Beer - Iceland | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Beer market amounts to US$52.8m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$182.5m in 2024.
Revenue, combined amounts to US$235.4m in 2024.
The revenue, at home is expected to grow annually by 0.34% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$78bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$139.90 are generated in 2024.
In the Beer market, volume, at home is expected to amount to 9.3m L by 2024.
Volume, out-of-home is expected to amount to 9.9m L in 2024.
Volume, combined is expected to amount to 19.2m L in 2024.
The Beer market is expected to show a volume growth, at home of -3.3% in 2025.0.
The average volume per person, at home in the Beer market is expected to amount to 24.56L in 2024.

Definition:

The Beer market includes fermented alcoholic beverages based on malt. Non-alcoholic beers are also covered.

Structure:

The Beer market is divided into 2 markets:

Alcoholic Beer (minimum alcohol content: 0.5% ABV)
Non-Alcoholic Beer (maximum alcohol content: 0.5% ABV)

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Anheuser-Busch InBev (e.g., Corona, Bud Light, and Michelob), Heineken, China Resources Snow Breweries, Carlsberg, and Diageo (Guinness).

Beer of all sorts (Lage, Pilsner, Ale etc.)
Beer Mix Drinks, such as Krombacher Radler
Non-alcoholic Beer, such as Heineken 0.0
Craft Beer, such as Blue Moon

Wine, such as Red Wine
Spirits, such as Whisky

The Beer market in Iceland has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Icelandic consumers have shown a growing preference for craft beer and premium imported beers. This shift in preference can be attributed to a desire for unique flavors and high-quality products. Additionally, there has been an increasing demand for low-alcohol and non-alcoholic beer options, reflecting a broader trend towards healthier lifestyles and moderation in alcohol consumption.

Trends in the market: One of the key trends in the Icelandic beer market is the rise of microbreweries. These small-scale breweries have gained popularity due to their ability to produce innovative and artisanal beers that cater to specific consumer tastes. This trend is in line with the global craft beer movement, which emphasizes local production and unique flavors. As a result, the market has become more fragmented, with a wider range of beer options available to consumers. Another trend in the market is the growing popularity of beer festivals and events. These gatherings provide an opportunity for breweries to showcase their products and for consumers to explore different beer styles and flavors. Beer festivals have become a social and cultural phenomenon in Iceland, attracting both locals and tourists. This trend has contributed to the overall growth of the beer market by increasing awareness and interest in different beer varieties.

Local special circumstances: Iceland's unique geography and climate play a role in shaping the beer market. The country's volcanic soil and pristine water sources contribute to the production of high-quality ingredients, such as barley and hops. Additionally, the cold climate in Iceland has led to a tradition of beer consumption, with locals often enjoying a cold beer to warm up during the long winter months. These local special circumstances have created a favorable environment for the beer industry to thrive.

Underlying macroeconomic factors: Iceland's strong economy and increasing disposable incomes have also played a role in the growth of the beer market. As consumers have more purchasing power, they are able to afford higher-priced craft beers and premium imported brands. Additionally, the country's thriving tourism industry has contributed to the demand for beer, as visitors from around the world seek to sample local brews and experience the Icelandic beer culture. In conclusion, the Beer market in Iceland has experienced significant growth due to changing customer preferences, emerging trends, and local special circumstances. The rise of craft beer, the popularity of beer festivals, and the country's unique geography and climate have all contributed to the expansion of the market. With a strong economy and increasing disposable incomes, Iceland is likely to continue to see growth in its beer industry in the coming years.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Like in most of the world, beer has been an integral part of American culture since the beginning. Even prohibition was not able to fully stop the sale of beer, only pushing it underground. In 2022, the United States was the second largest country in worldwide beer production with a production volume of about 194 million hectoliters, following only China. Craft beer has become an increasingly important part of the American market.