North America Beer Market Outlook 2031
The North America beer market size was USD 158.42 Billion in 2022 and is estimated to reach USD 233.21 Billion by 2031 register a substantial CAGR 4.39% during the forecast period, 2023–2031. North America is observing robust demand for beer and growth of beer consumption, as beer is considered as one of the most appreciated drinks among the youth in this region.
Beer is prepared using from ingredients such as hops, water, yeast and malted cereal grains and experiences the process of fermentation. Additionally, flavouring ingredients, like fruits and herbs are applied in beer. There are different types of beers available in the market; such as, lager and ale are the two most commercially consumed beers.
The main difference between an ale and lager is the temperature level at which they are fermented. The ale is brewed at a temperature of (60°-80°F), whereas, lagers are brewed at a temperature of (45°-60°F).
The Covid-19 pandemic had an unpleasant impact on the North America beer market. Supply chain disruptions, demand destruction, and change in customer behavior are the major factors affecting the market; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
North America Beer Market Trends, Drivers, Restraints, and Opportunities
- Rise in consumer preferences for beer over other alcoholic beverages and increase in disposable income is expected to boost the North America beer market during the forecast period.
- Increase in female drinkers and unprecedented demand of beer from youth population propel the growth of the beer market.
- Consolidation of on-premises distribution channels is projected to supplement the market growth.
- Rising adoption of craft beer and growing popularity among low alcohol beverage category is anticipated to boost the market in coming years.
- Higher excise duties and taxations on imported as well as local beer and growth in health awareness among consumers hamper the growth of the beer market.
- R&D investment and technological advancement in North America beer market are expected to offer lucrative opportunities for the market players.
Scope of The North America Beer Market Report
The report on the North America beer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Beer Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Type (Lager, Ale, and Others), Distribution Channel (On-Trade and Off-Trade)
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Geography
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United States, Canada, Mexico and Rest of North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Anheuser-Busch InBev, Boston Beer Company, Carlsberg Group, Heineken NV and Constellation Brands
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North America Beer Market Segment Insights
The lager segment is projected to constitute a large market share
Based on product type, the North America beer market is segregated into lager, ale, and others. The lager segment is expected to account for a key share of the market during the forecast period owing to its acceptance rate by customers over other substitutes and key players prefer manufacturing lager as it offers high returns on investment.
On-trade segment is expected to register a substantial CAGR
Based on distribution channel, the North America beer market is divided into on-trade and off-trade. The on-trade segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to it being able to generate more revenue.
Mexico is expected to dominate the market
In terms of geography, the market is broadly classified as United States, Canada, Mexico and Rest of North America. The market in Mexico is anticipated to expand at a robust CAGR during the forecast period. Significant increase in the demand for beer in this region is anticipated to boost the market growth over the coming years. Furthermore, Mexico has developed into one of the top five largest beer producers in the world owing to an immense increase in its domestic production.
Segments
The North America beer market has been segmented on the basis of:-
Product Type
Distribution Channel
Geography
- United States
- Canada
- Mexico
- Rest of North America
Key Players
- Anheuser-Busch InBev
- Boston Beer Company
- Carlsberg Group
- Heineken NV
- Constellation Brands
Competitive Landscape
Key players competing in the North America beer market include Anheuser-Busch InBev, Boston Beer Company, Carlsberg Group, Heineken NV and Constellation Brands Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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