Small, independent breweries produce the majority of craft beer, which is distinguished by its focus on quality, use of traditional methods, and variety of flavours. Craft beer is a broad term that encompasses individuality, self-sufficiency, and handcrafted brewing techniques. It sets itself apart with a variety of brewing techniques, ingredients, and styles.
Craft beer is used as a distinctive and tasty choice in consumer beverages. It has become a symbol of fine dining and is essential to the hotel and food service sectors. In addition, it stimulates international trade, retail, distribution, agriculture, and tourism. Craft beer is more than just a beverage; it shapes a variety of sectors, boosts regional economies, and enlightens consumers.
According to SPER market research, ‘Asia-Pacific Craft Beer Market Size- By Type, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the APAC Craft Beer Market is predicted to reach USD XX Billion by 2033 with a CAGR of 12.2%.
In terms of products and consumption patterns, the craft beer industry in the Asia-Pacific area is very diverse. This is mostly because different countries have distinct tastes and social and cultural norms. Premium ones are becoming more and more in demand, which is driving the market’s strong growth.
As a result, many Asian businesses have come to symbolise their home regions through their leadership roles in the craft beer movement over the long run. Also, because more and more young people in the area are choosing beer, there has been a noticeable rise in beer consumption. Beer consumption has increased significantly in the Asia-Pacific region as a result of shifting consumer choices and lifestyles.
The complex excise tax regimes, sales limitations, and possible outright prohibitions in Asian nations all constrain the craft beer business in the region. Nonetheless, the laws and limitations differ from one nation in the region to the next. The difficulties in finding craft brewers and rising prices and taxes on goods are some of the factors preventing the market from growing. Craft beer is more expensive than industrial beer, which affects how quickly it is growing.
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Impact of COVID-19 on Asia-Pacific Craft Beer Market
Due to the COVID-19 epidemic, the Asia-Pacific craft beer market encountered difficulties and saw delays in sales, distribution, and manufacture. Revenues suffered as on-premise consumption fell as a result of lockdowns and limitations on hospitality facilities. As customers moved to off-premise channels, the market nevertheless demonstrated resiliency. Consumer behaviour was impacted by the pandemic’s acceleration of digital and e-commerce tendencies. Despite early losses, changing consumer preferences are causing the craft beer business in the Asia-Pacific area to steadily rebound.
Japan holds the Largest Share: In Japan, beer holds a significant role in its drinking and dining culture. Craft beer, positioned as a premium beverage, has gained popularity among affluent consumers, driven by a desire for diverse tastes. The market offers a wide array of craft beers, each featuring distinctive flavors. Increasing affluence and a demand for innovation have led to a surge in the quality and variety of craft beers, fueling the growth of the Asia-Pacific Craft Beer Market. Notable brands like Asahi, Kirin, Sapporo, and Suntory dominate the craft beer scene. Additionally, the increasing preference for low-sugar craft beers caters to health-conscious consumers, prompting manufacturers to introduce new flavors and reduce sugar content.
Asia-Pacific Craft Beer Market Key Players:
Additionally, some of the market key players are Anheuser-Busch InBev, D.G. Yuengling & Son, Inc., Feral Brewing Co., Heineken International B.V., Himalayan Ales Private Limited, Others.
Asia-Pacific Craft Beer Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type: Based on the Type, Asia-Pacific Craft Beer Market is segmented as; Ales, Pilsners and Pale Lagers, Specialty Beers, Others.
By Distribution Channel: Based on the Distribution Channel, Asia-Pacific Craft Beer Market is segmented as; On-Trade, Off-Trade (Online Retail Channels, Offline Retail Channels).
By Region: This research also includes data for China, Japan, India, Australia, Rest of Asia-Pacific.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
APAC Craft Beer Market Future Outlook
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