Home Beer Growing Inclination toward Non-Alcoholic Beer Will Pave the Way for New Opportunities for the Market Players

Growing Inclination toward Non-Alcoholic Beer Will Pave the Way for New Opportunities for the Market Players

The global beer market is anticipated to grow at a significant CAGR of 2.7% from 2021 to 2030.

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Over the years, rapid urbanization and an increase in the disposable income of the people made a way for a shift in consumer preferences towards beer and other alcoholic beverages, particularly among young, potential drinkers in the developed economies. Moreover, rise in the number of craft breweries and the emergence of flavorful and strong beers to augment industry growth drive the global beer market. According to Allied Market Research, the global beer market is anticipated to grow at a significant CAGR of 2.7% from 2021 to 2030.

Nowadays, Beverages with a low alcohol level or fully alcohol-free are becoming more popular in the market than traditional alcoholic drinks. This inclination is due to growing consumer awareness of the significant health risks associated with alcohol consumption. In response to the evolving market trends and customer behavior, market players are investing in innovation and the launch of quality beverages that fits in with the diverse lifestyles of individuals of legal drinking age.

A leading non-alcoholic craft beer company, Athletic Brewing, is all set to announce the launch of Athletic Lite, an extraordinarily appealing, refreshing, everyday non-alcoholic beer. Athletic Brewing combines numerous trends in a March Madness-themed campaign that introduces its first-ever “light” product and is geared to compete with its competitors. As per the company, this non-alcoholic iteration is crisp, zero-hangover, quaffable, with only five carbohydrates and twenty-five calories. While the product appears to be a natural evolution for the brand’s portfolio, it is a whole new non-alcoholic beverage that elevates the brand’s wellness positioning in the industry.

The consumption of alcoholic and non-alcoholic beverages is a growing trend among youngsters, thus providing lucrative opportunities for market growth. Market players are adopting strategic collaborations to enhance their product offerings and improve the consumer base. Mill Street Brewery and Toronto FC, two iconic Toronto firms, have established a new partnership heading to the Toronto football club’s 16th season. Under the agreement, Mill Street Brewery will be the official beer of Toronto FC and the lead beer brand at BMO Field in 2022. In addition to the development of this alliance, Mill Street Brewery will also collaborate with TFC in a variety of ways, including:

#AllForOne Beer Series – Mill St. will launch a limited-edition #AllForOne beer collection, another addition to its brewpub innovations for the event. The latest collection will be accessible only in the Toronto Mill St. Brewpub, which will begin in spring 2022.

BMO Field Activations – Mill St. will be present at BMO Field with activations at every home game, thus adding to the immersive game day experience. It will offer an improved match-watching experience with an in-stadium beer garden and a visual presence with several in-stadium displays.

Man of the Match – TFC’s fan-voted Man of the Match will be honored with a post-game trophy, and Mill St.’s will be the lead sponsor.

TFC Watch Parties – the Mill St. Brewpub in the historic Distillery District will host exclusive watching parties for each away game this season, with a special “Red Menu” of customized food and drink deals that are suited for game day.

To further promote the relationship and celebrate TFC’s return to Ontario, Mill Street Brewery will be active on social media platforms with event and game-day content along with some contests with exciting tickets and merchandise.

Among several partnerships, innovative marketing, and product launch strategies, market players are taking some interesting and bold initiatives to expand their business and improve the consumer base. One such eye-catching initiative is the launch of the Little creatures ALL CREATURES WELCOME platform, which is aiming to promote diversity in the market. LION has reintroduced Little Creatures to become Australia’s most inclusive beer. The new brand strategy and platform, developed in collaboration with 72andSunny Sydney, intends to modernize Australia’s oldest craft beer brand to welcome and accommodate a new generation of enthusiasts.

The brand has teamed up with the Sydney Gay & Lesbian Mardi Gras team to become their primary beer sponsor for the next three years. 72andSunny developed the experience strategy for this engagement, selecting the Sydney Gay and Lesbian Mardi Gras as a partner, and then closely worked with Lion and its partners to execute the strategy across all touchpoints. According to the company, this is more than simply a sponsorship; it’s an opportunity to let everyone know that All Creatures Are Welcome.

The outbreak of covid-19 has impacted the global beer market. The regulations on import-export trade activities during the initial phase of the pandemic created various challenges for exporters of beer in developing and developed nations. During the pandemic, the beer manufacturers have intensified their online market to attract a wider audience and increase sales. Moreover, as the world is getting back to normalcy, the beer industry is anticipated to witness a growing demand, and the market will recoup soon.

Author’s bio:

Vaishanavi Kumbalwar is a fun-loving, independent, unconventional and original thinker who loves to put her thoughts into words. She holds a bachelor’s degree in Mechanical Engineering and currently working as Senior Associate Content Writer at Allied Market Research. She thrives on challenges and loves to explore different writing styles to bring off her fondness for being a writer and blogger. She is an enthusiast of different cultures, places and cuisines and loves to travel off the tourist path and explore new things.

Linked in- https://www.linkedin.com/in/vaishanavi-kumbalwar

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