Europe Beer Market to Witness Widespread Expansion by 2029
The most striking feature of the Europe beer market is its diversity. An array of players of different sizes and having a range of product offerings operate in it. This also makes the market for beer in Europe cutthroat. To surge ahead of their rivals in such an environment, vendors are banking upon competitive pricing strategies and focusing hard on quality. They are also leveraging astute distribution strategies and building brand recall to promote product sales.
SAB Miller PLC, Carlsberg Group, Diageo, Anheuser-Busch InBev, and Heineken N.V. are to name a few of the prominent participants in the Europe market for beer. A report on the market published by Transparency Market Research finds that its valuation would rise to US$87.6 in 2016 from US$100.80 bn by 2021.
Among the products being sold in the market, lager beer is seen grossing maximum revenue because of solid demand from Slovakia, Poland, and Czech Republic. By end of 2021, this segment is predicted to attain a valuation of US$20.05 bn. From a geographical standpoint, Eastern Europe is considered an attractive beer market which spells massive opportunities for manufacturers by dint of being relatively under-tapped. Apart from that presence of well-known local brands and modern distribution channels is also positively impacting the market in the region.
Non-alcohol and Low-alcohol Beer Central to Europe Market’s Growth
Mainly stoking the market for beer in Europe is the popularity of non-alcohol and low-alcohol beer in the region. This is on account of the rising awareness about the toxicity of alcohol which can have an adverse impact on one’s health. However, in moderate proportions it can be beneficial for health. Adds the lead analyst of the report, “Spain is a prominent market for low-alcohol and non-alcoholic beer in Europe. Effort by producers to formulate better products by fortifying them with nutrients is filliping the entire the Europe market.”
One USP of beer pushing up its sales is its health benefits. It is known to keep the kidneys fit, cure insomnia, and lessen cholesterol level. The soluble fiber present in lager beer also aids in digestion and reduces chances of intestinal transit. Further, beer helps in improving density of bone due to its significant silicon content.
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Eastern Europe takes the Lead in terms of Consumption
Eastern Europe offers a significant untapped potential opportunity for beer manufacturers to capitalize upon. Russia and Ukraine – the growing markets of Eastern Europe offer several expansion opportunities for beer manufacturers, hence expected to show a positive growth in the coming years. The major driving factors in this region include the long tradition of alcohol consumption in Eastern Europe, increasing disposable income of consumers, strong domestic brands, and modernization of distribution systems. In addition, the middle class consumers are looking at alternate options, thus propelling the beer industry in Eastern Europe over the forecast period.
The key players in the Europe beer market include Diageo, SAB Miller PLC, Carlsberg Group, Anheuser-Busch InBev, and Heineken N.V
For More Information About Market:
https://www.transparencymarketresearch.com/casestudies/food-and-beverages-case-study
