The beer market in North America fluctuated over the past decade, with the volume standing at 27.26 million metric tons in 2023. The market saw a slight decline of 0.3% in 2023 compared to the previous year. The five-year CAGR from 2018 to 2023 was 0.088%, indicating minimal average annual growth over recent years. Key variations include a notable dip of 17.26% in 2020 due to the pandemic, followed by partial recovery in 2021 with a 14.1% increase. Comparing to the longer term, the market is expected to mildly contract with a forecasted 5-year CAGR of -0.24%, predicting a total decline of 1.2% by 2028.
Future trends to watch for:
- Consumer shift towards craft and premium beer brands.
- Innovation in low-alcohol and non-alcoholic beers.
- Impact of regulations and taxations on beer production and sales.
- Influence of health and wellness trends on beer consumption patterns.
