Albany, NY, May 14, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Beer Market - Latin America and Middle-East Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021" The Latin America beer market was valued at USD 57,091.6 million in 2014, which is expected to reach USD 77,137.4 million by 2021, growing at a CAGR of 4.4% from 2015 to 2021. However, The Middle-East beer market was valued at USD 3,585.5 million in 2014, which is expected to reach USD 4,861.6 million by 2021, growing at a CAGR of 4.3% from 2015 to 2021.In terms of volume, the Latin America and Middle-East for beer was valued at 20,191.6 million liter and 1,044.3 million liter in 2014 and is expected 24,847.9 million liter and 1,209.4 million liter by 2021, growing at a CAGR of 3.1% and 2.1% from 2015 to 2021 respectively.
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Beer is the most widely consumed beverage and is the third most consumed beverage after tea and water. The health benefits of consuming beer are the most important factor fuelling the demand in the Latin America and Middle-East beer market. Due to this reason consumers are shifting their demand towards beer to reduce the health issues. The ingredients that are used in the preparation of beer are water, brewer's yeast, malted barley or wheat and for flavoring hops are added. Increasing awareness of health among consumers, increasing disposable income along with rapid urbanization are the factors driving the demand for this market. The market share for beer is expected to increase during the forecast period. Introduction of organic beer offer better opportunity in the beer market.
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Bitter taste of the beer is one of the factors restraining the growth of beer market. Lager has the largest market share in the beer market and is expected to increase during the forecast period. However, after lager, non-alcoholic beer has the largest market share in terms of revenue and is expected to increase during the forecast period. Due to strict rules and regulations in some parts of Middle-East, alcoholic beverage is strictly prohibited and the demand for non-alcoholic beverage has increased. The manufacturers of beer are introducing organic beers and flavored beers aiming to explore the untapped region of Latin America and Middle-East region to increase the demand for beer.
Latin America is expected to remain the market leader over the forecast period because of the growing health concern among the consumers and the widespread awareness of health among the consumers. Due to stringent rules and regulations Middle-East beer market is expected to have less market share compared to Latin America.
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Lager segment in Latin America and Middle-East accounted for the largest revenue share in 2014. The lager market in Latin America and Middle-East is growing at a CAGR of 4.4% and 3.5% respectively during the forecast period of 2015 to 2021. Latin America is the largest market for lager beer.
Other Reports Published by Transparency Market Research :
- Asia Pacific Beer Market: http://www.transparencymarketresearch.com/asia-pacific-beer-market.html
- Europe Beer Market: http://www.transparencymarketresearch.com/europe-beer-market.html
Major industry participants include Carlsberg Group, Heineken N.V, Ambev S.A, Anheuser-Busch InBev, SABMiller Plc among others. The report studies the Latin America and Middle-East beer market, and provides estimates in terms of revenue (USD million) and volume (million liters) from 2015 to 2021. Market estimates on the basis of product type have also been provided for each region.
The market has been segmented as follows:
Beer Market, by Product
- Dark beer
- Lager beer
- Non-Alcoholic beer
- Stout beer
Beer Market, by geography:
- Latin America
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research