Portland, OR,, Oct. 10, 2019 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the was pegged at $32.91 billion in 2018, and projected to garner $70.13 billion by 2025, growing at a CAGR of 11.4% during the forecast period. The off-trade segment is anticipated to manifest the fastest CAGR of 12.0% during the study period. However, the market across Europe held the largest share in 2018, accounting for nearly half of the market.
Rise in disposable income, changing consumer preferences, and increase in number of on-premise distribution channels are the major drivers for the global India pale ale market. Moreover, the increase in surge in youth population and average number of female drinkers supplemented the market. However, fluctuating raw material prices and taxation and higher excise duties on imported as well as local beer hinder the market growth. On the other hand, emergence of organic alcoholic beverages, rise in millennial population, and increase in social media marketing are expected to create lucrative opportunities in the near future.
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The India pale ale market is divided on the basis of distribution channel, age group, and geography. Based on distribution channel, the market is divided into on-trade and off-trade. The on-trade segment dominated the market, accounting for more than three-fifths of the market, due to unique sale strategies adopted by bars, coffee shops, and clubs. However, the off-trade segment is anticipated to manifest the fastest CAGR of 12.0% during the study period.
On the basis of age group, the market is divided on the basis of 21-35-year-old, 40-54-year-old, 55 years and above. The 21-35-year-old segment held the largest share in 2018, contributing more than half of the market. In addition, the segment is estimated to register the fastest CAGR of 11.9% during the forecast period, owing to rise in off-premise spending due to increase in pub and nightlife culture among millennials.
The market across Europe held the largest share in 2018, accounting for nearly half of the market, owing to trend of premiumization and willingness of consumers to pay a premium for an alcohol product. Moreover, the region is estimated to portray the fastest CAGR of 11.9% through 2025.
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The India pale ale market report offers an in-depth analysis of the major market players such as Diageo PLC, Anheuser-Busch InBev, Erdinger Brewery, Carlsberg Group, Oettinger Brewery, Heineken N.V., BAVARIA N.V., Lasco Brewery, and Radeberger Brewery.
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