Transparency Market Research (TMR) has announced the addition of a new market study on the beer market in Latin America and the Middle East. The report is titled “Beer Market – Latin America and Middle-East Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021.” According to the report, the Middle East beer market is expected to grow from US$3.58 bn in 2014 to US$4.86 bn by 2021, expanding at a CAGR of 4.3% between 2015 and 2021. In terms of volume, the Middle East beer market is projected to expand at a 2.1% CAGR from 2015 to 2021, rising from 1,044.3 mn liters to 1,209.4 million liters by 2021
According to the report, the Latin America beer market, which was valued at US$57.09 bn in 2014 is projected to reach US$77.14 bn by 2021, registering a CAGR of 4.4% between 2015 and 2021. In terms of volume, the Latin America beer market is anticipated to grow from 20,191.6 mn liters in 2014 to 24,847.9 mn liters by 2021, expanding at a 3.1% CAGR from 2014 to 2021.
After tea and water, beer is the most popular drink consumed across the globe. Beer is categorized into non-alcoholic, dark, lager, and stout beer. Beer is produced by the saccharification of starch and sugar fermentation. Beers are almost always flavored with hops, which give it a bitter taste. Beers also come in other different flavors such as fruits and herbs. The main ingredients used in the preparation of beer include malted barley, wheat, water, brewer’s yeast, and hops for the flavor.
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The beer market is expanding due to the rise in awareness among consumers about the health benefits of beer. The consumption of beer has proven to be beneficial for the prevention of coronary diseases. Beer is low in both cholesterol and fat content, making it safe for consumption and also preventing high cholesterol. Rising disposable incomes and rapid urbanization are also responsible for driving the beer market. The changing lifestyles of people, especially the youth, is escalating the demand for beer. On the other hand, the beer market is restrained by the bitter taste of most products, which discourages people from consumption.
The beer market is segmented on the basis of geography into two regions – Latin America and the Middle East. In Latin America, Brazil accounted for a share of 60% and was the largest market for beer in 2014. The reason behind the extreme growth was due to the absence of stringent rules and regulations as well as the suitable climatic conditions of the region. The Middle East exhibits a budding market especially for non-alcoholic beers. The UAE and Egypt, in the Middle East collectively accounted for the largest market share of 40.62% in 2014 in the beer market. The existence of strict government rules and regulations in the region restricts consumers from drinking alcoholic beer, and thus non-alcoholic beer is more in demand.
The report profiles key players in the beer market for the purpose of the study. Beer companies such as Heineken N.V, SABMiller Plc., Carlsberg Group, Anheuser-Busch InBev, and AmBev S.A., have been studied in detail.
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