Global warming is likely to trigger more frequent droughts in barley-growing regions such as the U.S. northern prairies and the Asian steppe, the study said.
Climate change threatens the world with drought, rising sea levels, powerful storms - and a global beer "crisis", say researchers.
"Climate change will affect all of us, not only people who are in India or African countries", coauthor Dabo Guan of the University of East Anglia in the United Kingdom tells Reuters. Instead, he told CNN, we have to work to stop it.
"Current levels of fossil fuel consumption and Carbon dioxide pollution - business as usual - will result in this worst-case scenario, with more weather extremes negatively impacting the world's beer basket", said co-author Nathan Mueller, an assistant professor of Earth system science at the University of California, Irvine (UCI).
Only the highest quality grain - less than 20 percent - is used to make beer, with most of the rest used as feedstock. The researchers then used economic models to interpret the real-term financial impact that shortages could have on the beer industry.
Under the most severe scenario for a decline in crops, the price of beer could as much as double in some countries, they found. That equals out to about 29 billion litres less. The biggest consumer of beer today, China, is expected to see a drop of 4.34 billion litres.
However, the study's authors noted that different regions of the world will experience the change in quantity and price differently.
Just 17 percent of the world's barley crops are harvested to brew alcohol, while most of it goes to feed livestock.
Climate change could reshape the barley and beer market, the researchers say, depicting a situation where China - which now drinks more Budweiser than the US - would scale back its beer consumption.
"Although the effects on beer may seem inconsequential in comparison to numerous other - some, life-threatening - impacts of climate change, there is nonetheless something fundamental in the cross-cultural appreciation of beer", the study said. "This is the key message", said professor Dabo Guan of the University of East Anglia, another researcher on the team.