According to a new report published by Allied Market Research, titled, “Lager Market by Packaging Type, Price Point and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global lager market size is expected to reach $392.0 billion by 2030 at a CAGR of 2.7% from 2021 to 2030.
Lager beer is a type of beer that is brewed with a slow fermentation process and then chilled. Conditioning the lager at low temperatures slows the yeast’s activity and aids in the product’s maturation. Herbs and fruits are frequently added to the drink to give it a distinct flavor and scent. Depending on the style and recipe of the formulation, the alcohol percentage in lager can range from less than 3% to 40% by volume (ABV). Beer has been shown to help prevent disorders of the heart and circulatory system, such as atherosclerosis, angina, stroke, and heart attack, when consumed in moderation.
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The lager market is expected to increase faster as people becoming more aware of health benefits of lager. Lager is high in vitamins, proteins, and natural antioxidants while being low in calories, carbs, and fat. These nutritional characteristics aid in the prevention of cardiovascular illnesses and the recuperation of muscles. They also aid in lowering cholesterol and raising HDL levels in the body.
Growing millennial population has been majorly attributed for the growth of the lager market during the forecast period. Young consumers are considered to be high buyer potential group which has been continuously influencing the newly arrived alcoholic beverages. Dynamic changes in the consumer preferences and high inclination toward the flavored & low alcohol content and low calories content beverages are further boosting the demand for lager.
The lager market is segmented into packaging type, price point, distribution channel, and region. On the basis of packaging type, the market is categorized into glass, metal can, and others. By price point, it is segregated into popular priced, premium, and luxury. According to distribution channel, it is divided into on trade and off trade. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, Australia & New Zealand, India, Indonesia, South Korea, Thailand and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey and Rest of LAMEA).
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On the basis of packaging type, the metal can segment was valued at $70.0 billion in 2020, and is projected to reach $106.0 billion by 2030, registering a CAGR of 3.9% from 2021 to 2030. According to recent sales statistics, canned lager is the most extensively consumed product, and it is likely to continue to dominate the worldwide scene over the forecast period. Increased innovation in the draught beer category, such as the development of home-delivery systems like Heineken’s ‘The Sub,’ is likely to support segment growth. Furthermore, metal cans are durable and do not easily break, the product within the metal can remains safe and clean even if it is handled harshly. Metal cans are also available in tiny packaging, which might help the market grow even faster throughout the projection period.
According to lager industry trends, depending on price point, the premium segment was valued at $175.2 billion in 2020, and is expected to reach $225.5 billion by 2030, with a CAGR of 2.3%. The rising use of the product in pubs, restaurants, hotels has resulted in a rise in product consumption. With evolution of beer industry many new types of beers are introduced by beer manufacturers and as the consumer preference for consumption of beer is also changing consumers are not hesitating to pay for premium price range lagers. Furthermore, improvements in brewing process technology, together with the use of the highest quality raw materials, have improved the product’s overall features.
On the basis of distribution channel, the on trade segment was valued at $61.2 billion in 2020, and is expected to reach $170.7 billion by 2030, at a CAGR of 10.2% from 2021 to 2030. This increase can be ascribed to increased product consumption in nightclubs, pubs, bars, restaurants, other hospitality establishments. When compared to off-trade rivals, beer items are accessible at higher pricing through on-trade channels. As a result of high consumer purchasing power, the increasing hotel business in developed countries such as the United States, United Kingdom, Germany, and France is expected to have a significant impact on lager market growth through on-trade segment.
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Region-wise, Asia-Pacific has been gaining significant traction in the lager market and is expected to sustain its traction during the forecast period. Many Asian countries are also showing similar developments as rising income levels, and expansion of modern retail & single brand stores across this region are driving the reach of lager, are anticipated to position strong development in developing countries in the Asia-Pacific region, including India & China.
The key players profiled in this report include Anheuser-Busch InBev, Founders Hill Brewing Co., LLC, Carlsberg A/S, Diageo Plc, Lakefront Brewery Inc, Anchor Brewing Co., LLC, Squatters Pubs and Craft Beers, Sierra Neveda Brewing Company, The Boston Beer Company and United Breweries Limited.
Key findings of the study
By packaging, the metal can segment is estimated to witness the fastest growth, registering a CAGR of 3.9% during the forecast period.
In 2020, depending on price point, the luxury segment was valued at $73.8 billion, accounting for 25.2% of the global lager market share.
By distribution channel, the on-trade segment is estimated to witness the fastest growth, registering a CAGR of 10.2% during the forecast period.
In 2020, China was the most prominent market in Asia-Pacific, and is projected to reach $95.6 billion by 2030, growing at a CAGR of 4.4% during the forecast period.
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