Growing popularity and demand for low ABV content beverages particularly among health conscious population, growing launch of flavored lagers
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, February 18, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Lager Market by Packaging Type, Price Point and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global lager market size is expected to reach $392.0 billion by 2030 at a CAGR of 2.7% from 2021 to 2030.
Lager beer is a type of beer that is brewed with a slow fermentation process and then chilled. Conditioning the lager at low temperatures slows the yeast’s activity and aids in the product’s maturation. Herbs and fruits are frequently added to the drink to give it a distinct flavor and scent. Depending on the style and recipe of the formulation, the alcohol percentage in lager can range from less than 3% to 40% by volume (ABV). Beer has been shown to help prevent disorders of the heart and circulatory system, such as atherosclerosis, angina, stroke, and heart attack, when consumed in moderation.
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The lager market is expected to increase faster as people becoming more aware of health benefits of lager. Lager is high in vitamins, proteins, and natural antioxidants while being low in calories, carbs, and fat. These nutritional characteristics aid in the prevention of cardiovascular illnesses and the recuperation of muscles. They also aid in lowering cholesterol and raising HDL levels in the body.
On the basis of packaging type, the metal can segment was valued at $70.0 billion in 2020, and is projected to reach $106.0 billion by 2030, registering a CAGR of 3.9% from 2021 to 2030. According to recent sales statistics, canned lager is the most extensively consumed product, and it is likely to continue to dominate the worldwide scene over the forecast period. Increased innovation in the draught beer category, such as the development of home-delivery systems like Heineken’s ‘The Sub,’ is likely to support segment growth. Furthermore, metal cans are durable and do not easily break, the product within the metal can remains safe and clean even if it is handled harshly. Metal cans are also available in tiny packaging, which might help the market grow even faster throughout the projection period.
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According to lager industry trends, depending on price point, the premium segment was valued at $175.2 billion in 2020, and is expected to reach $225.5 billion by 2030, with a CAGR of 2.3%. The rising use of the product in pubs, restaurants, and hotels has resulted in a rise in product consumption. With evolution of beer industry many new types of beers are introduced by beer manufacturers and as the consumer preference for consumption of beer is also changing consumers are not hesitating to pay for premium price range lagers. Furthermore, improvements in brewing process technology, together with the use of the highest quality raw materials, have improved the product’s overall features.
On the basis of distribution channel, the on trade segment was valued at $61.2 billion in 2020, and is expected to reach $170.7 billion by 2030, registering a CAGR of 10.2% from 2021 to 2030. This increase can be ascribed to increased product consumption in nightclubs, pubs, bars, restaurants, and other hospitality establishments. When compared to off-trade rivals, beer items are accessible at higher pricing through on-trade channels. As a result of high consumer purchasing power, the increasing hotel business in developed countries such as the United States, United Kingdom, Germany, and France is expected to have a significant impact on lager market growth through on-trade segment.
According to the lager market forecast, region-wise, Asia-Pacific has been gaining significant traction in the lager market and is expected to sustain its traction during the forecast period. Many Asian countries are also showing similar developments as rising income levels, and expansion of modern retail & single brand stores across this region are driving the reach of lager, and are anticipated to position strong development in developing countries in the Asia-Pacific region, including India and China. In order to meet rising customer demand, several companies are releasing new products in developing countries including India and China. Thus, above mentioned factor boost the growth of the Asia pacific lager market during the forecast period.
The players operating in the lager industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include 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.
Key findings of the Study:-
>The lager market was valued at $292.4 billion in 2020, and is estimated to reach $392.0 billion by 2030, growing at a CAGR of 2.7% during the forecast period.
>By packaging, the metal can segment is estimated to witness the fastest growth, registering a CAGR of 3.9% during the forecast period.
>In 2020, depending on price point, the luxury segment was valued at $73.8 billion, accounting for 25.2% of the global lager market share.
>By distribution channel, the on-trade segment is estimated to witness the fastest growth, registering a CAGR of 10.2% during the forecast period.
>In 2020, China was the most prominent market in Asia-Pacific, and is projected to reach $95.6 billion by 2030, growing at a CAGR of 4.4% during the forecast period.
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Article originally published on www.einpresswire.com as Lager Market Drivers Shaping Future Growth, Revenue $392.0 Billion by 2030