Consumption
of beer can be traced back to over six thousand years. From being an
inseparable part of the ancient Egyptian civilization to becoming a
highly popular commonplace drink, consumed by all social classes in
several countries, beer has come a long way. The global
market for beer is projected to exhibit steady growth over the
coming few years, thanks to the rising consumption and popularity of
the drink in some of the major regional markets.
A
brief overview of some of the major drivers of the beer market in key
regional markets is as follows:
Post-depression
Financial Recovery in Europe
Europe
is home to several local breweries apart from major manufacturers of
beer. The market for beer in Europe, beer being one of the most
popular alcoholic beverages in the region, is well established and
has been exhibiting steady growth over the past years. Factors such
as rising disposable incomes post the recent economic depression in
the region and the rising awareness about the health benefits of
beer, which include prevention of kidney stones, lowering of
cholesterol and curing insomnia when beer is consumed in stipulated
amounts, are also boosting the market for beer in the region.
Introduction
of Organic Beer in Middle East and Latin America
Middle
East has always been a tough territory for all alcoholic beverage
markets. Prohibitory rules on the consumption of alcoholic beverages
implemented by several established religious and government bodies
are major restraints for the beer market in the Middle East. Egypt
and UAE held a dominant share of over 40.62% in the Middle East beer
market. The consumption of alcoholic beer is much less in most other
Middle Eastern countries. Nevertheless, the introduction of organic
beer and the rising awareness regarding health benefits of the drink
will fuel demand from the market in the near future.
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On
the other hand, Latin America has no such restrictions and thus has a
larger consumer base for beer. Suitable climatic conditions and the
rising awareness regarding health benefits of beer are expected to
further boost the demand for beer in Latin America in the next few
years.
Rising
Disposable Incomes in Asia Pacific
The
rising demand for beer in Asia Pacific can be primarily ascribed to
strengthening economies and rising disposable incomes of working
class consumers in the region. As more consumers are willing to spend
on high-end alcoholic beverages either in restaurants or at home, the
demand for beer in the region has seen significant rise in the past
few years. The beer market in Asia Pacific has also observed
significant rise in demand in the past few years owing to the rising
number of malls, convenience stores, bars, restaurants, and liquor
shops across the region.
Some
of the major restraints hampering the beer market in Asia Pacific are
the several government restrictions pertaining to alcohol content in
a variety of beverages and complete ban on the sale of alcoholic
beverages across several regions or during some occasions. These
factors, however, will not excessively impede the market for beer in
Asia Pacific and the market is projected to expand at a healthy 5.0%
CAGR between 2014 and 2020.
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