The Global chocolate beer market size is estimated to grow at a healthy CAGR of 10.3% during the forecast period 2019–2026.
Today, beer is made in different ways, such as by adding chocolate to the brewing process or using chocolate malt. Typically, the style is in the form of stout, which offers rich, tasty, and aromatic flavors.
|Fastest Growing Market||North America|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Young population more commonly prefer something exciting and flavorsome in alcoholic beverages such as chocolate beer and its demand is soaring, especially in developing countries. With the changing lifestyle and increasing disposable income, the market is projected to reach the new plateau of demand in the coming years. This is further supported by the facts that an optimum consumption beer is good for health. The health conscious population have already started asking for beer that is made from dark chocolate.
We believe, by adopting right marketing strategies and targeting right consumer groups, especially, women, manufacturers can grab the potential of current market by channelizing it to generate high revenue.
Geographically, the global chocolate beer market share is segmented into four major regions: North America, Europe, Asia Pacific (APAC), and Latin America and Middle East & Africa (LAMEA).
Europe has huge consumer and production base of flavored beers. For instance, in December 2016, the region had over 7,500 well-known breweries and it has reached over 9400 in 2019, the number is increasing with every passing year. Moreover, the consumption and production witnessed 1% and 1.4% growth during 2014–2015 respectively. It has been found the production and consumption has very little gap in the region. For instance, in 2017, the region produced 397 million hectoliters of beer and consumed over 358 million hectoliters.
North America is expecting a significant growth owing to the increasing demand for chocolate beer products, especially in the U.S. and Canada. For instance, in July 2018, A Canadian Company named as Province Brands developing the world’s first beer called cannabis beer brewed from the marijuana plant. This beer hits you very quickly, which is not common for a marijuana edible. Companies in global market are investing in the research and development of new products for the improvement of product portfolio, which, in turn, is expected to gain higher market share for the companies operating in North America.
Asia Pacific (APAC) is expected to experience strong growth during the forecasted period owing to the increasing expenditure and standard of living. The increasing popularity of chocolate beer among the consumer, especially in countries such as China and India, offers high potential growth for players which is propelling the growth of the market in APAC. According to the World Health Organization (WHO), the Chinese population consumes a wide range of alcoholic beverages which is likely to attract consumer base to the chocolate beer. Additionally, it is estimated that China is one of the largest beer producing countries in the world.
LAMEA is expected to have the firm growth during the forecasted period owing to the low expenditure, developing standard of living, and limited consumption of alcoholic . Middle East global market is likely to experience sluggish growth owing to the religious beliefs of not consuming alcohol. However, the market in Middle East is anticipated to pace up in the next few years due to significant presence of airport duty free retail segment on few of the world’s busiest airports such as Dubai and Abu Dhabi airport.
The global chocolate beer market share is segmented by type, packaging material, distribution channel, and region.
By type, chocolate ale beer, chocolate lager beer, chocolate stout beer, and others are majorly studied. Constantly growing demand for lager beer and flavored lager beer is projected to lead its growth in the years to come. This is expected to be followed by chocolate ale beer.
Based on packaging material, the market is segmented into glass, paper, metal, and others. Today, more number of manufacturers are preferring glass for packing beer bottles as they offer better safety and minimal risk of changing the taste of stored product.
By distribution channel, the market is segmented into on-premises and off-premises. The on-premises segment is expected to account for the major market share owing to growing number of lounges and pubs in the developed and developing regions. The growth is further fueled by their huge offerings and discount on MRP.
Some of the key players in the global chocolate beer market are