North America Beer Market

North America Beer Market Growth Trends Analysis:

North America Beer Market is worth USD XX million in 2021, so it is estimated to reach USD XX million by 2026, growing at a CAGR of XX%. Beer reduces the risk of atherosclerosis, stroke, and heart disease by lowering cholesterol levels and blood pressure if consumed in small quantities or occasionally. Also, it can help to reduce the probability of developing type 2 diabetes and preclude sores and blisters development. Ale and lager are the two most popular beers in the business world. The temperature at which lager and ale are fermented is the critical distinction among them. Ale is fermented at high temperatures between 60 and 80º F, while lager is fermented between 45 and 60º F.

Recent Developments 

1. In 2020, the acquisition of the Atwater Brewery was accomplished by Molson Coors Beverage Co., one of the largest American breweries.
2. A 19% increase in the company's total net profit to Rs 127 crore was recorded by United Breweries for the third quarter ending December 2020.
3. New Hampshire Brewers Association members assembled at Deciduous Brewing Company in Newmarket to witness the signing of Senate Bill 125 opens in a new window (S.B.125) by Governor Chris Sununu, which discusses a wide range of sales and operational problems for the state's brewers.
4. New taxes on beer sales were enforced in Pennsylvania in 2019. As a result, craft beer sales were expanding in Pennsylvania in 2019.
5. New York's Southern Tier Brewing and Pennsylvania's Victory Brewing have formed an association to form Artisanal Brewing Ventures.

Market Growth

The North America Beer Market is predicted to contribute to the industry in the coming years due to consumers' rising preference for low alcohol and quality levels and exquisite flavor attributes.

Drivers 

Beer is easy to drink and doesn't require any diluting or flavoring agents, perfect for customers who are always in a rush. It has become more appealing to customers ' diverse tastebuds and inclinations by incorporating fresh flavors such as strawberry, peach, and lemon into the beer's pre-existing flavor profile. Specialized beers, produced in a traditional look featuring varied flavors, such as honey, hot pepper, smoked, ginger, and sweet potatoes, also encourage the market's expansion. Many beer producers use high-quality additives and specific production procedures to create premium beers that offer an exceptional taste and quality. A rise in consumer health awareness and an abundant supply of beer with reduced or no alcohol has boosted beer consumption. The significant aspect of the development of this industry is an improvement in expendable income. The spontaneous consumption of alcoholic beverages represents the customer's increased buying power. The worldwide beer industry has seen a considerable spike in business attributed to the growing adoption of westernized lifestyles and modernization among customers. Thus, the rapid expansion sections of the restaurant industry across the world pay close attention to customer spending patterns and liquor purchasing behavior.

Restraints

Strict liquor laws and tax hikes can impede North American beer expansion. In addition, consumers' health has always been a concern for the worldwide beer market, which has onerous promoting and branding liquor. Apart from traditional advertising, some companies also market their brand by masking them as just another product available on the market.

Market Segmentation

The North America Beer Market is segmented based on Product, Production, Category, and Packaging.

MARKET REPORT COVERAGE:

By Product

• Strong
• Light

Nearly two-thirds of global volume was accounted for by solid beer during the review period. However, increasing health concerns and strong demand for non-alcoholic beverages drove light beer sales up in North America.

By Production

• Micro
• Macro

According to the American Brewers Association (ABA), the macro brewery produces more than 15,000 barrels of American beer per year, according to the American Brewers Association (ABA). Microbreweries are expected to gain market share as they become more popular around the world. In 2014, the segment represented more than 83 percent of the market.

By Category

• Normal
• Super premium
• Premium

The normal has grown due to lower prices and a lack of consumer awareness of premium beers in developing nations over the past few years.

By packaging

• Draught
• Bottled
• Canned

Canned beer is the most popular beverage and is expected to maintain its dominance in the North America Beer market share in the upcoming years.

Regional Analysis

Geographically the North America Beer Market is segmented into US, Canada, Mexico and Rest of North America.

• U.S
• Canada
• Rest of North America

US, Canada, and the rest of North America make up North America's Beer Market. As consumer preferences for homemade beer over commercial beer increase, the North American market will grow significantly. North America is one of the world's foremost beer marketplaces, with enormous growth potential due to the strong customer experience with beer. The presence of strong correlation among the increased demand from millennials and young workers in the region due to changes in taste preferences and customer experience. Beer consumption habits in North America have changed dramatically during the past two decades. To fulfill the increased demand for beer, the industry focuses on and capitalizing on the anticipated market debut.

Impact of COVID-19 on North America Beer Market

In light of the worldwide restrictions imposed on the functionality of cafes and pubs, the mass consumption segment of beers, that is, on-trade channels, are expected to decline significantly by 2020. However, as the COVID-19 situation has gradually improved, with fewer restrictions imposed on foodservice channels, the beer market is expected to regain its previously elevated consumption levels this year. Throughout the pandemic period, as the culture of "Sit Home and Booze" grew, the off-trade distribution segment experienced remarkable growth, with store and online alcohol sales soaring worldwide. The North America Beer Market experienced a negative impact due to the corona crisis. The key factors that influence the industry are distribution network impediments, demand obliteration, and shifts in consumer behavior; however, the government's actions and approaches have neutralized the circumstances. This global epidemic has compelled important people to enforce cutting-edge techniques to address this challenge and increase the market growth.

Leading Company 

Especially in North America, Chimay beer and cheese enjoy nearly exclusive rights on the beer market globally.

Key Players

Major Players in the North America Beer Market are Carlsberg Group

• Anheuser-Busch InBev
• Diageo PLC
• Erdinger Brewery
• Heineken N.V
• Lasco Brewery
• Radeberger Brewery
• Oettinger Brewery
• BAVARIA N.V.