The beer market size is expected to grow by USD 141.28 billion from 2022 to 2027, according to a recent report by Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 3.7 percent during the forecast period. Rising demand for beer in emerging economies is notably driving the beer market. However, factors such as the presence of stringent regulations and high rates of taxes on alcoholic beverages may impede market growth. The market is segmented by packaging (Bottles and Cans), distribution channel (On-trade and Off-trade), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The market share growth by the bottles segment will be significant during the forecast period. Traditionally, beer has been packaged in glass bottles, typically brown-coloured, with the 600-ml beer bottle being a popular choice that's easily shareable among two to three people. Modern consumers, however, are showing a preference for lightweight metal cans, which can adapt to various social situations. Additionally, alternative packaging materials like wooden containers and polyethylene terephthalate (PET) bottles have become available.
The introduction of innovative Green Fiber Bottles presents a novel solution. These bottles are non-transparent and shatterproof, featuring a distinctive fibre structure. What's more, they are environmentally friendly and offer a sustainable option for beer packaging. Instead of a plastic seal, an impermeable coating is used. The wood fibre used for these bottles is sourced from sustainably managed wood fibres. These advancements are poised to stimulate growth in the bottle segment, consequently driving the expansion of the global market in the forecast period.
APAC is estimated to account for 42 percent of the global market growth during the forecast period. Several factors contribute to this growth, including the expanding gross domestic product (GDP) and economic development in the region, the increasing popularity and widespread acceptance of beer in various APAC countries, the growth of the middle-class population, rising per capita income levels, and a growing preference for beer consumption among the millennial demographic.
