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US beer to be propelled by new flavour trends
Increased demand for premium and innovative flavoured beer is anticipated to drive sales for the US brewing sector, according to analysts.
According to the new data published in the latest iteration of a Research and Markets report looking into the US beer industry, trends for new flavours as well as premium styles have been identified as trend set to boost trade. Added to this, the research found that the ease of being able to buy beer online is also anticipated to help grow the category in America over the next few years.
According to the data, the US beer sector has been predicted to grow by US$28.3 billion between 2023-2028, “driven by demand for premium beers, online presence and innovative flavours” while “accelerating at a CAGR of 4.61%”.
The study identified the introduction of new beer flavours as “one of the prime reasons driving the beer market in US growth during the next few years”.
Looking at the latest data the Beer Marketers’ Insight (BMI) report, db recently revealed how Americans were currently drinking the lowest amount of beer since the 1990s with beer shipments having fallen by 5% in the first three quarters of 2023. However, despite this, companies like Constellation Brands have still managed to show healthy results thanks to its thriving Modelo Especial and Corona brands.
Last year, while many US consumers are making cutbacks on spending, beer drinkers continued to show loyalty to the brands they love illustrating that whatever forward moves the sector makes, connecting with consumers for the long term is key.
The analysts for this year’s report additionally outlined how “the market is driven by increasing demand for premium beers, growth of online retail of beer, and increasing dependency on technology. Also, growing demand for low-alcohol beer and increase in partnership and mergers and acquisitions by the vendors in the market will lead to sizable demand in the market”.
The researchers also went on to elaborate how the report on the beer market in the US provides an “holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors”.
It also highlighted how the report also takes a deeper look into “the current market scenario, the latest trends and drivers, and the overall market environment” and has been “designed to help clients improve their market position”.
Want to know more about what’s going on with the US beer industry? Read here.
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