US beer production has experienced a general decline from 2014 to 2023, with a production volume standing at 21.16 million metric tons in 2023. The annual variation in production has fluctuated, with a notable dip of 17.35% in 2020 followed by a partial recovery in subsequent years. From 2022 to 2023, beer production slightly decreased by 0.4%. The Compound Annual Growth Rate (CAGR) for the last 5 years is -0.28%, reflecting a steady decrease in production.
Future forecasts indicate a continued but mild decline in beer production, with a 5-year forecast CAGR of -0.32%, resulting in an expected production of 20.66 million metric tons by 2028. This amounts to a total decline of 1.6% over the forecast period.
Future trends to watch for include:
- Consumer shifts towards other types of alcoholic beverages such as spirits and wine.
- Increasing popularity of craft beers and local breweries.
- Potential regulatory changes and economic factors that may impact production costs.
- Environmental and sustainability initiatives affecting production processes.
