Market Overview
Several factors contribute to the robust growth of the Asia-Pacific Lager Market. One significant driver is the rising disposable income among the region's population, leading to increased spending on leisure activities such as dining out and socializing. Additionally, the growing popularity of western-style dining and the influence of global beer brands have fueled the demand for lager in the region.
The global Lager market size is projected to reach approximately USD 400 Billion by 2030, at a CAGR of around 3% from 2022 to 2030. An increase in the demand for lagers is due to its growing adoption in bars, hotels and cafeterias among others. As world economies continue to improve and as consumers increase their purchasing power, more and more individuals have the means to purchase a wide variety of goods and services. As a result, consumer preferences for a range of different products and services in emerging markets, including China and India are expected to grow rapidly during the forecast period. Due to this, the global beer-drinking population is on the rise and has been a significant contributor to the recent popularity of this beverage within the industry. Furthermore, technological advancements made to existing production equipment have enabled companies to make lagers of high quality.
The noteworthy companies in the lager market are:
v Anheuser-Busch InBev
v United Breweries Limited
v Carlsberg A/S
v Diageo Plc
v Squatters Pubs and Craft Beers
v Lakefront Brewery Inc
v Anchor Brewing Co., LLC
v Founders Hill Brewing Co., LLC
v The Boston Beer Company
v Sierra Neveda Brewing Company
Market Drivers:
Evolving customer knowledge of the product's health benefits will drive market expansion. Beer has a variety of proteins, vitamins, and natural antioxidants while being low in calories, carbs, fat, and cholesterol. These nutritional characteristics aid in preventing cardiovascular disease and the rehabilitation of muscles. Nowadays, the proliferation of smartphones and the expanding use of social media are enticing alcohol and non-alcoholic drink manufacturers and advertising media businesses to market their products on social media. Furthermore, due to shifting customer preferences for good beer, demand has skyrocketed in the past. Furthermore, advancements in brewing processing technologies, combined with the use of the best quality raw ingredients, have improved the overall attributes of the product.
Market Restraints:
The beer market is very competitive, and it is predicted to become more so during the forecast period. Because of their low alcohol level, beers are frequently swapped for vodka, bourbon, rum, and gin. Sports drinks and fizzy drinks are the main alternatives for beer, and they are also expected to harm market growth. The demand for non-alcoholic beverages is predicted to rise as consumers' health concerns grow, as does their demand for fewer alcoholic beverages.
Market Segmentation
By Product Type
The premium sector is expected to be the fastest expanding Lager market during the forecast period. Because of the range of items available in the market, the segment will likely increase rapidly. Beer consumption increases as it becomes more popular in pubs, restaurants, and hotels
By Distribution Channel
Examples of off-trade distribution channels are supermarkets and hypermarkets, grocery stores, independent retailers, off-licenses, online businesses, and others. Paulaner USA, the exclusive importer of the famed Paulaner Brewery portfolio and other luxury beverage alcohol brands in the United States, announces the availability of its popular Paulaner Münchner Lager in a convenient new 12-pack. The new container, which response to consumer demand, is the ideal size for parties, gatherings, and outdoor events. It is now available in 11.2 oz bottles, 16.9 oz cans, and a new 12-pack variant and is regarded as one of the world's most popular lagers. Its popularity can be partly due to its exceptional formula, which provides the ideal combination of malty flavor and hop bitterness. It is a real classic with its bright, gold dazzling color and pristine white head.
Regional Insights
Because of major competitors in the region, North America is the leading regional market. One of the reasons lager is popular in this region is that it differs per country and has distinct flavors. Additionally, luxury items, such as beer are drawing new customers. The fruit pulp is being added to lagers in France, Spain, Italy, and Germany, among other countries, to make them more appealing to millennials. Lager consumption has increased in the Asia Pacific as local consumers began to value and search for beverages that would help them unwind. As disposable income rises, more lager brands are consumed, resulting in higher domestic and imported lagers sales. In addition to expanding market demands and population interests, societal standards are shifting due to exposure to modern society, which influences customer preferences for lager over other alcoholic drinks. For instance, Old Time Lager is the official release of this delightful, thirst-quenching, and indisputably crushable locally brewed lager. This revitalized brand, a modern rendition of the Hopfheiser Brewing Company's American light lager from 1935, brings the premium lager back to the district for the first time in at least 100 years. Old Time Lager, brewed using North American 2-row barley and flaked corn, has a crisp, dry taste and a light body.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.