Global Beer Industry: Leading Brewers in a Fragmented Market
How Are Product Diversification and Emerging Markets Impacting the Global Beer Industry?
Beer remains the world's most consumed alcoholic beverage, but the sources of future growth are shifting. The global beer market is moderately concentrated, with the top 5 brewers accounting for around 50% of market share by volume-but emerging market beer growth and premium beer trends may shift this fragmentation.
Morningstar's beer industry analysis finds that global beer volume is set to grow 1.5% annually over the next five years, with emerging markets across Asia-Pacific, Latin America, and the Middle East & Africa driving the bulk of that expansion. Developed markets face a slower path forward, weighed down by health and wellness trends, evolving consumer preferences toward spirits, and softness in disposable income.
As consumers in developing regions gain purchasing power and urbanize, brewers are capturing both volume and value growth. This report examines where volume gains will come from, which brewers hold durable competitive advantages, and how the global beer industry is adapting to changing consumption patterns.
