The North American alcoholic beverage market is estimated to grow at a CAGR of 2.5% during the forecast period. The market value of alcoholic beverages in North America was $268.8 billion in 2018 which is estimated to hit $316.4 billion in 2025. The North American alcoholic beverages market is segmented into the US and Canada. The US held the highest market share of more than 90%, whereas, Canada held less than 10% of the market share in the North America market in 2018.
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Emerging demand for premium alcoholic beverages is primarily attributing to the growth of the market. The adoption of distilled spirits, craft beer, and wine are being significantly driven by the rising purchasing power of consumers and increasing demand for beverages with natural flavors. The spirits sector is led by millennials and the young-age population who demand innovative and higher-end products. Therefore, the companies are adding natural flavors to improve the quality of the flavor of alcoholic drinks. Alcoholic beverage manufacturers are making efforts for expanding their distribution channels such as online stores, and convenience stores. The introduction of new products in alcoholic beverages is attracting millennial consumers from around the globe.
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There are several alcoholic beverages manufacturers in the country, including Craft Brew Alliance, Constellation Brands Inc., and Molson Coors Brewing Co. Constellation Brands Inc. is a manufacturer, and supplier of wine, beer, and spirits, and has its facilities in more than 40 countries and includes over 100 brands in its product portfolio. These players adopt various strategies in order to remain competitive in the market. Some of the strategies followed by market players include mergers and acquisitions, product offering expansion, geographical expansion, partnerships and collaborations. For instance, in October 2019, Brown Forman Corp. signed an agreement to purchase 86 companies and Brown-Forman adds Fords Gin, a premium gin to its portfolio.
Market Segmentation
North American Alcoholic Beverages Market by Type
- Beer
- Distilled Spirit
- Wine
North American Alcoholic Beverages Market by Packaging Type
- Glass Bottles
- Cans
- Others (Plastic Bottles)
Regional Analysis
- US
- Canada
Company Profiles
- Boston Beer Company, Inc.
- Bronco Wine Co.
- Brown-Forman Corp.
- Constellation Brands, Inc.
- Craft Brew Alliance
- Molson Coors Brewing Co.
- Pabst Brewing Co.
- Southern Glazer’s Wine and Spirits, LLC.
- The Boston Beer Company, Inc.
- The Wine Group, Inc.
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