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Smaller Emerging Markets Will Fuel The Global Beer Category

IWSR Drinks Market Analysis Research predicts that global beer consumption will bounce back, particularly in smaller emerging markets. The Global Database reports that the category is expected to grow nearly 1.9 billion hectoliters by 2023, (with a compound annual growth rate of 0.7 percent 2018 to 2023). The global retail value of beer is expected to increase 5 percent by 2023, surpassing $455 billion. The category is gaining strength with the popularity of craft beers and low/non-alcohol beer. The volume of global craft beer is likely to grow to 52.2 hectoliters by 2023, (with a compound annual growth rate of 4.5 percent 2018 to 2023).

Source: IWSR July  2019