The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreFeb 2017
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Craft beer growth has begun to rapidly decelerate in its core US market, a possible warning sign for the ever-increasing number of microbreweries in operation. Corporate buyouts and overuse of the “craft” term are adding to a sense of uncertainty regarding the future of the category in mature markets. At the same time, appeal for products with authenticity and heritage continues to spread throughout the world - bringing opportunities and challenges for microbreweries and the wider industry.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
There is no universally agreed upon definition for “craft”. In the US, the Brewers Association has specific requirements that must be fulfilled to be included in its craft brewer category, but debate around the importance of size, ownership and ingredients continues. There is even less clarity elsewhere in the world.
A combination of aspirational consumption and a desire for quality is driving consumers across much of the world to drink less, but drink better. The rise of microbrewers broadly aligns with this trend.
The consumer search for more flavourful beers is an important driver behind the rise of craft, but the trend goes beyond this. Notions of localisation, authenticity and heritage play a key role, as does a desire to avoid what is seen as the established mainstream.
Craft beer growth in the US is starting to decelerate. While this is inevitable to some extent, the speed and severity of the decline is a warning sign that the initial explosive growth period may be coming to an end. While craft is not going anywhere, the number of microbrewers in operation seems highly unsustainable.
While US growth slows, microbreweries are opening across the world as interest in craftsmanship in beer is reaching more and more markets, among younger consumers in particular. Local elements are adding a twist to classic styles.
Attempts at imitation are, understandably, seeing the most success in categories closely related to beer - cider and hard soda. While there are opportunities in soft drinks, growing health consciousness will add extra challenges.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.