According to Technavio’s latest market research study, the alcohol beverages market in the US is expected to grow at a CAGR of close to 4% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the alcohol beverages market in the US in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are discussed below:
Beer market in the US: The market for beer in the US is projected to register negative growth during the forecast period owing to the growing preference for premium wine and spirits and increasing demand for new flavors by consumers, especially millennials. Majority of the vendors in the market space are focusing on the R&D for the development of newer varieties of drinks to retain consumers and to expand their market. The beer market in the US is also witnessing large-scale M&As, which is likely to continue throughout the forecast period.
“The increasing sales of craft beer is likely to drive the market and further increase the demand for beer in the US. This is supported by an increase in the number of breweries in the nation in the last few years. The market for breweries in the US registered growth at a CAGR of more than 17% between 2015 and 2016,” says Manjunath Reddy, a lead analyst at Technavio for research on alcoholic beverages.
Wine market in the US: The increase in wine consumption among women and millennials is the fundamental driving force behind the growth of the wine market in the US. Increasing awareness about the medicinal benefits associated with the product, such as the claim that moderate consumption of wine can prevent cardiac problems and delay aging, are fostering the market’s growth. The rise in the number of local wineries and an increase in the number of new product launches are other key factors that are expected to facilitate the growth of the wine market in the US during the forecast period.
Spirits market in the US: The spirits market includes hard liquors like whiskey, gin, rum, tequila, scotch, cognac, brandy liqueur, and others. Currently, the market is experiencing a shift in preference for low-calorie content, especially in the health-conscious segment of consumers. According to Technavio’s industry experts, the spirits market is expected to grow faster than the beer market in the US. Whiskey was the leading segment in the spirits market.
The top vendors operating in the alcoholic beverages market in the US are:
- Anheuser-Busch InBev
- Bacardi
- Beam-Suntory
- Bronco Wine Company
- Brown-Forman
- Constellation Brands
- D.G. Yuengling & Son
- Diageo
- E.&J. Gallo Winery
- Heineken
- Pabst Brewing Company
- Pernod Ricard
- The Wine Group
- Treasury Wine Estates
Other prominent vendors in the market include Altitude Spirits, Carlsberg, Tito’s Handmade Vodka, Gruppo Campari, Harpoon Brewery, Heaven Hill Brands, Lagunitas Brewing, Matt Brewing, McCormick Distilling, Minhas Craft Brewery, Northwest Distillery, Oskar Blues Brewing, R.S. Lipman, The Boston Beer, and Two James Spirits.
A more detailed analysis is available in the Technavio report titled, ‘Alcohol Beverages Market in the US 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Organic Wine Market 2017-2021
- Global Scotch Whisky Market 2017-2021
- Global Low-Alcohol Beverages Market 2017-2021
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