Beer - NAFTA

The Beer market in NAFTA has been experiencing significant growth in recent years.

Customer preferences: Customers in NAFTA countries have shown a strong preference for beer over other alcoholic beverages. This can be attributed to the cultural significance of beer in these countries, as well as its affordability compared to other alcoholic beverages. Additionally, there is a growing interest in craft and specialty beers, with consumers seeking unique flavors and experiences.

Trends in the market: One major trend in the Beer market in NAFTA is the rise of craft breweries. Craft beer has gained popularity among consumers who are looking for high-quality and unique beer options. This has led to an increase in the number of craft breweries in the region, as well as a wider variety of craft beer options available to consumers. Another trend in the market is the growing demand for low-alcohol and non-alcoholic beer. Health-conscious consumers are seeking alternatives to traditional beer that have lower alcohol content or no alcohol at all. This trend has been driven by changing consumer lifestyles and a desire for healthier beverage options.

Local special circumstances: Each NAFTA country has its own unique characteristics that influence the Beer market. In the United States, for example, there is a strong craft beer culture and a large number of microbreweries. In Canada, there is a preference for light and lager-style beers. Mexico, on the other hand, is known for its traditional Mexican beers such as Corona and Dos Equis.

Underlying macroeconomic factors: The growth of the Beer market in NAFTA can be attributed to several underlying macroeconomic factors. Firstly, the strong economic growth in the region has led to increased disposable income, allowing consumers to spend more on beer. Additionally, the growing population in NAFTA countries has created a larger consumer base for the beer market. Finally, the increasing urbanization and changing demographics in the region have also contributed to the growth of the market. In conclusion, the Beer market in NAFTA is experiencing significant growth due to customer preferences for beer, the rise of craft breweries, the demand for low-alcohol and non-alcoholic beer, and underlying macroeconomic factors such as strong economic growth, population growth, and changing demographics. Each NAFTA country has its own unique characteristics that influence the market, but overall, the beer market in the region is thriving.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.