The forecasted market size of Craft Beers in the UK indicates a steady decline from 942.76 million kilograms in 2024 to 886.81 million kilograms by 2028. Compared to the actual figures of 2023, the forecast for 2024 reflects this downward trend. Year-on-year variations reveal consistent negative growth, with percentage decreases observed in each subsequent year.
Key variations:
- 2025 vs 2024: -1.53%
- 2026 vs 2025: -1.54%
- 2027 vs 2026: -1.51%
- 2028 vs 2027: -1.51%
The Compound Annual Growth Rate (CAGR) over the forecast period (2024-2028) depicts an average yearly decrease in volume, illustrating a sustained contraction in the market.
Future trends to watch for:
- Shifting consumer preferences towards healthier and non-alcoholic beverages.
- Innovation in craft beer formulations to lure back health-conscious segments.
- Potential market saturation and economic factors influencing discretionary spending.
- Regulatory changes impacting production and sales of alcoholic beverages.
