Between 2014 and 2023, the beer production in North America has experienced notable fluctuations, starting from 24.49 million metric tons in 2014 to 23.46 million metric tons in 2023. The most significant drop occurred in 2020 with a substantial year-on-year decline of 17.23%, largely attributed to the impacts of the COVID-19 pandemic. Recovery began in 2021, showing a positive growth rate of 14.14%, with slight improvements in the following years. Despite these variations, 2023 saw a marginal decline of 0.27% from the previous year. The overall Compound Annual Growth Rate (CAGR) from 2019 to 2023 is -0.15% indicating a slight downward trend over the past five years.
Forecast data indicates a continuing slight decline in beer production until 2028, with the estimated CAGR over the next five years projected at -0.21% and a total decrease of approximately 1.06% by 2028.
Future trends to watch for:
- Potential impacts of alternative beverages growing in popularity.
- Shifts in consumer preferences towards craft and premium beers.
- Continued impacts of health and wellness trends on beer consumption.
- Influence of environmental and sustainability initiatives on production practices.
- Pandemic resilience and recovery, affecting production capacity and supply chain stability.
