Yahoo Finance Growlers Market is expected to reach US$ 635.1 Million by 2028 - Comprehensive Research Report by FMI
Growlers Market - Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Global sales of growlers market are estimated to reach US$ 541 Mn in the year 2022 and is expected to reach US$ 635.1 Mn till the year 2028, over the forecasted period the sales at the global level is anticipated to witness the growth of 2.7% CAGR between 2022 and 2028.
Future Market Insights delivers key insights on the growlers market in its published report, titled “Global Growlers Market: Industry Analysis and Opportunity Assessment, 2022–2028.” In terms of revenue, the global Growlers Market is estimated to expand at a CAGR of 2.7% during the 2022-2028, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.
Market Size 2022 | US$ 541.4 Mn | |
Market Size 2028 | US$ 635.1 Mn | |
Value CAGR (2022-2028) | 2.7% | |
Top 3 Countries Market Share 2022 | 42% | |
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Beer Consumption Patterns Are Evolving, Dictating Demand Growth of Growlers
Top alcohol markets such as the US have been moving towards premium beer in recent years, with similar adoption in high-growth emerging markets. For instance, the penetration of premium beer brands has increased 3-4% above valued and mainstream brands, which has impacted the growlers market positively. Simultaneously, the number of independent microbreweries in the US, Germany, and other major economies is also increasing, which is another factor driving the growlers market.
However, markets such as Australia and other Oceanic countries, have witnessed a decline in sales of beer, mostly due to changes in consumption pattern and shift in consumer preference towards other alcoholic beverages. Despite the tough competition faced by beer from different alcoholic beverages, the rise in beer consumption in developing economies such as South Africa, Mexico, and India, is expected to drive the growth of the growlers market during the forecast period.
The primary factors driving the growth of growlers market is the changing consumer demand to experience a large variety of taste and flavors. Moreover, governments in various countries (Oregon being one of the pioneers) are promoting the use of growlers to promote safe storage of alcoholic beverages.
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Scope of the Report
Attribute | Details |
Forecast Period | 2022-2028 |
Historical Data Available for | 2013-2021 |
Market Analysis | US$ Million for Value and 000’ Units for Volume |
Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa |
Key Countries Covered | US, Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, Russia, Turkey, South Africa, GCC Countries, India, China, Australia |
Key Segments Covered | Material, Capacity, Application, and Region |
Key Companies Profiled |
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Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Craft Beer Trending More in Developing Economies
The beer market in emerging economies is largely taken over by the craft beer manufacturers. China is the largest market for beer by volume, accounting for a quarter of the total market share. Therefore, providing an impetus to the growlers market. The consumer trend in China and India is shifting from mass industrial beers to more refined craft beers, which propels the growlers market in the region. The demand for growlers in China and India has significantly increased over the last few years, with both, the rise of local craft breweries and the arrival of a growing number of foreign brands.
Non-glass Growlers Highly Recommended, Growler Sales to Face Challenge from Growing Popularity of Crowlers
FMI’s analysis suggests that developed economies tend to create short-term demand and growlers have emerged as an effective packaging solution to cater to this demand. Their reusability makes them ideal for beer packaging and also helps save packaging costs. However, the beer packaged in clear glass growlers is always probable to lose its flavor. The use of dark glass growlers, ceramic growlers, and stainless steel growlers is thus recommended for long-time storage.
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Breweries spend millions of dollars on their beer packaging lines to ensure low oxygen levels and freshness of beer for a longer period of time. However, beer goes flat within 24-28 hours of opening the growler, irrespective of the type of growler it is stored in. This may lead to a decline in growler production in the near future. Promising growth in the popularity of crowlers as a superior, more convenient alternative to growlers will reportedly hamper the sales of latter in coming years.
Global Vendor Landscape Remains Highly Fragmented in Growlers Market
Key manufacturers in the global growlers market profiled in this report include– William Croxson & Sons Limited, DrinkTanks Corporation, Alpha Packaging Inc., Ardagh Group S.A., Klean Kanteen, Inc., Novio Packaging B.V., Berlin Packaging, LLC, MJS Packaging, Inc., Saxco International, LLC, Boelter Companies, Zenan Glass, Hydro Flask, Global Glass Solutions, GrowlersWerks, Inc., Portland Growlers Co., and ORANGE Vessel Co.
While leading manufacturers in the growlers market are focusing on organic expansion strategies, Alpha Packaging has been one of the prominent players strategizing on growler manufacturing capacity expansion. The company has well-established eight production facilities across the US to attain large scale of production capacity and to be strategically near its core customers.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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