The global craft beer market is expected to reach $502.9 billon USD by 2025, according to a new report by Grand View Research, Inc. The market will witness substantial growth over the forecast period on account of the rising demand for low alcohol by volume (ABV) and flavored beer. Australia, Belgium, Germany, the U.S. and New Zealand are the “major craft beer producing countries” with more than 65 percent of the overall production in terms of value as well as volume. Belgian is the “most preferred” beer among the major craft beer consuming countries; pale ales, IPAs and amber ales were noted as “widely preferred” consumer choices.