North America Alcoholic Beverage Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 4.17 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Alcoholic Beverage Market Analysis
The North American Alcoholic Beverage Market is projected to record a CAGR of 4.17% over the forecast period.
The increase in the number of young adults is one of the main reasons anticipated to propel the growth of the alcoholic beverage market in the region. The market for alcoholic beverages such as beer, wine, and spirits is also expected to develop due to the expanding demand for premium and super-premium products. The demand for alcoholic beverages is growing among American consumers due to rising disposable income and changing demographics.
Beer accounts for the prominent market of alcoholic beverages consumed worldwide and predominates in the United States. Due to the increasing popularity of craft beer, the beer market in the region has seen a heightened preference for flavored beers by consumers, especially millennials. The millennial population holds the largest share in the overall population of the United States, with about 22%, thus the breweries are consistently offering new innovative flavors targeted toward the millennial population to penetrate the highly potential segment and gain a competitive edge. For instance, Constellation Brands introduced passionfruit lime, guava lime, and coconut lime under the brand Corona Refresca, especially to target millennials in the United States.
The premium liquor segment in the region is also growing, particularly in darker spirits, like whiskey. However, Mexico is North America's most rapidly growing alcoholic beverage market. Nevertheless, there is an evolving preference for craft beer and a variety of wines among young generations in the region, and the sales of low-alcohol beers and wines have been rising with the growing interest from health-conscious consumers, which is expected to boost the growth of the market.
North America Alcoholic Beverage Market Trends
This section covers the major market trends shaping the North America Alcoholic Beverages Market according to our research experts:
Growing Preference for Low Alcohol By Volume
The North American alcoholic beverage market is witnessing an upsurge in demand for low-alcohol-by-volume beverages, specifically among millennials and baby boomers. The sales of low-alcohol beverages have been rising, with consumers' growing interest in health-consciousness and the availability of a wider product portfolio with improved taste, aiding consumers to select a product as per their preference easily. Moreover, the high consumption of alcoholic beverages among the Mexican population is also driving the market growth. For instance, Mexicans consumed 130.7 beer cans per capita in 2020 to 183.9 beer cans in 2021, with a 41% increase in beer consumption, according to the National Institute of Statistics and Geography (INEGI) data. Thus, the figures are a clear indication of the continuously inflating demand for craft beverages in the country, as well as the region.
Moreover, North America is following a trend towards low-alcohol beers and ciders, which is attributed to a growing awareness of alcohol unit consumption and the customers' willingness to try new beverages with a huge diversity of product styles and taste profiles introduced by the manufacturers. For instance, in May 2021, Toronto's Mill Street Brewery launched a new premier organic lager which is fully certified organic beer brewed in Toronto.
United States Holds a Major Share in the Market
The United States alcoholic market is mature in terms of demand, especially for spirits and beers. Based on the Brewery Association data, 202 new brewpubs were opened in the country in the year 2021. The increasing per capita consumption of beer associated with growing disposable income in the country is driving market growth. For example, according to the Statistics published by Beer Canada, Newfoundland and Labrador region had the highest per capita consumption at 90.6 liters of beer in 2021.
American consumers are becoming more attracted to wines with descriptors "no taste additives, gluten-free, low carb, vegan-friendly, sulfite-free, low calorie, low alcohol, light, lighter, organic wines as they are more conscious about their health and wellness. According to UN Comtrade, in 2021, imports of wine in Mexico exceeded their exports by 267 million U.S. dollars. The total value of wine imported reached 272 million U.S. dollars, whereas wine exports totaled 5.15 million dollars. That year, the North American country's wine industry revenue was estimated at 1.56 billion dollars.
North America Alcoholic Beverage Industry Overview
The North American Alcoholic Beverage market is highly fragmented with the presence of five major players such as Diageo PLC, Bacardi Limited, Pernod Ricard, Anheuser-Busch Companies, LLC, and Molson Coors Beverage Company, involved in the processing of beer and spirits.
Key players have been investing in acquiring small players in the market, significantly to leverage the luxury spirits segment and to develop the product portfolio. They are also majorly focusing on product development and innovation to meet the consumer's needs by offering a variety of tastes and product quality to maintain premiumization.
North America Alcoholic Beverage Market Leaders
Diageo PLC
Bacardi Limited
Anheuser-Busch Companies, LLC.
Molson Coors Beverage Company
Pernod Ricard
*Disclaimer: Major Players sorted in no particular order
North America Alcoholic Beverage Market News
- In October 2022, Compania Mexicana De OPTACO, S.A. De C.V., unveiled the launch of Xoloitzcuintle Tamale flavored beer. XOLO is brewed with Mexican oregano and seasoned with spicy tamale masa flour instead of barley malt.
- In January 2022, Corona Canada unveiled the launch of Corona Sunbrew 0.0%, an innovative non-alcoholic beer that contains 30% of the daily value of vitamin D per 330 ml serving.
- In May 2021, Tenjaku whiskey USA launched a new craft gin, Tenjaku gin, in the United States.
North America Alcoholic Beverage Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Beer
5.1.2 Wine
5.1.3 Spirits
5.2 Distribution Channel
5.2.1 On-trade
5.2.2 Off-trade
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
5.3.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Diageo PLC
6.3.2 Bacardi Limited
6.3.3 Suntory Holdings Limited
6.3.4 Pernord Ricard
6.3.5 Sazerac Company
6.3.6 Heaven Hill Distilleries
6.3.7 The Brown Forman Corporation
6.3.8 Anheuser-Busch Companies, LLC.
6.3.9 Molson Coors Beverage Company
6.3.10 Halewood Wines & Spirits
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Alcoholic Beverage Industry Segmentation
Alcohol beverage can be defined as any sort of fermented liquor, like beer, distilled spirits, or wine which consists of intoxicating agents such as ethanol or ethyl alcohol. North America Alcoholic Beverage Market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into beer, wine, and spirits. Based on the distribution channel, the market is segmented into on-trade and off-trade channels. Based on geography, the market is segmented into the United States, Canada, Mexico, and the rest of North America. The report offers market size and forecasts in value (USD million) for the above segments.
| Product Type | |
| Beer | |
| Wine | |
| Spirits |
| Distribution Channel | |
| On-trade | |
| Off-trade |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Alcoholic Beverage Market Research FAQs
What is the current North America Alcoholic Beverages Market size?
The North America Alcoholic Beverages Market is projected to register a CAGR of 4.17% during the forecast period (2024-2029)
Who are the key players in North America Alcoholic Beverages Market?
Diageo PLC, Bacardi Limited, Anheuser-Busch Companies, LLC., Molson Coors Beverage Company and Pernod Ricard are the major companies operating in the North America Alcoholic Beverages Market.
What years does this North America Alcoholic Beverages Market cover?
The report covers the North America Alcoholic Beverages Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Alcoholic Beverages Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Alcoholic Beverage Industry Report
Statistics for the 2024 North America Alcoholic Beverage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Alcoholic Beverage analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
