North America Beer Market Expected To Grow With a CAGR Of 4.5% | Growth Market Reports

PUNE, India, Sept. 3, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports titled, "North America Beer Market by Product Type (Lager, Ale, and Others), Distribution Channel (On-Trade and Off-Trade), and Geography: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market size is estimated to register a substantial CAGR during the forecast period, 2021–2028. North America is observing robust demand for beer and growth of beer consumption, as beer is considered as one of the most appreciated drinks among the youth in this region. Beer is prepared using from ingredients such as hops, water, yeast and malted cereal grains and experiences the process of fermentation. Additionally, flavoring ingredients, like fruits and herbs are applied in beer. There are different types of beers available in the market; such as, lager and ale are the two most commercially consumed beers. The main difference between an ale and lager is the temperature level at which they are fermented. The ale is brewed at a temperature of (60°-80°F), whereas, lagers are brewed at a temperature of (45°-60°F).

The Covid-19 pandemic had an unpleasant impact on the North America beer market. Supply chain disruptions, demand destruction, and change in customer behavior are the major factors affecting the market; however, the government's steps and strategies have helped to neutralized the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Key Market Players Profiled in the Report

• Anheuser-Busch InBev
• Boston Beer Company
• Carlsberg Group
• Heineken NV
• Constellation Brands

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.

Highlights on the segments of the Beer Market

Based on Product Type, the North America beer market is segregated into lager, ale, and others. The lager segment is expected to account for a key share of the market during the forecast period owing to its acceptance rate by customers over other substitutes and key players prefer manufacturing lager as it offers high returns on investment.

Based on Distribution Channel, the North America beer market is divided into on-trade and off-trade. The on-trade segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to it being able to generate more revenue.

In terms of Geography, the market is broadly classified as United States, Canada, Mexico and Rest of North America. The market in Mexico is anticipated to expand at a robust CAGR during the forecast period. Significant increase in the demand for beer in this region is anticipated to boost the market growth over the coming years. Furthermore, Mexico has developed into one of the top five largest beer producers in the world owing to an immense increase in its domestic production.

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Key Takeaways from the Study:

• Rise in consumer preferences for beer over other alcoholic beverages and increase in disposable income is expected to boost the North America beer market during the forecast period.
• Increase in female drinkers and unprecedented demand of beer from youth population propel the growth of the beer market.
• Consolidation of on-premises distribution channels is projected to supplement the market growth.
• Rising adoption of craft beer and growing popularity among low alcohol beverage category is anticipated to boost the market in coming years.
• Higher excise duties and taxations on imported as well as local beer and growth in health awareness among consumers hamper the growth of the beer market.
• R&D investment and technological advancement in North America beer market are expected to offer lucrative opportunities for the market players.

Read 168 Pages Research Report with Detailed ToC on "North America Beer Market by Product Type (Lager, Ale, and Others), Distribution Channel (On-Trade and Off-Trade), and Geography (United States, Canada, Mexico and Rest of North America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"

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Segments Covered in the Report

The North America beer market has been segmented on the basis of

Product Type

• Lager
• Ale
• Others

Distribution Channel

• On-Trade
• Off-Trade

Geography

• United States
• Canada
• Mexico
• Rest of North America

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