According to FMI’s analysis, the kegs market would expand at a CAGR of 4.5% during the forecast period. The estimated market size for the sector is expected to rise from US$ 939 Million in 2023 to US$ 1.5 Billion by 2033.
Kegs have played an essential role in the beverage industry for centuries. They offer a practical and efficient way to store and transport liquids such as beer, cider, wine, and soda. The kegs market has witnessed significant growth in recent years, driven by the rising demand for craft beer and the increasing popularity of draught beer consumption.
Growth of the Kegs Market
The kegs market has experienced steady growth, fueled by several factors. Firstly, the rising preference for fresh and flavorful beer has led to a surge in the consumption of craft beer. Craft breweries often rely on kegs to deliver their products to consumers, as kegs help maintain the beer’s quality and taste. Additionally, the growing trend of socializing in bars, pubs, and restaurants has contributed to the increased demand for kegs.
Furthermore, the environmental advantages of kegs have further propelled market growth. Kegs are reusable and recyclable, making them a sustainable choice compared to single-use bottles and cans. This sustainability factor has resonated with environmentally conscious consumers, leading to a shift towards kegged beverages.
Download Sample Report to learn about recent in the Kegs industry observed by FMI. @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6666
Key Takeaways from the Kegs Industry:
- The United States kegs market is projected to attain market value of US$ 325.7 Mn by 2033, growing at a CAGR of 5.2% in the coming years. Increasing automation in the industry, thanks to technologies like smart sensors, APIs, software, and cloud databases, is propelling market growth in the country.
- China market is estimated to grow at the fastest growth rate of 6% CAGR, to arrive at US$ 167.7 Mn by 2033. The growing application of kegs in beverages and pharmaceutical sectors is leading the market expansion.
- The United Kingdom kegs market is expected to achieve a market valuation of US$ 81.5 Mn by 2033 end, exhibiting a CAGR of 4.9% in the coming years. Increasing efforts by the keg manufacturers to release new products with breakthrough technology and authorized by formal regulatory bodies.
- The market is observing increasing preference for kegs having a capacity of 20L to 40L. Large breweries, bars, and restaurants are making use of kegs with this much capacity to preserve beverages, alcoholic or non-alcoholic. The ever-increasing growth of beverage sector is predicted to keep up the demand for kegs.
Trends Shaping the Kegs Market
The kegs market is constantly evolving, driven by changing consumer preferences and technological advancements. Here are some of the noteworthy trends shaping the industry:
1. Rise of Craft Beer
Craft beer has witnessed a remarkable surge in popularity in recent years. This trend has had a direct impact on the kegs market, as craft breweries often prefer kegs to showcase their unique flavors and aromas. The diverse range of craft beer styles has fueled the demand for kegs of different sizes and materials.
2. Smart Keg Tracking Systems
With the advent of technology, keg manufacturers have introduced smart tracking systems to monitor keg inventory and prevent loss or theft. These systems utilize RFID (Radio-Frequency Identification) and IoT (Internet of Things) technologies to provide real-time data on keg location, usage, and maintenance requirements.
Regulatory Compliance
The brewing industry is subject to various regulations and standards that impact keg manufacturing and distribution. These regulations ensure product safety, quality, and traceability. Compliance with these regulations requires breweries to stay updated with the latest industry standards and invest in appropriate equipment and processes.
Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-6666
New Developments Shaping up the Kegs Market:
- In June 2022, Ara Partners (“Ara”) unveiled that it has acquired Petainer Ltd., a global producer of sustainable beverage packaging solutions based in the UK. Ara collaborated with Next Wave Partners LLP affiliates and Petainer Management to make this acquisition.
- In May 2022, BLEFA got together with other major companies dealing in keg supply chain to introduce new Steel Keg Association (SKA) to provide the advantages of steel kegs to beverage companies and breweries, as well as restaurants and bars.
- In May 2021, Lumiere Technologies turned into a new Indian partner of BLEFA. The company is based in Bangalore, and is a subsidiary of the SpectraA Group. The latter is a famous company in the Indian brewery industry as it offers breweries with one-stop platform for all solutions. Likewise, the firm offers a comprehensive solution to soft drink plants, food & beverage establishments, distilleries, and other businesses.
- In January 2020, Blefa Kegs and American Keg revealed technological investment and considerable equity by Blefa in the future growth of American Keg. With this agreement, American Keg is forecast to witness robust growth in employment and production over time.
Given Below are the Kegs Market Segments
Capacity:
- Upto 20 L
- 20 L to 40 L
- 40 L to 60 L
- Above 60 L
- Material:
- Plastic
- Tin
- Stainless Steel
End Use:
- Alcoholic Beverages
- Beer
- Wine
- Spirits
- Cider
- Non-Alcoholic Beverages
- Soft-Drinks
- RTD Beverages
- Juices
- Others
- Cooking Oil
- Chemicals
- Others
Gain Immediate Access to Detailed Market Insights: Purchase Now to Uncover Segment-specific Information, Identify Key Trends, Drivers, and Challenges @ https://www.futuremarketinsights.com/checkout/6666
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com