The global lager market is expected to reach a market valuation of US$ 370 Bn by the end of 2022, accelerating at a CAGR of 2.9% during the forecast period (2022-2032). Lager sales are likely to account for ~55% of the demand in the global beer market, valued at US$ 677 Bn in 2022.
Rapid expansion of alcoholic beverage market is one of the key factor driving the demand in the market. In addition, rising consumption of premium alcohol, particularly among millennials, is improving the demand for premium and super-premium beer.
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Experimenting with a variety of alcoholic beverages available at bars, restaurants, motels, and fast food outlets is becoming increasingly popular. Also, invention of unique flavors such as cheese, apple, blueberry, lemon, and chocolate in alcohol is expected to provide an impetus to the growth in the market.
How Does Lager Market Historic And Future Outlook Compare?
Lager sales grew at a CAGR of 2.6% during between 2017 and 2021, as per Future Market Insights (FMI). Growth in the market is predicted to rise with increasing presence of market players and product innovations in the alcohol industry. The sales in the market are expected to grow at a CAGR of 2.9% during the forecast period (2022-2032).
Lager is the most popular type of beer, accounting for more than 50% of global consumption, according to FMI. Consumption of lager is on the rise, according to craft brewers and retailers, as preference for palatable options is surging than the high-alcohol, hoppy IPAs, and other craft beers.
Lagers are preferred over ales as they have a lighter, clearer appearance, lower alcohol level, and a sweeter, smoother, crisper flavor due to higher sugar content, slower fermentation, and cold treatment.
The yeast and brewing procedures have the greatest impact on these factors, with additional tastes and post-fermentation handling also having a significant impact on the final product. On account of these factors, FMI predicts the demand in lager market will reach from US$ 370 Bn in 2022 to total US$ 492.4 Bn by the end of 2032.
Country-Wise Insights
How is the U.S. Lager Market Shaping?
Rising Consumption of Alcohol Coupled with Presence of Numerous Brewery in the U.S. to Push Sales
Beer is the most widely consumed alcoholic beverage in the U.S., according to the study. In terms of demand, the U.S. lager market is expected to gain traction over the upcoming decade with the growing consumption of alcohol and the increasing presence of breweries in the country.
According to the National Epidemiologic Survey on Alcohol and Related Conditions, around 24 million U.S. adults consume over 74 drinks per week on average. Numerous breweries and distilleries across the country respond to the tremendous demand for alcoholic beverages.
However, 30% of the population of the U.S. is a teetotaler, which might affect the growth in the market. As per FMI, the U.S. lager market is expected to hold more than 80% of the North American market, in 2022 which is expected to grow at a CAGR of 2.2% between 2022 and 2032.
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How will Rising Demand for Pale Lager Propel the Sales in the German Market?
Germany Lager Market to Benefit from Growing Popularity of Pale Lager
The most popular beer style in the world is pale lager, which outsells all other styles in terms of consumption, opines FMI. Pale lager is moderate and light, with a low alcohol content and is the most preferred in Germany. Growing popularity of pale lager, particularly the Bavarian pale lager variety, will influence the sales in the market.
Pale lager is expected to be the third most popular beer style after pilsner and wheat beer. With increasing consumption of pale beer, FMI estimated the pale beer accounted for 8.1% of demand share in 2021 and the trend is likely to continue in upcoming decade, fueling lager sales.
What is the Demand Outlook for the U.K. Lager Market?
Growing Intake of Low-Alcohol Beer to Improve Lager Sales in the U.K.
Sales of low-alcohol beers have been increasing as a result of growing demand from health-conscious consumers and a larger selection of new varieties with superior taste. A trend toward low-alcohol beers and ciders has emerged as a result of surging awareness about alcohol unit intake and customers’ enthusiasm to try new beverages.
This trend can be seen in the volume demand for lager in the U.K., where off-license and supermarket sales are increasing at a rapid rate. This is expected to boost the demand for lager in the U.K., with sales rising at a CAGR of 3% in the coming decade.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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