Novel upfront technology and planning in framing turnkey designs of timber frame buildings are set to provide higher growth to the market over the long-term forecast period. Integrated frame designs are anticipated to cut construction schedule times by nearly 50%, and the overall cost of labor as well that is incurred with conventional building methods. Also, lowered cost of construction and at...
Global craft beer landscape has undergone considerable change over the last decade. Small local breweries have made their way into main stream and are preparing fresh beers. The increase in trend of breweries, lounging and bars fuel the growth of craft beer industry. Independent breweries that make and serve beer attract customers and are getting popular day by day. Consumers’ point of view has changed and they target breweries for social gatherings and enjoyments. Craft brewery is generally owned by local manufacturers and industry heads of beverage segment hold less than 25% of craft brewery. Young generation focuses on drinking quality craft beers with different styles which prompts brewers such as pale ale manufacturers to add variable amount of malt in production to produce a different type of craft beer.
Microbreweries are preferred
The craft bear industry is evaluated to be US$76.310.7 Mn in 2019 and is expected to grow at ̴7% CAGR by 2029. Microbreweries are preferred for producing craft beer over large-scale corporate breweries. Microbrewery industry is flourishing and it generates ample opportunities of growth in many areas. For instance craft beer raw materials like malt generate lucrative opportunity in terms of job for the various activities associated with like availability and transport.
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Packaging is considered a crucial factor affecting the sale of craft beer. Around 7000 breweries in United States are estimated to compete in craft beer packaging by innovating and attracting customers. The can size of craft beer is also very important and more than 73% customers prefer can size that can be handled easily during commutation. Allagash Brewing Company has announced to sell Allagash White in 16oz cans to enhance their sale.
North America dominated craft beer industry
The competitive landscape of global craft beer industry is ever evolving. East Asia is expected to grab the leading position from North America. Various factors like increase in disposable income, and macroeconomic changes are positively influencing the growth of global craft beer industry. Craft beer is lately been popular in India due to the growing adoption of western culture and life style that revolves around bars and pubs. Korea has also witnessing growth in craft beer consumption and the number of craft beer brewers has reached 100. North America has dominated the craft beer industry for long and owns more the 36% of its market share. Major players in North America are now diverting their attention towards providing flavored craft beer. The growth in number of operating breweries was estimated to be 12-14% in 2018 along with fast paced increase in microbreweries population.
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Craft beers are facing flack to some extent for the adverse effect of excessive bear consumption. It can negatively affect brain by degrading neuron activity. WHO statistics suggest towards 3.3 million annual deaths that are caused by excessive consumption of alcohol. Moreover, the negative impact extends to the liver which can cause life-threating situations.
Prominent players of global craft beer ecosystem are Atrial Rubicite by Jester King Brewery, Seed by Bissell Brothers Brewing Co., Grapefruit Sculpin by Ballast Point Brewing Co. and Avance by Allagash Brewing Co.