer market of another county. Hence the further expansion of the beer industry globally turns out to be quite rapid.
Read the report published by Inkwood Research on “Global Beer market“
Common Beer market Dynamics across the Globe
The changing pattern of lifestyle choices, expanding inclusion of drinking habits in the day to day lives of every other person is a pretty common sight in every continent. Further, growing popularity of beer as an alcoholic choice and ever-increasing youth population are mutually developing the growth of the beer industry, worldwide.
Moreover, the familiarity of the service sector kind of society which often includes the growing corporate crowd increases the demand for beer manifold. Thereby, the fast growth of the worldwide beer industry is ensured.
Numerous other factors that do not play in favor of the budding beer market are the heavy taxes levied on both domestic as well as imported beer. The stringent legal regulations (often meant as a safety measure, but rarely plausible) and close substitute availability challenge the beer market significantly. Often the economy is to be blamed for a contracting beer industry; wherein the fluctuations and uncertainty of the markets disrupt the consumer’s general spending pattern on beer. Moreover, health conscious, exercise loving addict follow the rules and therefore, give up on beer consumption. As most of the youth nowadays are more focused on building up that perfect physique or at least maintaining a healthy living, the demand for beer automatically falls, thus, dampening the global beer market.
All in all, even though the global beer market might be facing a couple of challenges, they decide to tackle the same to an extent by developing and subsequently, introducing new variants of beer in the market. By managing cost-effective ways to produce beer, these new variants can be made available at cheaper rates, coupling with marketing strategies, cheap-high-quality beers are a sure sell in the future.
Author: Clive Cooper
Senior Digital Marketing Manager at Inkwood Research