Market analysis
Last updated
Last updated
The size of the global beer market is projected to increase its turnover by more than 30% within the next decade. In this context, worldwide delivery services play a crucial role. Thanks to an increasing capability in delivering worldwide and collaborations with local producers, more and more people all over the world have gained access to high-quality artisan beers produced by small and microbreweries. Usually, Clients' attachment to a brewery is related to two main factors: beer quality and brand recognition.
The global pandemic has also accelerated a partial transition in consumers' habits. Starting from the mid-2010s, the number of customers who prefer to enjoy their beloved craft beers at home is rapidly increasing. In this scenario, product accessibility turns out to be a vital factor in the rapid growth of microbreweries across Europe and the USA, as shown in the graph below.
Nowadays, people are able to enjoy high-quality artisan beer at home from all over the world, at an accessible cost. Millennials are the typical profile of this group of consumers, with a recent inflow of youngsters from Gen-Z mainly speeded up by the Covid pandemic.
In this regard, a study, based on Nielsen Datasets, tracks beer purchases made by more than 100,000 US households from 2004 to 2018. In 2004, craft brews made up 5 percent of the beer sold in the US take-home market and generated 5.3 percent of revenue. By 2018, they more than doubled their volume share to 12 percent and quadrupled their revenue share to 20 percent. Millennials accounted for only 1 percent of the craft beer purchased by volume in 2004, simply because so few of them were old enough to purchase alcohol legally. But by 2018, they bought 20 percent of the craft beer sold. From 2004 to 2018, as the millennial share of the craft-beer market soared, every other generation’s share fell. By 2018, sales data showed that millennials were buying 34 percent of craft beer, compared with 20 percent for baby boomers (born 1946–64) and 13 percent for the Greatest Generation (born before 1928). Half of the millennials said they drank craft beer, compared with 36 percent of the country overall.
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