According to a new report published by Allied Market Research, titled, “Light Beer Market by Production, Package, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2027,”the light beer market size was valued at $285.3billion in 2019, and is expected to garner $338.8 billion by 2027, registering a CAGR of 2.9% from 2021 to 2027.
There is a significant rise in consumption of beer by people aged between 18 and 25 years. The approximate number of middle- and old-aged men has more or less remained the same, whereas there is an increase in the number of women. According to the United Nations, the global youth population is expected to rise by 7% to 1.3 million before 2030, which in turn is expected to drive the light beer market. The trend of drinking among women has been gaining acceptance across the globe due to financial independence and increase in social and professional gatherings. This factor majorly fuels the light beer market. On-premise distribution channels, such as restaurants, cafes, disco, and bars, serve beer and special cocktails containing light beer. The on-premise distribution channels have witnessed higher demand with rise in disposable income and change in consumer preferences. Increment in the number of restaurants and bars have resulted in greater consumption of these beverages, as people increasingly prefer on-premise drinking rather than off-premise drinking.
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The light beer market is anticipated to witness a significant growth in Asia-Pacific, owing to several factors such as upsurge among female consumers and social acceptance of beer as a refreshment drink in parties. However, various countries have levied huge taxes on alcohol to discourage excessive drinking, which is expected to hamper the market growth.
The outbreak of COVID-19 has severely impacted the global economies, and has caused severe disruption in supply chain. Also, due to lockdown imposed in various countries across the globe is hampering the production of light beer. Similarly, lockdown has disrupted the supply of end products to retail store, thus negatively impacting light beer market trends.
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The raw materials used in beer manufacturing are affected by volatile prices, which in turn impedes the light beer market growth. These beverages are produced from crops, which are not produced adequately due to draught and other environmental issues, thus creating a supply–demand gap in the industry. This factor lowers their production as well as increases product pricings, which impede the growth of the market. Recent developments in honey-derived products appear to be a viable alternative to produce innovative alcoholic drinks for consumers, and drive the growth of this industry in future. Through fermentation of honey beer, many innovative drinks, such as sherry type wine, fruit-honey wine, and different types of meads are obtained. These products are launched in various flavors depending on the floral source of the honey, the yeast used in the fermentation, and use of different additives.
The global light beer market is segmented into production, package, and distribution channel, and region. Based on production, the market is categorized into macro-brewery, micro-brewery, craft brewery, chips, and others. Based on package, the market is categorized into glass, pet bottle, metal can, and others. Based on distribution channel, the market is fragmented into hypermarkets & supermarket, on-trade, specialty stores, convenience store, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key findings of the study
On the basis of production, the craft brewery segment was the highest contributor to the light beer market, and is expected to grow at a CAGR of 2.30% from 2021 to 2027.
By package, the PET bottle segment led the market in terms of value in 2019, and is estimated to grow at a CAGR of 2.60% from 2021to 2027.
Depending on the distribution channel, the hypermarkets and supermarkets segment is expected to grow at a steady CAGR of 2.60% from 2021to 2027.
Region wise, North America is expected to grow at a steady CAGR of 1.90% from 2021to 2027.
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The key players operating in the light beer industry are the ABInBev, MillerCoors, Heineken USA, Pabst, Diageo-Guinness, Carlsberg, Asahi Breweries, Suntory Beer, Arpanoosh, and ErdingerWeibbrau.
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