The popularity of beer in Europe is on the rise while the popularity of wine in Asia Pacific is rising. The global alcoholic beverages market is witnessing dynamics changes due to shifting consumer preferences. Consumers in Europe have traditionally favored wine; however, the share of beer in the European market is steadily rising. Let us look at the trends that are driving the demand for beer in this regional market.
Rising Disposable Income Levels Driving Europe Beer Market
The rising awareness of consumers regarding the health benefits of beer is supporting the growth of the Europe beer market. Drinking beer in moderate amounts provides health benefits such as more flexibility of arteries and improvement in blood flow. According to a study, drinking a pint of beer can help improve the state of blood vessels located around the heart. In addition to this, the rising disposable income levels of consumers will further fuel the demand for beer in Europe.
Although the consumer base for beer in Europe is growing, the market will be restrained by the growing consumption of substitute products. Some of the alcoholic substitutes for beer available in the European market are vodka, whiskey, wine, rum, and others. Energy drinks, dairy drinks, coffee, tea, and carbonated drinks are some of the non-alcoholic substitutes for beer in this regional market.
Another issue that will challenge the Europe beer market is the seasonality associated with particular types of beer. Seasonal beers are generally brewed for a particular season, festival, or holiday. These beers are available during particular seasons as per the climatic conditions during the time of the year.
France to Witness Highest Growth in Europe Beer Market till 2021
By type, the Europe beer market is divided into stout beer, lager beer, and ale beer. The Europe beer market is dominated by the lager beer segment. In 2014, the lager beer segment was worth more than US$17.0 bn and by 2021, it is projected to be worth more than US$20.0 bn. The lager beer segment of the Europe beer market is expected to expand at a 2.40% CAGR during the forecast period from 2015 to 2021.
By country, the Europe beer market is divided into France, Spain, Italy, the U.K., Germany, and Rest of Europe. France is the fastest growing national market in the Europe beer market. During the forecast period, France is projected to expand at a CAGR of 4.20% in the Europe beer market. In 2014, the France beer market was worth over US$11.7 bn and by 2021, it is projected to be worth more than US$15.5 bn.
Germany is the largest producer and consumer in the European beer market. In 2014, the Germany beer market was estimated at US$36.2 bn and by 2021, it is projected to be worth over US$40.6 bn. The Germany beer market is projected to progress at a CAGR of 1.70% during the forecast period. In Eastern Europe, Ukraine and Russia are the most attractive markets.
Players in the Europe beer market will benefit from the rising opportunities presented by the Eastern Europe region. Some of the key players operating in the Europe beer market are Diageo, SABMiller, Heineken, and Carlsberg Group.
Browse the full Europe Beer Market report at http://www.mrrse.com/europe-beer-market