IMARC Group, a leading market research company, has recently releases report titled “India Craft Beer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The craft beer market India is projected to exhibit a growth rate (CAGR) of 27.12% during 2023-2028.
What is Craft Beer?
Craft beer refers to specialized beer that is produced by small, independent breweries on a relatively small scale compared to large commercial breweries. It is handcrafted, often with close attention to detail, ensuring each batch is of the highest quality. It is manufactured with locally sourced ingredients, such as malted barley, hops, yeast, and various fruits, herbs, and spices. It is produced in craft breweries that employ innovative approaches and experiment with new ingredients, brewing techniques, and styles. It is favored by individuals who appreciate diverse flavors, unique brewing techniques, and the individual character of each beer. Furthermore, as it possesses a unique flavor, the demand for craft beer is increasing in India.
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What are the growth prospects and trends in the India Craft Beer industry?
At present, the rising demand for craft beer due to the shifting consumer preferences towards premium and artisanal alcoholic beverages represents one of the crucial factors impelling the growth of the market in India. Besides this, the increasing consumption of alcohol among the masses to cope with work-related stress and anxiety is supporting the growth of the market in the country. In addition, the growing adoption of efficient manufacturing methods to scale up the production of craft beer is offering a favorable market outlook in India. Apart from this, the increasing emergence of craft beer festivals, beer-centric events, and brewpubs enabling brewers to showcase their products and foster a vibrant craft beer culture is contributing to the growth of the market.
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