Alcoholic beverages Market size in the US to grow by USD 72.51 billion | Market research insights highlight increased demand for craft drinks as key driver | Technavio

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NEW YORK, Jan. 20, 2022 /PRNewswire/ -- According to the research report "Alcoholic Beverages Market in US by Product, Distribution Channel, and Packaging - Forecast and Analysis 2021-2025", the market will witness a YOY growth of 4.15% in 2021 at a CAGR of almost 5% during the forecast period. The report is segmented by distribution channel (off-trade and on-trade), product (beer, spirits, and wine), and packaging (glass bottles, metal beverage cans, and other packaging materials).

Attractive Opportunities in Alcoholic Beverages Market in US by Product, Distribution Channel, and Packaging - Forecast and Analysis 2021-2025
Attractive Opportunities in Alcoholic Beverages Market in US by Product, Distribution Channel, and Packaging - Forecast and Analysis 2021-2025

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Vendor Insights

The alcoholic beverages market in US is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Vendors are focusing on new product launches and forming strategic alliances to stay competitive in the market.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Anheuser Busch InBev SA/NV

  • Bacardi Ltd.

  • Beam Suntory Inc.

  • Brown-Forman Corp.

  • Carlsberg Breweries AS

  • Constellation Brands Inc.

  • Diageo Plc

  • Heineken NV

  • Molson Coors Beverage Co.

  • Pernod Ricard SA

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Key Segment Analysis

By product, the alcoholic beverages market share growth by the beer segment will be significant during the forecast period. The increasing preference for wine and spirits among millennials and Gen-X consumers will drive the growth of the segment. Also, the rising demand for craft beer and an increase in the number of breweries in the country will contribute to the segment's growth.

By distribution channel, the off-trade channel accounted for maximum sales in the market. The proliferation of supermarkets and hypermarkets that have dedicated sections for storing alcoholic beverages will drive the growth of the segment during the forecast period.

Similarly, by packaging, the glass bottles segment dominates the market share in the US. In 2017, the segment accounted for 58.20% of the market. The increasing demand for premium spirits and the growing awareness about the recyclability of glass bottles are driving the growth of the segment.

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Key Market Drivers & Challenges:

The alcoholic beverages market in the US is driven by the increased demand for craft drinks. Craft drinks have a distinctive taste compared to regular drinks. Hence, the demand for such drinks is increasing significantly in the US. The rising demand is encouraging the establishment of many craft breweries in the country. Many well-established players are entering the market by acquiring small players that offer craft drinks such as craft beer. The market is also witnessing an increase in the demand for handcrafted ultra-premium liquors that are made using traditional methods. All these factors are driving the growth of the market.

However, the increasing cases of accidents due to driving under the influence of alcohol will challenge the growth of the market. In 2016, about 10,500 people died in alcohol-impaired driving crashes in the US, which accounted for about 28% of traffic-related deaths in the country. The same year, 17% of the traffic-related deaths on children aged 0-14 years involved an alcohol-impaired driver. These factors are forcing regulatory bodies to implement stricter mandates against the consumption of alcohol, which is expected to reduce the growth potential in the market.

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Beer Market in US by Product and Distribution Channel - Forecast and Analysis 2021-2025

Black Beer Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025

Alcoholic Beverages Market In US Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of almost 5%

Market growth 2021-2025

USD 72.51 billion

Market structure

Fragmented

YoY growth (%)

4.15

Regional analysis

North America, MEA, Europe, and Asia

Performing market contribution

US at 100%

Key consumer countries

US

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Anheuser Busch InBev SA/NV, Bacardi Ltd., Beam Suntory Inc., Brown-Forman Corp., Carlsberg Breweries AS, Constellation Brands Inc., Diageo Plc, Heineken NV, Molson Coors Beverage Co., and Pernod Ricard SA

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us:

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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