Asia Pacific Beer Market to Reach US$220.3 bn by 2020 despite Stringent Regulations to Curb Beer Consumption among Youngsters

2024-11-04 02:49:10 Lifestyle

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Despite the implementation of several government regulations to curb alcohol consumption, particularly among youngsters, the Asia Pacific beer market is likely to exhibit positive growth at a 5.0% CAGR between 2014 and 2020. In a recently released report, Transparency Market Research has pegged the value of the Asia Pacific beer market at US$155.9 bn in 2013. By the end of 2020, the market will reach US$220.3 bn according to the report.

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Asia Pacific Beer Market Capitalizes on Rapid Urbanization

The Asia Pacific beer industry has exhibited impressive growth over the past five years, with countries such as China, India, Vietnam, South Korea, Singapore, and Japan experiencing a significant rise in overall sales volume. Due to rapid urbanization and rising disposable income across the aforementioned countries, many brands are experiencing tremendous success in the Asia Pacific beer market. Several factors have aided this exponential rise in beer consumption in the Asia Pacific region. Likewise, the incessant popularity of craft beer has paved the way for a new generation of brewers to dominate the market. The rise of the beer market in the Asia Pacific region has been a phenomenal success story. Right from their start to the annual sales, beer companies in the region have only grown stronger with time. Furthermore, the consumption statistics reveal a rapid rise in the number of female beer drinkers, thereby fuelling overall demand from the Asia Pacific beer market.

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Increasing Disposable Incomes ? A Major Factor Fuelling Demand from Asia Pacific Beer Market

The average income of the working class of the society has significantly increased over the last few years. This increase in disposable income has made people more willing to dine out and spend more on beer. Additionally, this has encouraged customers to spend more on premium beer. To capitalize on the lucrative prospects, an increasing number of bars and restaurants have opened across the major countries of Asia Pacific, thereby giving an incredible boost to the beer market in the region. Growing population and high acceptance of the Western lifestyle also act in favor of the beer market in Asia Pacific.

China and Japan Lead Asia Pacific Beer Market

In 2013, China emerged as the largest market for beer in Asia Pacific, trailed by Japan. The growing population and increasing disposable income of people living in China, particularly the working class, are the key factors aiding growth of the beer market in the country. Apart from China, the beer industry also has lucrative markets in countries such as Vietnam, South Korea, India, and Singapore. Many of these countries observe relaxed rules and regulations for brewing businesses owing to the economic benefits the industry offers. This is a significant factor boosting the Asia Pacific beer market.

Vendor Landscape of Asia Pacific Beer Market

Owing to the presence of intense rivalry, the Asia Pacific beer market has assumed a concentrated nature. The top five players in the market constitute over 51% of the overall market. Some of the leading players operating in Asia Pacific beer market are Beijing Yanjing Brewery, San Miguel Brewery, Tsingtao Brewery, Anheuser-Busch InBev, China Resources Enterprise, Kirin Holdings, and Asahi Breweries.

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