The youth population between the ages of 18 to 24 is driving the beer market in APAC.
Arizton’s recent market research report on the beer market in APAC provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by type (craft beer and mass-produced beer), category (premium and mainstream), distribution (on-premise and off-premise), packaging (glass bottles, aluminum cans, and others), and geography (Australia, Vietnam, India, South Korea, Singapore, Thailand, Taiwan, the Philippines, China, and Japan).
The APAC beer market is expected to grow at a CAGR of over 4% during the period 2018–2024.
In 2018, the APAC region accounted for more than 35% of global beer consumption. A growing number of young consumers, the increasing disposable income with the growing economy, and the rising middle-class population are driving the beer market in APAC. The research report offers market share analysis in terms of volume (billion liters) during the forecast period.
The top drivers and trends propelling the growth of the beer market in APAC are discussed below:
Ongoing premiumization of beer
Premiumization is the most significant trend influencing the global beer market. Consumers are willing to pay high price for premium quality products. In China, premiumization is primarily supported by the emergence of an aspirational middle-class population with high disposable incomes. In India, major vendors have launched products such as Amstel, Kingfisher Ultra, Ultra Max, Heineken and Storm, in the last eight years. In Australia and Japan, the growing consumer interest in exploring unique products is driving the demand for premium and high-quality beer products in the market. Lion Australia has also introduced, Iron Jack, which is a low carb, mid strength beer. Thus, premiumization is one of the pillars of strategy for breweries, which is driving the growth of the beer market in APAC.
Innovations in the beer market such as gluten-free, low calorie, low alcohol and non-alcoholic beer are expected to drive the growth of the beer market in APAC during the forecast period. China accounted for the most prolific market for low and non-alcoholic beer, with 29% of beer in China was non-alcoholic or had an ABV of less than 3.5% in 2016. In Australia, approximately beer with low-strength and mid-strength accounted for approximately 5% and 19%, respectively, of the beer market in 2017. The growing number of health-conscious consumers in Australia is primarily driving the growth of low and mid strength beer in the country. Consumers are increasingly shifting toward the consumption of gluten free beer, which is made of millet, barley malt, rye, corn, potato, rice, soybean, sorghum and others. In Singapore, a large proportion of population does not consumer alcohol; among beer drinkers 73% also drinks non-alcoholic beers. Tsingtao introduced a new type of “fresh draft” beer, which is a draft beer sold in bottles. It is more refreshing and smoother than regular beer, and it is ideal for consumption with meals.
The craft beer market share in APAC accounted for approximately 5% of the overall beer market in the region.
Anheuser-Busch InBev, Beijing Yanjing, Carlsberg, China Resources Beer Holding Company, and Tsingtao Brewery are identified as prominent vendors in the beer market in APAC.
The complete overview of the latest market research report on the beer market in APAC by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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