Beer Market Opportunities & Forecast, 2020-2027

1. Beer Market

2. The primary objective of the market report by GMI Research is to help the users understand the market scenario in terms of its definition, segmentation, drivers, opportunities, market trends, and the challenges that the market is facing. This report focuses on the market, especially in North America, Europe, Asia-Pacific, and the rest of the world.

3. Key Drivers of the Beer Market The rising disposable income, increasing consumer preference toward alcoholic beverages, and rapid urbanization are the significant factors that are boosting the growth of the beer market size. Within the past years, most of the population from rural areas have started shifting to urban areas to improve their lifestyle. Currently, the urban population mainly include youngsters and working individuals who are attracted to western culture and have started implementing various cultural changes. The consumption of alcohol has been a prevalent stigma in society. However, with the adoption of western culture, there has been an upsurge in the consumption of alcohol among the consumers. Presently, drinking in bars and house parties have become an important part of the sociocultural context. Additionally, the easy availability of beer in retail outlets, followed by a significant shift in individual habits, has led to the growing penetration of beer in metro cities. Therefore, rapid urbanization is the major factor that is accelerating the growth of the beer market in terms of revenue.

4. The beer market is likely to witness numerous growth opportunities by attracting female customers. With rapid urbanization and the increasing trend of women empowerment, the total percentage of working females is increasing rapidly. This factor has increased the interest of females towards western culture, which is another factor that is boosting the growth of the beer market share in terms of revenue. On the other hand, increasing health awareness among individuals is likely to restrain the market’s growth. With the outspread of coronavirus in 2020, there has been a temporary shutdown of alcohol shops, bars, and restaurants that were serving alcoholic drinks. This shutdown has adversely impacted the overall sales volume of beer across the globe. However, the market is predicted to bounce back in 2021 while growing at a faster rate from 2022 onwards.

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