Premium Lager Market size was worth USD 161.1 billion, in 2018. It is expected to grow with a CAGR of 4.5% during 2019 to 2025. The market is expected to gain traction owing to rising demand among consumers for larger beer with its smooth taste when compared to conventional beer available in the market.
Health-related problems such as
diabetics, prevention of minor fractures, blood pressure and fungal infection
can be dealt with the consumption of premium lager products. Further, other
factors like rise in disposable income, urbanization and increasing customer
inclination towards the consumption of alcohol-based beverages are projected to
accelerate the market in developing nations like China and India are.
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The key driving factors responsible for the growth of Premium Lager
market :
Moreover, trends of adopting
western culture like alcohol consumption in office parties can be a significant
factor propelling the premium lager market. New market opportunities are
expected from the tremendous shift of rural population towards urban areas in
the developed countries mentioned above along with their adoption to western
culture.
Supportive policies of government
are predicted to play major role in determining the industry trends. Recently,
various agencies such as the U.S. TTB (Alcohol and Tobacco Tax and Trade
Bureau),and the U.S. EPA (Environmental Protection Agency) have been
incorporating strict norms on emissions and packaging related to the
manufacturing of beer. Moreover, other norms include legal issues related to
age limit, consumption and sale of alcohol are projected to negatively affect
the demand-supply over the forecast period.
Product Insights
In 2018, traditional premium beer
held the largest share with 54.6%s. It is manufactured by breaking down in a
relatively low temperature of 45 to 60-degree Fahrenheit. The low price of raw
materials along with easy procurement of these beers, easy preparations
facilitate a satisfactory return on investment for the producers.
The growth accounts for the
existing consumption of regular beers in European countries like the U.K.,
France, and Germany. Moreover, increasing consciousness pertaining to health
benefits of beer like faster recovery from injury and pain, better kidney
health, and prevention of type 2 diabetes is predicted to boost the demand of
regular premium lager.
Craft premium lager beer is
projected to grow with a CAGR of 4.8% in the forecasted period. Beers
manufactured in craft brewing facilitate an original taste is attributed to
attract customer desires. Canada, U.S., U.K., and Germany are the leading
consumers of lager products. Daily drinking of beer to prevent anxiety and work
stress is preferred by the population of these countries. The producers are
concentrating on the development of new flavors and types with added health
benefits from having this type of beer.
Distribution Channel Insights
The premium lager are procured
through on-trade channels like restaurants, hotels, bars, and clubs. The
on-trade division accounts for the highest share of 65.0% as a result of an
increase in resto-bars in big economies. Furthermore, the pure taste of beer or
good ambiance of clubs attracts more customers. New players like B-Dubs, an
international sports bar like Buffalo Wild Wings, Inc., are entering with new
alcoholic products for India. These are some of the key factors driving the
market growth.
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