The beer market - Italy

The size of the global beer market will grow from USD 851.15 billion in 2024 to USD 1,172.13 billion by 2032, with a compound annual growth rate (CAGR) of 4.03% during the forecast period.Europe dominated the market with a 33.77 percent share in 2023. Beer is one of the most popular beverages globally compared to any other alcoholic beverage and is gaining immense popularity, especially among Millennials and Generation Z, due to its various formulations, varieties, and flavor offerings. Between 2023 and 2029, the value of the European beer market shows steady growth, rising from $277.38 billion to $372.99 billion. Alcoholic beverages play an important role in all European countries and are an integral part of the region's culture, heritage and nutrition. The European Union is one of the leading beer-producing areas in the world. L'alcohol industry in Europe is a diverse sector, composed mainly of small and medium-sized enterprises, including microbreweries and breweries that operate locally, regionally or nationally. From 2023 to 2029, the Italian market is projected to grow steadily, with an overall increase of about 35 percent and a compound annual growth rate (CAGR) in line with that of Europe of just over 5 percent. Per capita consumption of beer in Italy has increased significantly, rising by more than 11 percent, showing a growing interest among consumers and a positive market trend. In terms of market structure, the number of companies active in beer production in Italy has grown significantly, showing an increase of 76.5 percent in six years, as well as the number of employees operating with an increase of 25,2%.