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The Beer market in North America has been experiencing significant growth in recent years.
Customer preferences: Customers in North America have shown a strong preference for craft beer, which has led to a surge in the number of craft breweries in the region. Craft beer offers a wide range of flavors and styles, appealing to consumers who are looking for unique and artisanal products. Additionally, there has been a growing interest in healthier options, such as low-calorie and low-alcohol beers, as consumers become more health-conscious.
Trends in the market: One of the key trends in the North American beer market is the rise of microbreweries and brewpubs. These small-scale breweries have gained popularity due to their ability to produce high-quality and innovative beers. They often focus on local ingredients and cater to the preferences of the local community. This trend has contributed to the diversification of the beer market, offering consumers a wider variety of options to choose from. Another trend in the North American beer market is the increasing popularity of flavored beers. Breweries have been experimenting with different flavors, such as fruit, spices, and even coffee, to create unique and interesting beer experiences. This trend appeals to consumers who are looking for new and exciting flavors in their beer.
Local special circumstances: In the United States, the craft beer movement has been fueled by the growth of the local food and drink culture. Consumers are increasingly interested in supporting local businesses and are willing to pay a premium for locally produced products. This has created a favorable environment for craft breweries to thrive, as they are often seen as a part of the local community. Canada, on the other hand, has a strong beer culture with a long history of brewing. The country has a large number of well-established breweries that have been producing beer for generations. However, there has also been a recent surge in the number of craft breweries, driven by the demand for unique and innovative beers. The Canadian beer market is known for its diversity, with a wide range of beer styles and flavors available to consumers.
Underlying macroeconomic factors: The growing beer market in North America can be attributed to several macroeconomic factors. The region has experienced a strong and stable economy, which has led to increased consumer spending power. This has allowed consumers to indulge in premium and higher-priced beers, such as craft beer. Furthermore, changing demographics have also played a role in the growth of the beer market. The millennial generation, in particular, has shown a strong interest in craft beer and is willing to spend more on unique and high-quality products. This demographic shift has created a strong demand for craft beer in North America. In conclusion, the Beer market in North America has been driven by customer preferences for craft beer, the rise of microbreweries and brewpubs, and the increasing popularity of flavored beers. Local special circumstances, such as the support for local businesses in the United States and the strong beer culture in Canada, have also contributed to the growth of the market. The underlying macroeconomic factors, including a strong economy and changing demographics, have further fueled the growth of the beer market in North America.
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.
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