Lager Market is likely to expand at a prominent CAGR
Date: 2018-11-15   Author: Rahul Sankrityayan  Category: #market

Lager Market is likely to expand at a prominent CAGR

Global Lager Market size has witnessed a high owing to expansion of beer industry globally. Increase in demand for premium beer products will drive the product demand. Some of the major key indicators which will fuel the industry growth are demographic changes, shift in lifestyle and rising disposable income.
Increasing awareness regarding health benefits in consumers will enhance lager market size. Several manufacturers are experimenting by introducing new flavours including apple, lemons, cheese, chocolate, tequila and blueberry which will help the lager market to evolve rapidly. However, presence of internal substitutes including rum, gin whisky and vodka coupled with external substitutes named, juice, energy drinks and carbonated drinks may hamper the industry growth.
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Beer is the world oldest and widely consumed drink and is divided into lager beer, ale beer and stout beer. Among these, lager market is escalating quickly due to high consumption of this product among consumers. The product is fermented at low temperatures between 38ºF to 50ºF which slows down the yeast activity and takes prolong time to mature. It is available in pale, amber, dark and golden colour. The key raw materials used product preparation includes yeast, hops, malt and water.
Lager market is divided into two types named, standard and premium. Standard beer holds the major portion in this industry, however, premium beer is expected to induce due to its high customer demand. Frequent change in customer preferences will be one of the major trends in reinforcing the industry growth.
The product generates high demand from hotels, restaurants & bars, nightclubs, wine shops, supermarkets and online retails. Amongst, restaurants & bars and nightclubs holds a major industry share which is attributed to its large customer base. Globally, e-commerce has emerged in various countries which is helping in delivering beers and other alcoholic drinks at home.
North America, dominated by the U.S. lager market is expected to grow significantly owing to high consumption of both standard beer and premium beer among young population between 18 to 21 years old. Rapid urbanization and globalization in the region has changed the outlook of the industry. Lager market is emerging vigorously with growing number of bars & restaurants and nightclubs in the region. New competitors with advanced brewing techniques introducing innovative beers will further change the position of lager market.
Europe lager market is the fastest growing region due to their tradition of consuming alcohol in the region. The most critical factor for upsurge in demand for beer is health benefits associated with it. Some known benefits are reducing cholesterol and diabetes, keeping kidneys healthy, strengthening the bones and decreasing cardiac risks. Beer is an alcoholic luxury drink and is much preferred beverage in several European countries including Germany, Italy, Russia and France.
Asia-Pacific is anticipated to be the fastest growing region for lager market due to rapid industrialization and development. Growing young population and increasing disposable income in emerging economies including India and China has increased the beer demand. Other factors driving the product demand are changing demographics & lifestyle in the region. In addition, shifting consumer taste & preferences and impact of western culture will fuel the market.  Emerging population in countries including Vietnam, Singapore, Australia and South Korea will drive the regional industry.
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Lager market is highly competitive with the presence of several regional and international industry players. Some of the leading key vendors are AB InBev, SAB Miller, Carlsberg, Corona, Heiniken, Asahi, Beck’s Brewery and Budweiser. Other prominent players are Birra Menabrea, Diageo, Forst, Royal Unibrew, Molson Coors, The Boston Beer, UB group, Kirin Holdings, New Belgium Brewing and Bitburger Braugruppe.
Companies are adapting new strategies to sustain in the industry including, new product launch and mergers & acquisitions. In February 2016, Singha, a subsidiary of Boon Rawd Brewery launched new lager beer named “U Beer” with 5.0% alcoholic content, available in two sizes (320 ml and 620 ml), in Thai region. The new product launched by this company is attracting many tourists and young population due to its smooth taste and product design.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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