The lager market is anticipated to grow at a CAGR of 3.1% and reach a value of US$ 512.26 billion by 2033 from US$ 380.73 billion in 2023.
The market’s growth is primarily influenced by a notable rise in global alcoholic beverage consumption. Market expansion is driven by consumers, particularly millennials, who are increasingly demanding premium and super-premium lager. The trend of exploring a variety of alcoholic beverages in bars, restaurants, motels, and fast-service establishments is gaining popularity.
Numerous companies offer lagers, and there is an emerging trend among consumers who are eager to experiment with new and diverse lager options. Additionally, the introduction of innovative flavors like apple, blueberry, chocolate, cheese, and lemon has played a vital role in the company’s growth. Consequently, these factors are expected to contribute significantly to the increased demand for lager in the forecast period.
Market Opportunities
The lager market is experiencing significant growth, presenting abundant opportunities for businesses and manufacturers. With the global lager industry expanding rapidly, there are ample chances to capitalize on its potential. Moreover, the current trend of people becoming more health-conscious works in favor of the lager market, as lager offers a low-carb and low-calorie alternative compared to other types of beers. This health-conscious shift is likely to further enhance the market’s potential for growth during the forecast period.
The retail sector plays a pivotal role in the lager industry, driving significant sales as many customers prefer purchasing this type of beer. Additionally, lager is also popularly bought in various establishments such as bars, restaurants, and other venues where customers have easy access to lager products.
The current prevalence of smartphones and the widespread use of social media have attracted alcoholic and non-alcoholic beverage manufacturers to promote their products. Many consumers, especially the youth, are active on social media platforms. This makes these platforms highly popular among the younger audience. Consequently, brands are utilizing these social media channels to create advertising campaigns, promote their products, and offer them through online platforms and official websites. This strategic approach is expected to fuel the growth of the lager market significantly during the forecast period.
Key Takeaways
- The global lager sector expanded at a CAGR of 3.1% from 2023 to 2033.
- By 2033, the lager industry is projected to expand to US$ 512.26 billion.
- In 2022, the United States dominated the lager industry with a share of 24.0%.
- In 2022, Germany expanded significantly in the lager industry, with a share of 7.1%.
- In 2022, India is projected to expand significantly in the lager industry, exhibiting a CAGR of 4.1% through 2033.
- Japan emerged as a key player in the lager market in 2022, securing a substantial 4.8% market share.
Competitors Winning Strategies
Competitors in the lager market are employing a wide range of strategies to gain a competitive edge. They are continually innovating by creating new products that cater to customers’ evolving tastes and preferences. Additionally, they are experimenting with novel ingredients to differentiate their offerings.
A key aspect of their success lies in their adeptness at marketing and advertising. Competitors are leveraging various strategies and platforms, such as social media, to reach and target specific consumer segments effectively. Their focus on building a strong distribution network enables them to transfer and deliver products to their customers seamlessly. They can expand their customer base significantly by implementing this strategy.
Certain competitors have managed to establish their own distinct brands, thereby gaining the trust and loyalty of consumers. These brands serve as a valuable tool for customer retention, facilitating easy product recall and recognition. Notable competitors in this market include Ale, Stout, and Porter.
Recent Developments:
- In June 2023, IMPOSSIBREW®, the pioneering beer startup renowned for its nootropic alcohol substitute, Social Blend™, revealed its latest collection of limited edition beers. The newly launched IMPOSSIBREW® Fruited Lager offers a refreshing summer experience with two delightful flavors: Yuzu & Lime Lager and Salted Grapefruit Lager, each boasting a 0.5% ABV and infused with the signature relaxation effects of Social Blend™.
- In March 2023, Braxton Brewing Co. delighted beer enthusiasts with the announcement of their newest craft option to join their lineup of celebrated beers. It introduced Spur, an American Amber Lager meticulously crafted to offer a full-flavored experience that meets today’s consumer needs with unmatched perfection.
- In December 2022, Bira 91 made waves with the introduction of RISE, India’s first-ever premium rice strong lager. This exceptional brew is enhanced with locally sourced rice from India. With an alcohol by volume of less than 8%, this refreshing thirst quencher showcases Japan’s unique Sorachi Ace hops, imparting a delightful touch of subtle lemon citrus aromas.
Lager Market By Category
By Variety:
- Pale
- Vienna
- Dark
By Product Type:
- Standard
- Premium
- Luxury
By Packaging Type:
- Glass
- Metal Can
- Others
By End Use:
- HoReCa
- Household Retail
- Others
By Sales Channel:
- B2B
- B2C
- Modern Trade
- Traditional Liquor Stores
- Specialty Stores
- Online Retail
- Other Retail Formats
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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