World: Global craft beer market forecast to reach US$242.79 bln by 2033

The global craft beer market is forecast to reach US$242.79 billion by 2033, registering a compound annual growth rate (CAGR) of 9.5% between 2025 and 2033, according to a recent report by Indian research firm, Straits Research, Asia Brewers Network reported on January 29.

The market, valued at US$107.28 billion in 2024, is projected to grow to US$117.47 billion in 2025 as small, independent breweries continue to capitalise on quality, innovation, and community engagement.

Craft beer, also referred to as microbrews, typically features specialty ingredients and artisanal brewing methods. In contrast to mass-produced beers, which can rely on lower-quality grains and additional water for cost savings, craft beers generally offer a more distinctive flavour profile. Moreover, some markets, such as the United States, limit microbreweries to producing no more than six million barrels annually to maintain their craft designation, as defined by the Brewers Association.

Industry analysts attribute surging demand for low-alcohol and non-alcoholic craft beers that service increasing health consciousness in consumers as an important driver of growth in the sector. This trend is particularly pronounced in Europe, where breweries are refining the taste of low-ABV (alcohol by volume) offerings – often 2.8% or below – to cater to a broader consumer base. Younger demographics, including Millennials and Gen Z, are also playing a significant role in driving sales owing to their preference for healthier, yet still flavourful, beverage choices.

The Asia-Pacific region leads global craft beer consumption according to the report, with markets such as India and China seeing a surge in interest in craft brews among younger drinkers. According to the World Health Organization, India’s 1.43 billion population offers considerable scope for expansion as local tastes evolve toward artisanal and lower-alcohol brews.

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