The production of beverages in the US has exhibited notable fluctuations over the past decade, with several distinctive trends. The peak production was seen in 2015, followed by slight volatility and a significant dip in 2020, which was primarily due to the global pandemic's impact. Subsequent years saw a robust recovery with a notable increase in 2021.
2023 marked a value of $97.55 billion, showing a modest growth of 0.86% year-on-year. The CAGR over the past five years stood at 0.91%, reflecting a relatively stable growth trajectory despite the pandemic-induced shock.
Over the next five years, the forecast indicates a steady increase in production value, with the industry expected to grow at a CAGR of 0.69%, reaching $101.9 billion by 2028.
Future Trends to Watch For:
- Continued recovery and stabilization following the pandemic.
- Innovation in beverage products catering to health-conscious consumers.
- Increased focus on sustainability and eco-friendly production methods.
