Beer is the most widely consumed alcoholic drink across the world. This drink is generally brewed from cereal grains such as maize, rice, and wheat. Moreover, beer is brewed with hops that adds bitterness, stability, and flavor to the beer. Other flavoring agents such as herbs, fruits, and gruit can also be added instead of hops.
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The growth of this market is attributed to rise in consumer preference for beer over other alcoholic drinks. According to the World Health Organization (WHO), in 2016, beer accounted for around 36% of the total alcohol consumption. This is further attributed to high consumption of beer among young people. Therefore, major players are focusing on launching new products to meet the rising demand. For instance, in 2018, MillerCoors Company, introduced a new light beer line named Two Hats, which features the pineapple and lime flavors, targeting the young population.
However, high excise duties and taxations on imported and local beer are key factors restraining growth of the global beer market. For instance, for imported beer in Switzerland, an individual subjected to customs is liable to pay beer excise tax, which includes US$ 17.85 per hectoliter of light beer, US$ 26.78 per hectoliter of regular beer, and US$ 35.71 per hectoliter of strong beer. Moreover, rising health concerns among the populace is expected to further restrain the growth of global beer market.
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Global Beer Market Outlook:
Asia Pacific region dominated the global beer market in 2016 and is expected to retain its dominance over the forecast period. This is due to the increase in expenditure and changing lifestyle of people in this region. India and China are projected to be the growth engines in the region. In 2017, B9 Beverages Pvt. Ltd. expanded its beer portfolio by launching two variants namely; Bira 91 Light and Bira 91 Strong in India. Bira 91 light, is one of the low calorie alcoholic beverage having calorie lower than a glass of breezer, cocktails or champagne. Bira 91 strong is a high intensity wheat beer having 7% alcohol, as large portion of beer sold in India is strong having more than 5% alcohol.
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