NEW
YORK, Oct. 14, 2024 /PRNewswire/ -- Report on
how AI is redefining market landscape - The Alcoholic Beverages
Market in US size is estimated to grow by USD 37.5 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of almost
2.09% during the forecast period. new product launches is
driving market growth, with a trend towards new packaging formats.
However, campaigns against alcohol consumption poses a
challenge - Key market players include Anheuser Busch InBev SA NV,
Asahi Group Holdings Ltd., Bacardi Ltd., Bronco Wine Co., Brown
Forman Corp., Constellation Brands Inc., Diageo Plc, E. And J.
Gallo Winery, Fifth Generation Inc., Heaven Hill Sales Co.,
Heineken NV, Molson Coors Beverage Co., Pernod Ricard SA, Sapporo
Holdings Ltd., Sazerac Co. Inc., Suntory Holdings Ltd., The Boston
Beer Co. Inc., The Edrington Group Ltd., The Mark Anthony Group of
Companies, and The Wine Group LLC.
Key insights into market evolution with AI-powered analysis.
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Alcoholic Beverages
Market In US Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
2.09%
|
Market growth
2024-2028
|
USD 37.5
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
2.03
|
Regional
analysis
|
US
|
Performing market
contribution
|
North America at
100%
|
Key
countries
|
US
|
Key companies
profiled
|
Anheuser Busch InBev SA
NV, Asahi Group Holdings Ltd., Bacardi Ltd., Bronco Wine Co., Brown
Forman Corp., Constellation Brands Inc., Diageo Plc, E. And J.
Gallo Winery, Fifth Generation Inc., Heaven Hill Sales Co.,
Heineken NV, Molson Coors Beverage Co., Pernod Ricard SA, Sapporo
Holdings Ltd., Sazerac Co. Inc., Suntory Holdings Ltd., The Boston
Beer Co. Inc., The Edrington Group Ltd., The Mark Anthony Group of
Companies, and The Wine Group LLC
|
Market Driver
The Alcoholic Beverages market in the US is witnessing a notable
trend with vendors introducing unique packaging labels and formats.
These innovations not only grab consumers' attention but also
extend the product's shelf life. Tetra packs, PET bottles,
bag-in-box, and metal cans are gaining popularity, particularly
among the millennial consumer segment. Their convenience for
on-the-go consumption, lightweight nature, and single-serving sizes
make them appealing. Companies like Carlsberg, Jim Beam, Goose
Island, and Dogfish Head have adopted this strategy, with Carlsberg
offering Ringnes beer in 330 ml convenience packs instead of
bottles. This packaging shift is expected to boost market growth
during the forecast period.
The Alcoholic Beverages market in the US is experiencing diverse
trends. Medium and low alcohol beverages are on the rise, with
flavored and unflavored options gaining popularity. The flavored
category, including flavored spirits and premium beer, is
particularly attractive to young adults with high disposable
income. Ethanol-based distilled spirits, such as whiskey and vodka,
continue to dominate the market. Alcohol content varies across
categories, with premium spirits and dark spirits typically having
higher alcohol content. Plastic bottles, glass bottles, and tins
are used for distribution. Modern trade, convenience stores,
specialty stores, online retailers, hotels, restaurants, bars,
commercial stores, on-premises, liquor stores, grocery shops, and
liquor stores are key distribution channels. A diverse selection,
including wine lists and artisanal spirits, is essential for
customer attraction. Craft beer and hard seltzer are emerging
trends in the market.
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Market Challenges
- The Alcoholic Beverages market in the US faces significant
challenges due to increasing campaigns against alcohol consumption.
These campaigns, launched by regulatory and social organizations,
aim to educate the public about the negative health effects of
alcohol, particularly among younger demographics. In 2021, the
Pan-American Health Organization (PAHO) initiated a campaign, "Live
Better, Drink Less," highlighting the risks of liver diseases,
cancer, cardiovascular problems, and tuberculosis associated with
alcohol consumption. These efforts may negatively impact the growth
of the Alcoholic Beverages market during the forecast period.
- The Alcoholic Beverages Market in the US is thriving, with key
players including Online Retailers, Hotels, Restaurants, Bars,
Commercial Stores, and Liquor Stores. On-premises sales dominate,
but off-premises, particularly Grocery Shops, are growing. Young
adults with high disposable income are driving demand for diverse
selections, such as wine lists, craft beer, premium spirits, and
hard seltzer. Ethanol-based beverages, including distilled spirits
like Whiskey, Vodka, and Dark Spirits, as well as Premium Beer and
Artisanal Spirits, are popular. Beverage trends reflect Western
lifestyle preferences, with an emphasis on Fermentation processes
using Grains, Berries, Sugars, and Fruits. Distillation methods
vary, producing Alcoholic Content ranging from High to Low.
Overall, the Beverages Market for Beer, Wine, and Spirits continues
to grow.
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trends- Get your access now!
Segment Overview
This alcoholic beverages market in US report extensively covers
market segmentation by
- Distribution Channel
- 1.1 Off-trade
- 1.2 On-trade
- Product
- 2.1 Beer
- 2.2 Wine
- 2.3 Spirits
- 2.4 RTD
- 2.5 Others
- Geography
1.1 Off-trade- The alcoholic beverages market
in the US is witnessing significant growth in the off-trade
channel, which includes supermarkets, hypermarkets, specialty
stores, and online sales. Supermarkets and hypermarkets, such as
Aldi, Tesco, Carrefour, and Target, maintain a large inventory of
various alcoholic beverage brands, providing consumers with
convenience and a wide range of options. The increasing number of
new stores opening, like Aldi's 2,500 stores in 2022, is expected
to boost sales. The off-trade sales are also expected to rise due
to the growing number of vodka manufacturers selling their products
through these channels and the increasing internet penetration and
online consumer base. E-commerce platforms offer benefits like
personalized shopping assistance, product comparisons, and consumer
reviews, driving growth. Convenience stores and specialty retail
stores are also experiencing growth due to an increase in their
number and online sales. Online sales are predicted to increase
further due to competitively priced offerings and quick delivery
services.
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Research Analysis
The Alcoholic Beverages Market in the US is a significant
sector, encompassing a diverse range of products including wines,
beers, and spirits. The production process for these beverages
involves fermentation, which converts sugars, grains, berries,
fruits, and other raw materials into alcohol. Wines are typically
made from fermented grapes, while beers are produced from malted
grains and hops. Spirits, such as whiskey, vodka, and rum, undergo
distillation to concentrate the alcohol content, resulting in high,
medium, or low alcohol levels. Premium beers and artisanal spirits
offer unique flavors derived from various ingredients and
production methods. Ethanol is the common alcohol found in all
these beverages, contributing to their intoxicating effects. The
market for alcoholic beverages continues to evolve, with consumers
seeking new and innovative products to satisfy their
preferences.
Market Research Overview
The Alcoholic Beverages Market in the US is a thriving industry,
encompassing a wide range of products from wines and beers to
spirits. The production process involves fermentation of various
raw materials such as grains, berries, sugars, and fruits.
Fermentation converts these ingredients into alcohol, with the
alcoholic content varying from low to high. Beers, made from malted
grains, undergo a brewing process, while wines are produced from
fermented grapes. Distillation is used to create spirits, including
unflavored and flavored options like vodka, whiskey, and rum. The
market is segmented into several categories, including mass and
premium, with plastic bottles, glass bottles, and tins used for
packaging. Diverse selection and attractive customer experiences,
such as extensive wine lists and craft beer offerings, are key
factors driving growth. Young adults with high disposable income
and Western lifestyle trends are major consumers. Distribution
channels include modern trade, convenience stores, specialty
stores, online retailers, hotels, restaurants, bars, commercial
stores, on-premises, liquor stores, and grocery shops. Alcoholic
beverages come in various categories, including beer, wine,
spirits, and emerging trends like hard seltzer. Ethanol, the
primary alcohol used in these beverages, is derived from distilled
spirits. The market continues to evolve with the introduction of
artisanal spirits and dark spirits.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product
-
- Beer
- Wine
- Spirits
- RTD
- Others
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio