The global premium lager market is projected to attain USD 219.9 billion by the year 2025. It is expected to grow with a CAGR 4.5% over the forecasted years, 2019 to 2025. The demand for Premium lager is predicted to rise due to its health benefits related to mental stress, cardiovascular issues, anxiety issues, and kidney problems. Moreover, adaptation to the western culture within the middle-class income group and the rise in disposable income in the evolving economies like India and China are expected to surge the market demand.
The leading countries of the Asia Pacific namely India and China are predicted to spectate the fastest growth due to rising demand for working-class professional over the next few years. In 2018, China has a population exceeding 400 million, which is higher than Western Europe and the U.S. Therefore, leisure spending on pubs and restaurants visit is predicted to rise. The rise in consumption of products like premium lager is expected to surge over the next few years.
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On-trade channels are anticipated to be worth USD 135 million by the end of 2025. New restaurants and bar joints opened by companies like The Bar Stock Exchange and B-Dubs offering a complete experience of alcoholic products, including premium lager over the last few years. Moreover, growing trends like dine-out and after drinking culture at an international level are projected to encourage the visibility of resto-bars for a lager soon.
The off-trade channel is predicted to remain as one of the major selling channels for customers in evolving countries like India and China as they provide products in retail price. Moreover, services like combo packs and gift packages are attracting more customers towards this channel. Due to hectic workstyle of working-class professionals, after drinking culture is gaining momentum and is projected to drive customers to use these channels for procuring alcoholic drinks including premium lager via off-trade channels like beer shops.
Product innovation is a key strategy adopted by key players in the market to gain competitive advantage over other companies operating in the same line of business. Breweries Pvt. Ltd. And Woodpecker Distilleries in September 2018, announce the launch of premium lager under the brand name, Blackfort, in India.
Further key findings from the report suggest:
- Conventional product types escalated the global premium lager market accounting for a share in revenue of 54.6% in 2018. This growth is the result of low prices and easy accessibility in comparison with craft product types at a global level.
- The off-trade distribution channel escalated the market with a CAGR of 5.0% in the forecasted period. These products are procured through conventional stores, hypermarkets and liquor stores.
- Europe has created its dominance in the global market, in 2018. This fad is expected to remain constant for the next few years on account of the prevailing consumption of products in the leading market such as the U.K., France, and Germany.
- Product innovation is projected to remain a crucial element of success for premium lager producing firms.
Global Premium Lager Market: Key Players
Carlsberg Breweries A/S, Anheuser-Busch InBev SA/NV, Heineken N.V B9 Beverages Pvt. Ltd., and Constellation Brans.
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Health-related problems such as diabetics, prevention of minor fractures, blood pressure and fungal infection can be dealt with the consumption of premium lager products.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/global-premium-lager-market/request-sample The key driving factors responsible for the growth of Premium Lager market : Moreover, trends of adopting western culture like alcohol consumption in office parties can be a significant factor propelling the premium lager market.
New market opportunities are expected from the tremendous shift of rural population towards urban areas in the developed countries mentioned above along with their adoption to western culture.
Recently, various agencies such as the U.S. TTB (Alcohol and Tobacco Tax and Trade Bureau),and the U.S. EPA (Environmental Protection Agency) have been incorporating strict norms on emissions and packaging related to the manufacturing of beer.
Moreover, other norms include legal issues related to age limit, consumption and sale of alcohol are projected to negatively affect the demand-supply over the forecast period.
Product InsightsIn 2018, traditional premium beer held the largest share with 54.6%s.
June 19, 2019: The global lager market size is expected to reach USD 492.69 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% over the forecast period.
Consumption of premium beer in developed economies including Germany, U.K., and France is projected to exhibit significant growth owing to rising importance of bar culture on a domestic level.
Moreover, consumers are changing their consumption habits and looking for innovative products with enhanced nutritional properties, which is expected to prompt the utility of lager.Asia Pacific is anticipated to witness substantial growth on account of improving standard of living and increasing number of alcohol consumers, especially in India and China.
According to a report of World Health Organization (WHO), over the decade ending 2016.Download sample Copy of This Report at: https://www.radiantinsights.com/research/lager-market/request-sample The annual alcohol consumption in India reached 5.7 liters per person, which is almost double as compared to the consumption in 2006.
For instance, in October 2018, Anheuser-Busch Companies, LLC launched an Italian craft lager in U.K.
These new product launches are expected to expand the scope of the lager in the foreseeable future.Browse Full Report With TOC @ https://www.radiantinsights.com/research/lager-market Further key findings from the study suggest:In terms of revenue, the premium product segment is likely to expand at a CAGR of 4.5% from 2019 to 2025.
The global lager market size is expected to reach USD 492.69 billion by 2025, according to a new report by Radiant Insights, Inc., expanding at a CAGR of 4.3% over the forecast period.
Consumption of premium beer in developed economies including Germany, U.K., and France is projected to exhibit significant growth owing to rising importance of bar culture on a domestic level.
According to a report of World Health Organization (WHO), over the decade ending 2016, the annual alcohol consumption in India reached 5.7 liters per person, which is almost double as compared to the consumption in 2006.
For instance, in October 2018, Anheuser-Busch Companies, LLC launched an Italian craft lager in U.K.
In addition, in March 2016, Steinlager Tokyo Dry, a dry premium lager, was launched in New Zealand.
Rising importance of craft beer in developed economies including Germany, France, Italy, and Russia is projected to have a positive impact on the market growth over the next few years • Key players operating in the market include Heineken N.V., Carlsberg Group, Anheuser-Busch Companies, LLC, China Resources Snow Breweries Limited, Diageo, Molson Coors Brewing Company, Tsingtao Brewery Company Limited, ASAHI BREWERIES, LTD., Castel Group, and Kirin Brewery Company • Product innovation is expected to remain a critical success factor among industry participants over the next few years.
