Europe
Beer Market: Snapshot
Not
too long ago, major beer companies in Europe were limited to the
local market. However, with rapid industrialization and development,
beer is now being readily accepted across Western and Eastern Europe.
Beer is the most favored alcoholic drink in Europe and with its
increased consumption, the demand is going to scale new heights.
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Beer
is the most consumed alcoholic beverage in Europe and several major
players operating in the beer market hail from Europe. The most
crucial factor impacting the demand for beer is its health benefits.
It is known to keep the kidneys healthy, cure insomnia, and reduce
cholesterol level, thus pushing the demand for beer. The soluble
fiber present in lager beer helps in digestion and lowers the chances
of intestinal transit. In addition, beer aids in enhancing bone
density and strengthening the bones due to the presence of high
silicon content in it. The market is said to prosper in Europe with
improving disposable income of the consumers. Moreover, partnerships,
mergers and acquisitions, and product inventions are projected to
propel the Europe beer market in the forecast period.
However,
the beer market in Europe is set to face tough competition from
internal and external substitutes. Wine, vodka, rum, and whisky are
the internal substitutes, whereas non-alcoholic drinks including
dairy drinks, carbonated drinks, energy drinks, and ready-to-drink
tea and coffee are some of the external substitutes, and its
seasonality.
According
to Transparency Market Research, the Europe beer market is expected
to reach US$ 100.80 bn by 2021 from its initial value of US$ 87.6 in
2016.
Lager
Beer to Continue to be Preferred Choice
On
the basis of product, the European
beer market has been segmented into lager beer, ale beer, and
stout beer. Lager beer accounted for a larger market share, valuing
US$17.01 bn in 2014. It is expected to reach US$20.05 bn by 2021,
expanding at a CAGR of 2.4% from 2015 to 2021. Lager is the most
preferred type of beer consumed in Europe. The term lager refers to
the beer that is fermented with yeast at a much lower temperature
than other styles such as ale and stout.
Ale
yeast ferments more quickly, giving a fruity, sweet, and full-bodied
taste to the beer compared to lager. Due to more variety, ale is the
faster growing segment of the market. The European ale market was
valued at US$ 35.17 bn in 2014 and is anticipated to reach US$ 43.48
bn by 2021, expanding at a CAGR of 3.1% from 2015 to 2021.
Eastern
Europe takes the Lead in terms of Consumption
Eastern
Europe offers a significant untapped potential opportunity for beer
manufacturers to capitalize upon. Russia and Ukraine - the growing
markets of Eastern Europe offer several expansion opportunities for
beer manufacturers, hence expected to show a positive growth in the
coming years. The major driving factors in this region include the
long tradition of alcohol consumption in Eastern Europe, increasing
disposable income of consumers, strong domestic brands, and
modernization of distribution systems. In addition, the middle class
consumers are looking at alternate options, thus propelling the beer
industry in Eastern Europe over the forecast period.
The
key players in the Europe beer market include Diageo, SAB Miller PLC,
Carlsberg Group, Anheuser-Busch InBev, and Heineken N.V
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