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Beer is one of the most consumed alcoholic beverages in the world and the most consumed in Asian countries. With an alcohol content of around 4-6% by volume, beer is available in affordable and premium forms. Although the beer market in Asia Pacific is relatively at a nascent stage compared to markets in developed regions, viz. North America and Europe, the beer market in Asia Pacific has grown tremendously in recent years.
Currently, more than 50% of the APAC population is under 35 years of age. Furthermore, the middle class population that prefers a lifestyle influenced by Western culture is growing rapidly in recent years. This has been an important factor in driving beer sales in this region. Trends Market research assesses the Asia Pacific beer market in detail, in order to provide growth prospects over a six-year forecast period 2017-2025.
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APAC Beer Market: Drivers and Constraints
Increasing population, increasing disposable income, and growing acceptance of alcohol consumption are also identified as the key factors most likely to have a positive impact on the market. A sizeable young workforce is spending more on beer and other alcoholic beverages for fun and relaxation. The increasing adoption of Western culture will be a long-standing market driver. The habit of drinking is becoming more common today, which is likely to support the growth of the beer market for years to come.
The growing number of liquor stores and retail and convenience stores will add to the growth of the market. Furthermore, a growing number of restaurants and bars serving beer is expected to accelerate the growth of the beer market in this region. Several breweries host annual or seasonal beer festivals, further contributing to the growth of the market. This will continue to sustain demand throughout the forecast period. Beer is available in a wide range of shapes, tastes and flavors, which will stimulate your demand at a significant rate.
Rapid urbanization and changing consumer preferences are expected to exert a strong positive influence on the beer market in APAC. Also, more people are turning to beer consumption to take advantage of its health benefits, which in turn drives demand in the market. The advent of technology used in the improvisation of beer performance and quality is identified as an important factor that will complement the growth of the market during the forecast period. Light beers are gaining more traction since the recent past due to growing consumer concerns about obesity and other lifestyle disorders.
However, growing health concerns, high fiscal mandates, and the immediate availability of better quality beer substitutes may remain the main challenges for the growth of the beer market in APAC. Uncertainty in commodity prices is also expected to restrict market growth. Additionally, legal regulations on the sale and consumption of beer will continue to hamper both the production and sale of beer for years to come.
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APAC Beer Market: Trends and Opportunities
Strategic mergers and acquisitions and expansion plans in Asian countries are among some of the top trends among major brewers. Constant new and innovative product launches in attractive packaging and unique marketing tactics will continue to be popular trends with growers. Sustainable beer production is another important trend observed in the beer market. Additionally, gluten-free beers and ciders are trending on the market, creating a number of growth opportunities for brewers.
The promising introduction of premium craft beers indicates the potential for craft beer to eventually break into the mainstream. Beer consumers are becoming increasingly aware of unconventional flavors, which will present lucrative opportunities in the near future. The emergence of handmade or personalized beers is another trend that has recently hit the APAC beer market and is expected to gain popularity over the next decade.
APAC Beer Market: Segment Analysis
The Asia Pacific beer market is primarily segmented based on product type. There are three key segments.
• Economy
• Conventional
• Premium
Mainstream has accounted for a significant portion of revenue over the years; however, it is identified that the premium beer segment will witness solid growth during the forecast period 2017-2025.
APAC Beer Market: Regional Perspective
The Asia Pacific beer market is regionally classified as:
• China
• India
• Japan
• South Korea
• Singapore
• Australia
• Vietnam
• Others
However, China will remain a key market for beer during the forecast period. The increase in the drinking population in Asian countries, especially China, India and Japan, is mainly driving the demand for beer in the APAC market. While China and Japan represent larger markets, India, South Korea and Singapore are still in a growth stage. Other key markets in the Asia Pacific beer market include Vietnam, Australia, and others.
APAC Beer Market: Key Players
The beet market in APAC is highly competitive, accommodating a large number of international and regional players. Some of the leading companies participating in the market are Beijing Yanjing Brewery, Asahi Breweries, Anheuser-Busch InBev, China Resources Enterprise, San Miguel Brewery, and Tsingtao Brewery.
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