Rise in disposable income, surge youth population, rise in number of on-premise distribution channel, surge in social media marketing expected to propel growth.
PORTLAND, OR, UNITED STATES, December 1, 2021 /EINPresswire.com/ — India Pale Ale Market by Distribution Channel (On-Trade and Off-Trade) and Age Group (21-35-Year-Old, 40-54-Year-Old, 55 Years and Above): Global Opportunity Analysis and Industry Forecast, 2018–2025″. According to the report, the India pale ale market accounted for $32.91 billion in 2018, and projected to garner $70.13 billion by 2025, registering a CAGR of 11.4% during the forecast period.
Incentives for market growth
Increase in disposable income, changing consumer preferences, rise in number of on-premise distribution channels, and surge in youth population and average number of female drinkers have boosted the growth of the global India pale ale market. However, volatile raw materials prices and taxation and higher excise duties on imported and local beer hamper the market growth. On the contrary, advent of organic alcoholic beverages, increase in millennial population, and rise in social media marketing are expected to create lucrative opportunities in the near future.
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On-trade segment dominated the market
The on-trade segment held the largest share in 2018, contributing more than three-fifths of the global India pale ale market, owing to unique sale strategies adopted by bars, restaurants, coffee shops, and clubs. However, the off-trade segment is projected to register the fastest CAGR of 12.0% during the forecast period, owing to sale strategies and tactics adopted by hypermarkets and supermarkets.
21–35 years old segment held lion’s share
The 21–35 years old segment held the largest share in 2018, accounting for more than half of the global India pale ale market. Moreover, the segment is projected to register the fastest CAGR of 11.9% during the forecast period. This is due to increase in off-premise spending owing to rise of pub and nightlife culture among millennials.
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Europe held largest share; followed by North America
The market across Europe held the largest share in 2018, contributing nearly half of the global India pale ale market. This is due to trend of premiumization and willingness of consumers to pay a premium for an alcohol product that offers an authentic experience coupled with increase in number of microbreweries. Moreover, the region is anticipated to manifest the fastest CAGR of 11.9% during the forecast period. On the other hand, North America held more than two-fifths of the total market.
Forerunners of the market
The global India pale ale market report includes an in-depth analysis of the major market players.
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