Based on the forecasted data, the number of employees in the Beverage sector in the US is expected to increase steadily over the next five years. In 2023, the sector employed approximately 299,000 individuals. The growth projections show a year-on-year rise, with 2024 expecting 305,000 employees, a 2.0% increase from the previous year. This trend continues with increases of 1.97% in 2025, 2.25% in 2026, 1.89% in 2027, and 1.85% in 2028. The Compound Annual Growth Rate (CAGR) over these five years is approximately 2.0%, indicating consistent growth in employment within the sector.
Future trends to watch for include:
- Technological advancements and automation, which could impact the rate of employment growth.
- Changes in consumer preferences towards healthier and sustainable beverage options, potentially creating new job opportunities.
- Economic factors that could either drive more hiring in the sector or result in employment contractions.
- Regulatory changes that may affect operational costs and labor requirements.