The
beer culture in Europe dates back to several centuries, and this
alcoholic beverage today forms a crucial part of the economy of
several countries. It is interesting to note that several global beer
brands have their roots in Europe. Thus, the beer market in Europe
continues to remain a dynamic space, where innovative products are
essential to growth. While Germany and the UK contribute to a large
share of the demand for beer in Western Europe, Russia and Ukraine
have led to the creation of a burgeoning beer market in Eastern
Europe.
Given
that in Europe, the market for beer is already well established, it
will register a meager CAGR of 2.4%. But even this modest growth rate
could translate into massive revenues because of the sheer size of
the market. The Europe beer market was estimated at US$ 17.01 billion
as of 2014, and will likely be worth US$20.05 billion by the end of
2021.
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Despite
Alcoholic and Non-Alcoholic Substitutes, Beer Market in Europe to be
Positively Influenced by Market Drivers
Since
beer is an inherent part of the culture of several European nations,
the consumption of this alcoholic beverage may not see a steep
incline, but will certainly continue to grow at a steadfast pace. The
three leading types of beers consumed in Europe are: Stout, lager and
ale.
There
are several market drivers at play in Europe’s beer market. The
greatest among these is the perceived health benefits offered by beer
(only when consumed in quantities recommended by physicians). As
evidenced in studies in the past, beer can help limit the level of
cholesterol in blood and can also guard against kidney stone. These
benefits, coupled with a general increase in the disposable income of
European consumers, after suffering the impact of the economic
slowdown, will prove beneficial to the Europe beer market.
Yet,
the restraining effect of certain other factors on the beer market in
Europe cannot be entirely discounted. Beer faces competition from
other alcoholic drinks such as vodka, whiskey, wine, and rum.
Moreover, competition from non-alcoholic beverages and drinks—such
as carbonated drinks, dairy drinks, energy drinks, and coffee and
tea-is also on
the
rise.
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Imaginative
Marketing Campaigns and Innovative Products are Recommended
Strategies for Beer Companies in Europe
The
only way in which beer companies can attain a competitive edge in
Europe is by launching innovative and healthier products that catch
the fancy of consumers. Imaginative marketing and advertising
campaigns will also be important for players in the beer market in
Europe to tap emerging markets in Eastern Europe. A number of
countries here are developing rapidly and carry several
opportunities, which if seized on time, can help companies improve
their bottom line.
Since
virtually every country in Europe has a distinct beer consumption
culture, market players will have to study each market individually
and formulate strategies that can be feasibly deployed. Creating a
stronger distribution chain-especially in the emerging markets of
Eastern Europe-is yet another requisite for growth.
Lager
is the Leading Product in the Beer Market in Europe, While Germany is
Largest Beer Consuming Country in the Region
Pegged
to reach US$20.05 billion by 2021, lager was the largest product type
within the beer market in Europe. The market for lager in Europe was
estimated at US$17.01 billion in 2014. The segment is expected to
post a CAGR of about 2.4% between 2015 and 2021.
Germany
led all other countries in the Europe beer market with estimated
revenues of US$36.22 billion as of 2014. The country’s revenues are
forecast to rise at a CAGR of 1.7% to touch US$40.65 billion by 2021.
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