NEW YORK (Commodity Online): World's most favorite alcoholic beverage, beer, continues to be the hot favorite of people around the globe and is expected to grow with the recovering economies, according to a report by Global Industry Analysts, Inc.
The beer gained popularity mainly due to the low alcoholic contents which attracted the consumers who wish change their drinking to sfaer alcoholic varieties and beer with less than 5% consumed widely as refreshment and for mild relaxation.
The global beer consumption increased by 2.4% during Calender year 2011.The Asian beer market grew by 6% last year to reach 650 mhl, and now accounts for over a third of global beer consumption.
Austria, Germany and Ireland are the only other markets where beer consumption exceeds 100 litres. Despite witnessing extremely strong growth, per capita consumption of beer in India remains one of the lowest in the world at just 1.5 litres.
Meanwhile, Chinese beer market is predicted to reach over 600 mhl by 2016, making it almost twice the size of USA.
During the recession period in 2008, the beer industry was down on reduced consumption andc production mainly due to large number of unemployment.
The market, nevertheless staged a recovery in the years 2010 & 2011, in sync with improvements in economic conditions.
Now the beer makers around the globe are introducing new variety especially sweet beer to attract womens and have introduced novel beers such as milk beer, fruit-infused beer and flower beer.
Presently England is the top beer producing nation and Ireland is the top consuming nation in the world.
