PUBLISHER: Grand View Research | PRODUCT CODE: 1552600
PUBLISHER: Grand View Research | PRODUCT CODE: 1552600
The global malt beverages market size is expected to reach USD 1,300.60 billion by 2030, growing at a CAGR of 7.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Since the 1990s, flavored malt beverages (FMBs) have evolved significantly from pioneers like Mike's Hard Lemonade and Zima, which introduced the concept of neutral malt base (NMB) to create a sweeter and more approachable alternative to traditional beer and spirits. This innovation has led to the growth of a dynamic and diverse category that continues to captivate consumers. The category now includes various types of malt beverages such as traditional beer, hard seltzers, hard teas, hard sodas, and ready-to-drink (RTD) cocktails, each offering unique flavor profiles that cater to a wide range of preferences. This variety has played a crucial role in maintaining the relevance and popularity of FMBs among a broad audience.
One of the key trends propelling the demand for FMBs is the growing consumer preference for healthier ingredients and lower-calorie options. Hard seltzers, for instance, have gained immense popularity by marketing themselves as "Better For You" products, often highlighting their lower calorie and carbohydrate content compared to traditional beers. This shift towards healthier alternatives is reflective of broader health and wellness trends influencing the beverage industry. Additionally, the convenience factor of RTD cocktails and other FMBs aligns well with the modern consumer's fast-paced lifestyle, offering a quick and easy way to enjoy a flavorful alcoholic beverage without the need for extensive preparation.
The global beer market is experiencing robust growth, with a significant surge in the popularity of craft beer, driven by millennials and Gen Z. Independent breweries are leading innovation, offering diverse flavors and styles. This trend bodes well for malt beverages, as the demand for unique, high-quality, and locally crafted options rises. Large beer manufacturers are expanding their portfolios through strategic acquisitions, catering to evolving consumer preferences. The craft beer movement's emphasis on variety and quality is expected to bolster the overall demand for malt beverages in the coming years.
The rising popularity of non-alcoholic beer presents a significant growth opportunity for the malt beverages market. As more consumers embrace healthier lifestyles and the "sober curious" movement, both craft and macro-breweries are expanding their non-alcoholic offerings. This shift reflects an increasing demand for diverse, high-quality malt beverages that cater to those seeking the social experience of beer without alcohol. The growing popularity of non-alcoholic beer is opening new opportunities in the malt beverages market. Prominent players like Molson Coors with Blue Moon, Diageo with Guinness, Constellation Brands with Corona, Heineken, and AB InBev with Bud Zero are entering this segment , showcasing a strong market shift. The category in the U.S. now has around 150 non-alcoholic U.S. brands, reflecting its solid footing and expansion.
In July 2024, Athletic Brewing Company, a notable non-alcoholic brewery in the U.S., secured USD 50 million in an equity financing round spearheaded by General Atlantic, a top global growth investor, along with several existing investors. Athletic intends to utilize the new funds to foster sustained long-term growth, which includes acquiring a third brewing facility in the U.S. and expanding its non-alcoholic beer presence in retailers worldwide.