The demand for alcoholic beverages in the US has shown notable fluctuations over the past decade. Starting from 32.36 million metric tons in 2014, there were slight peaks in 2015 and 2016 before a downward trend began in 2017. This trend was exacerbated in 2020 with a sharp 17.43% decline, possibly due to the COVID-19 pandemic. However, a partial recovery occurred in 2021 and 2022, with increases of 13.87% and 4.74% respectively. The latest available data for 2023 shows a negligible decline of 0.49%, standing at 30.15 million metric tons.
The compound annual growth rate (CAGR) over the last five years shows an average annual decrease of 0.073%, indicating a relatively stable but slightly declining trend in demand. For the future, forecasts suggest a continued gradual decline at a forecasted CAGR of -0.4%, anticipating a 2% reduction by 2028.
Future trends to watch for include changing consumer preferences, evolving regulatory landscapes, and potential economic impacts. Market innovation, particularly in the non-alcoholic segment and craft beverages, may also influence demand dynamics in the coming years.
