The US Alcoholic Beverages Market Size Volume was 29.43 million metric tons in 2023. From 2014 to 2023, the market demonstrated fluctuations, with notable decreases in 2017, 2018, and 2020. The year 2020 experienced the steepest decline of 17.35%, likely impacted by Covid-19. After a recovery phase in 2021 and 2022, 2023 saw a marginal decline of 0.4%. Over the past five years, the market has had a slight growth with a CAGR of 0.0068%. Looking ahead, the forecasted data suggests a gradual decline with a CAGR of -0.33% by 2028.
Future Trends to Watch:
- The potential impact of health and wellness trends on consumption patterns.
- The influence of consumer preferences shifting towards lower-alcohol or non-alcoholic alternatives.
- Ongoing legislative changes and their effects on market dynamics.
- Advancements in technology that may alter distribution and production efficiencies.
