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Global Beer Kegs Market 2021: By End User (Steel, Plastic, Others)Global Beer Kegs Market is the title of an upcoming report at Trusted Business Insights. The report includes global consumer trends, product types, applications and end-use revenue and value, segment, region, and country revenue share, global market growth rate, Compounded Annual Growth Rate, and forecast till 2029. In the report, various aspects and scenarios, current and future, have been examined and understood thoroughly to arrive at all findings. The report offers in-depth insights about the global beer kegs market and focuses on findings related to available product types, applications, challenges, and current consumer trends. Sales and growth factors are also mentioned in detail, along with key industry trends, restraints, Y-O-Y growth, CAGR, as well as future forecast & opportunity map analysis. In addition, PEST analysis, Porters Five Forces analysis, and value chain analysis have been analysis and presented in the final version of the report. Data has been validated thoroughly through inputs and opinion of industry experts, and supporting data and information added in the report to further strengthen all findings. The company profile section contains details of key players, including their revenues, strategies, recent developments, business segments, acquisitions, and mergers, revenue and change in growth rate (percentage), product launch-announcements, etc. The global beer kegs market report has been segmented on the basis of raw material, and regions and countries. The Global Beer Kegs market size was valued at USD $36.8 Billion in 2020, USD $38.09 Billion in 2021, forecasted to reach USD $39.43 Billion in 2022, and is projected to reach USD $51.92 Billion by 2030, and is anticipated to expand at a CAGR of 3.5% over the forecast period from 2020 to 2030.
Introduction and Dynamics:Beer kegs are vessels or containers designed and produced to hold beer during the fermenting, storage, and transportation processes. Kegs are made from wood, stainless steel, and aluminum. Kegs have a single external opening known as a ‘bung and a tube called a ‘spear, which extends from the opening to the other end. Besides being important for holding beer or serving as a vessel, kegs allow built-up gas escape into the head space (above the beer) via an exit on the underside of a valve. This is critical, as the gas pressure forces the beer up through a tube that extends from the valve down to the bottom of the keg. Kegs help to maintain the authentic quality and flavor of alcoholic beverages over long durations. Draught beer is mostly served from kegs, and the gas or bubbles in the beer need to be maintained at a high pressure to ensure good flavor and taste. Shifting consumer preference toward premium beer and flavored varieties is among some of the key factors driving growth of the global beer kegs market. The rising trend of on-premise brewing and consumption is expected to fuel market growth. In addition, market growth is driven significantly by increasing consumption of beer among younger consumers, especially millennials and teens, in developed and developing countries worldwide. Shift away from stronger drinks and drinks with higher alcohol percentage has been gaining traction globally. Demand and consumption of drinks and beverages such as whisky, rum, vodka, brandy and others has been witnessing a slow but steady decline. Studies and survey results have indicated that over 65% of male consumers in the US aged between 18 and 29 years prefer beer over other alcoholic beverages. This trend is projected to continue in future, and support growth of the global beer kegs market to a significant extent over the next five years. Increasing development and introduction of more flavored alcoholic beverages is a trend observed in the global beer kegs market. This, coupled rising demand for more premium products such as craft beer and draught beer variants, driven by changing lifestyle, adoption of western culture, increasing health-consciousness, and increasing per capita income and spending capacity among consumers globally, are among other driving factors. Sustainability is a crucial factor that companies are focusing on in the overall global packaging industry. As a result of rising concerns and focus on more eco-friendly packaging and storage options and materials, usage of recyclable and more environment-friendly materials are being introduced and used.
Regional Analysis:The global production and consumption volume of beer kegs has been increasing at a steady rate in the recent past. Europe accounted for substantially high volumes in the past few years, and increasing consumption of beer and cider is among some of the primary driving factors driving growth of this market in the region. Popularity of beer and secondary cask fermentation has been gaining popularity, and has resulted in increasing preference for steel barrel kegs of varying capacities. In addition, preference for craft and locally produced beer offered by micro-breweries has been supporting for kegs. Craft beers such as Zaganu, Hophead, Ground Zero, Klausen Burger, and Hop Hoollgans are produced at micro-breweries, and are popular brands in the market in Europe. Asia Pacific is expected to register highest CAGR during the forecast period, owing to increasing consumption of beer in countries such as China and India.
Below are the leading companies profiled in this Beer Kegs Market Report:
Chapter 1 Methodology and Scope