The lager market is on a trajectory of steady growth, with a projected valuation of US$ 380.73 billion by the end of 2023, expected to accelerate at a CAGR of 3.1% and reach a market value of US$ 512.26 billion by 2033. Key drivers include the expanding alcoholic beverage market, rising demand for premium alcohol among millennials, and the proliferation of unique flavors in the alcohol industry.
The market’s growth is primarily influenced by a notable rise in global alcoholic beverage consumption. Market expansion is driven by consumers, particularly millennials, who are increasingly demanding premium and super-premium lager. The trend of exploring a variety of alcoholic beverages in bars, restaurants, motels, and fast-service establishments is gaining popularity.
The demand for lager is fueled by:
- Rising Alcohol Consumption: Increasing consumption of alcoholic beverages, particularly lager, is a significant driver of market growth, with lager sales accounting for over 50% of global beer consumption.
- Premiumization Trends: Growing consumer preference for premium and super-premium beer varieties is boosting demand for high-quality lager products worldwide.
- Innovation in Flavor Profiles: Experimentation with unique flavors such as cheese, apple, blueberry, and chocolate is attracting consumers and driving market expansion, catering to diverse taste preferences.
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Key factors contributing to the growth of the lager market include:
- Product Innovation: Ongoing product innovations and flavor diversification are enhancing consumer appeal and driving market expansion, with premiumization trends driving demand for high-end lager products.
- Global Market Expansion: Increasing presence of breweries and distilleries globally, coupled with rising consumer demand for alcoholic beverages, is fueling market growth and creating opportunities for market players to expand their market reach.
- Consumer Trends: Changing consumer preferences, including a shift towards low-alcohol options and a growing interest in experimenting with different alcoholic beverages, are driving demand for lager products, especially in key markets like the USA, Germany, and the United Kingdom.
Key Takeaways
- The global lager sector expanded at a CAGR of 3.1% from 2023 to 2033.
- By 2033, the lager industry is projected to expand to US$ 512.26 billion.
- In 2022, the United States dominated the lager industry with a share of 24.0%.
- In 2022, Germany expanded significantly in the lager industry, with a share of 7.1%.
- In 2022, India is projected to expand significantly in the lager industry, exhibiting a CAGR of 4.1% through 2033.
- Japan emerged as a key player in the lager market in 2022, securing a substantial 4.8% market share.
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Competitors Winning Strategies
Competitors in the lager market are employing a wide range of strategies to gain a competitive edge. They are continually innovating by creating new products that cater to customers’ evolving tastes and preferences. Additionally, they are experimenting with novel ingredients to differentiate their offerings.
A key aspect of their success lies in their adeptness at marketing and advertising. Competitors are leveraging various strategies and platforms, such as social media, to reach and target specific consumer segments effectively. Their focus on building a strong distribution network enables them to transfer and deliver products to their customers seamlessly. They can expand their customer base significantly by implementing this strategy.
Certain competitors have managed to establish their own distinct brands, thereby gaining the trust and loyalty of consumers. These brands serve as a valuable tool for customer retention, facilitating easy product recall and recognition. Notable competitors in this market include Ale, Stout, and Porter.
Recent Developments:
- In June 2023, IMPOSSIBREW®, the pioneering beer startup renowned for its nootropic alcohol substitute, Social Blend™, revealed its latest collection of limited edition beers. The newly launched IMPOSSIBREW® Fruited Lager offers a refreshing summer experience with two delightful flavors: Yuzu & Lime Lager and Salted Grapefruit Lager, each boasting a 0.5% ABV and infused with the signature relaxation effects of Social Blend™.
- In March 2023, Braxton Brewing Co. delighted beer enthusiasts with the announcement of their newest craft option to join their lineup of celebrated beers. It introduced Spur, an American Amber Lager meticulously crafted to offer a full-flavored experience that meets today’s consumer needs with unmatched perfection.
- In December 2022, Bira 91 made waves with the introduction of RISE, India’s first-ever premium rice strong lager. This exceptional brew is enhanced with locally sourced rice from India. With an alcohol by volume of less than 8%, this refreshing thirst quencher showcases Japan’s unique Sorachi Ace hops, imparting a delightful touch of subtle lemon citrus aromas.
Key Takeaways for Investors:
- Investment in Premiumization: Opportunities exist for investors to capitalize on the growing demand for premium and super-premium lager products by supporting brands that focus on quality, unique flavor profiles, and premiumization strategies.
- Market Expansion Strategies: Investing in market expansion initiatives, particularly in emerging markets with growing alcohol consumption trends, can help investors tap into new growth opportunities and diversify their investment portfolios.
- Innovation and Differentiation: Supporting breweries and distilleries that prioritize innovation in flavor profiles, packaging, and marketing strategies can drive competitive differentiation and market success in the dynamic lager industry landscape.
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Lager Market By Category
By Variety:
- Pale
- Vienna
- Dark
By Product Type:
- Standard
- Premium
- Luxury
By Packaging Type:
- Glass
- Metal Can
- Others
By End Use:
- HoReCa
- Household Retail
- Others
By Sales Channel:
- B2B
- B2C
- Modern Trade
- Traditional Liquor Stores
- Specialty Stores
- Online Retail
- Other Retail Formats
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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