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 moreAug 2019
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“Craft” is now an established feature in the global beer landscape. Growth continues to decelerate in the core US market, while the movement is still in its early stages in key emerging markets, such as China and Vietnam. Microbrewers are looking to innovate and diversify due to increasing competition in mature beer markets. Flavours and styles remain a crucial point of differentiation, while shifting consumer trends provide a source of inspiration, but also bring challenges.
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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.
“Independence” continues to gain ground as a key feature of craft. A number of small brewer organisations in different markets have released “seals” which allow brewers to highlight their craft credentials, with the term “independent” featuring prominently. In the US, the Brewers Association has dropped the “traditional” pillar of its craft requirements.
The deceleration of craft beer growth continues in the US. The Brewers Association reported just 4% growth in 2018. In this new environment, there will be a divergence in the market, with the very local microbrewers on one side and the larger craft brewers with national or regional distribution, such as Boston Beer Company, on the other.
Competition in established craft markets is intensifying as growth slows, while new breweries continue to open. Many microbrewers are diversifying their offers by expanding into spirits, kombucha and, especially, alcoholic seltzers. To successfully incorporate new product types into their portfolios, brewers need to ensure there is a close fit with their original beer brands in terms of transparency, branding and quality of ingredients.
A growing middle class and rising urbanisation are helping to drive the growth of craft in Vietnam and China. Microbrewers are opening across the world, focused in the early stages on metropolitan centres, but often quickly expanding beyond the major cities. International brewers are looking to capitalise on this growth through acquisitions.
The development of craft is shaped by the issues and trends affecting the wider beer industry. Microbrewers are tapping into rising consumer moderation, and are taking steps to enhance their sustainability. Such adaptation will continue to prove crucial as fashions change and regulations evolve – those regarding cannabis, for example.
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.