Rapid changes within the trends along with the rising disposable income in developing regions such as the Asia Pacific beer industry is augmenting. Moreover, craft or flavored beer only accounts for about 22 percent of entire sales in the beer industry.
Undeniably, previous decade is evident of a lot of changes in global beer industry than at any other period in the history, apart from the chances of Proscription. Consider of new breweries, styles as well as terms in upcoming years. Moreover, eyeing at the past years record it was just a couple years ago, in addition to the hazy IPA exploding in popularity, there had also been a lot of debuts within the industry including hard seltzer water, a flavored beer. Also, according to the analysts of The Insight Partners , development of flavored beer products by the companies operating in the competitive landscape is expected to be the key factor driving the growth of beer industry. Another major reason driving the industry is rising consumer preferences for beer over any other alcoholic beverages.
For both professionals as well as consumers, the starting of 2020 is the best chance to reflect over past year’s developments along with predicting where the beer industry may perhaps be headed.
The United States had nearly 7,346 craft brewers in the past year, which was more than 93 % from that of 2014, as per the Brewers Association, a beer industry trade group. Also, sales of craft beer rose by almost 7 % to nearly $27.6 billion past year, this is about one-fourth of the entire beer market across the United States.
In addition, one of the most known craft beers is Indian Pale Ale (IPA) that have evolved from their traditional bellicose bitter flavors. Moreover, testing with the novel hop strains, brewers have twirled the IPAs in several different ways transforming beer tastes. New pale ales are acclimatizing towards several geographical regions and making use of innovative flavorful breeds of hops.
The next big thing evolving rapidly in beer is being a small taproom. This is because brewers pouring, vending cans or else filling growlers at the individual taprooms make nearly 40% to 50 % more money than they probably would if they sold their beer at wholesale to a distributor. Individual taprooms will enable them cutting the middleman expenses.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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