Kegs Market 2024 Expectations & Growth Trends Highlighted Until 2034
Kegs Market 2024 Expectations & Growth Trends Highlighted Until 2034
Blog Article
The global kegs market is poised for significant growth, with its value anticipated to reach USD 916.1 million in 2024. This market is projected to expand at a steady CAGR of 2.1% from 2024 to 2034, ultimately reaching a market value of USD 1.12 billion by 2034. The growing adoption of kegs by alcoholic beverage manufacturers to preserve the authentic flavor of their drinks is a key factor driving this expansion.
The beer market, in particular, is gaining momentum due to consumer preferences for premium and flavored varieties, alongside an increase in brick-and-mortar beer keg sales. Rising beer consumption is expected to further boost the demand for kegs over the next decade.
In addition to beer, the demand for kegs is benefiting from the growing popularity of flavored alcoholic beverages. This trend is driven by evolving consumer lifestyles, increased per capita income, and a preference for premium products such as craft and draught beverages.
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Breweries are increasingly prioritizing sustainability in the beverage packaging sector, leading to a growing preference for recyclable and environmentally friendly materials like steel kegs over other variants such as plastic kegs.
Moreover, the demand for keg-transported cooking oil is rising, fueled by changing consumption patterns, improved living standards, and higher discretionary income.
Key Trends Influencing the Kegs Market:
High Demand for Kegs in Homebrewing and Microbreweries:
The rise of homebrewing and microbreweries has led to a surge in demand for customized beer options and smaller keg sizes. This trend allows brewers to experiment with diverse formulas and market niches, establishing a new consumer base for beer kegs.
Advancements in Smart-Kegs Technology:
The alcoholic beverage sector is undergoing a transformation due to the adoption of smart keg technology, which enhances product quality, operational efficiency, and the overall consumer experience. The demand for kegs equipped with integrated Internet of Things (IoT) features is on the rise, allowing real-time tracking, inventory control, and quality assurance across the beverage supply chain.
Key Takeaways from the Kegs Industry:
- The U.S. keg market is projected to grow modestly at a CAGR of 1.0% through 2034, driven by a substantial number of suppliers and keg-based businesses.
- In the U.K., the beverage sector is expected to grow at a CAGR of 1.2% from 2024 to 2034, with the craft beer and cider industry driving demand for metal kegs to ensure product quality and freshness.
- China’s keg manufacturing industry is forecasted to experience significant growth with a CAGR of 3.9% from 2024 to 2034, as producers focus on creating reusable kegs to reduce waste and support a circular economy.
- Japan’s craft beer culture is fueling demand for taproom kegs, with the market anticipated to grow at a CAGR of 1.8% through 2034, as consumers increasingly seek unique, artisanal experiences.
- India’s hospitality industry is seeing a rise in microbreweries and brewpubs, boosting the demand for kegs, with an expected CAGR of 5.7% from 2024 to 2034 due to the growing popularity of craft beer experiences.
Market Players Shaping the Outlook of the Kegs Industry
Market participants shape the worldwide kegs business by merging and acquiring companies, expanding product offerings, entering new markets, and improving their competitive position. To meet worldwide keg demand, industry companies are investing in increased manufacturing capacity. By optimizing production facilities and processes, they ensure that high-quality products are delivered on time and that market potential are realized.
Key Companies in the Kegs Market
- American Keg Company, LLC
- NDL Keg Inc.
- Shinhan Industrial Co, Ltd
- Ningbo BestFriends Beverage Containers Co. Ltd
- Blefa GmbH
- Schaefer Container Systems
- Petainer UK Holdings Ltd
- Ardagh Group S.A.
- Julius Kleemann GmbH & Co KG
- The Metal Drum Company
- THIELMANN – The Container Company
- Maisonneuve Group
Recent Developments in the Kegs Market
- In February 2024, Freedom Brewery, a British premium lager producer, launched a new contract brewing service to help producers meet increasing demands. With over US$ 2.68 million invested in production facilities, they offer brewing, bottling, canning, and kegging services.
- In February 2024, Tilray Brands planned to streamline its keg supply chain by transitioning to MicroStar’s comprehensive outsourced keg management solution, ensuring efficient, sustainable, and high-quality growth.
- In February 2024, Community Groceries partnered with Tea-Biotics Kombucha to open Missouri’s largest kombucha taproom, focusing on peach pineapple and grapefruit hibiscus flavors, replacing the former Community Groceries Crossroads Market.
Key Market Segmentation
By Capacity:
- Up to 20 L
- 20 L to 40 L
- 40 L to 60 L
- Above 60 L
By Material:
- Plastic
- Tin
- Stainless Steel
By End User:
- Alcoholic Beverages
- Non-alcoholic Beverages
- Cooking Oil
- Chemicals
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa