Alcohol Beverages Market in US 2017-2021
About Alcohol Beverages
Alcohol beverages are drinks that contain certain amount of ethanol.
Technavio’s analysts forecast the alcohol beverages market in the US to grow at a CAGR of 3.55% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the alcohol beverages market in the US for 2017-2021. To calculate the market size, the report considers the different segments of alcohol beverages and their product type, distribution channel segmentation, and alcohol consumption patterns.
Technavio's report, Alcohol Beverages Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Alcohol Beverages Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the alcohol beverages market in the US: Anheuser-Busch InBev, Bacardi, Beam-Suntory, Bronco Wine Company, and Brown-Forman.
Other Prominent Vendors in the market are: Altitude Spirits, Carlsberg, Tito's Handmade Vodka, Gruppo Campari, Harpoon Brewery, Heaven Hill Brands, Lagunitas Brewing, Matt Brewing, McCormick Distilling, Minhas Craft Brewery, Northwest Distillery, Oskar Blues Brewing, R.S. Lipman, The Boston Beer, and Two James Spirits.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing popularity of self-service beer systems in on-trade channel. This new technology is changing the way Americans drink beer and wine. It is installed either at a dining space or along the wall and allows the customer to make, combine, and taste any drink they wish to have. Self-service beer system helps to improve customer satisfaction and company's (bar) profit margins. Traditionally customers have to wait for their orders, however with the self-serving machines, customers can choose and make their own drink, and can consume multiple drinks without the need for waiting. Usually in waiting durations, customers change their mind about having another beverage, thereby reducing their satisfaction that negatively affect the sales of the company.”
According to the report, one of the major drivers for this market is intense competition. The alcohol beverage industry is fragmented with many players competing against each other. But in the wine market, top 8 vendors in the wine industry account for 60% of the market share in the US. However, the number of wineries and breweries are increasing every year to meet the increasing demand for new varieties in alcohol beverages.
Further, the report states that one of the major factors hindering the growth of this market is rising death toll due to alcohol-induced diseases. With the growing demand for alcohol, development of new flavors and varieties and proper marketing of alcohol products through digital media, the risks associated with alcohol consumption have grown. Alcohol is the chief cause of more than 300 diseases. Studies show that alcohol consumption is linked to prostate cancer, mouth cancer, and stomach cancer. Other conditions related to heavy alcohol consumption include anemia, liver cancer, cirrhosis, dementia, depression seizures, gout, and other related diseases.
Anheuser-Busch InBev, Bacardi, Beam-Suntory, Bronco Wine Company, Brown-Forman, Altitude Spirits, Carlsberg, Tito's Handmade Vodka, Gruppo Campari, Harpoon Brewery, Heaven Hill Brands, Lagunitas Brewing, Matt Brewing, McCormick Distilling, Minhas Craft Brewery, Northwest Distillery, Oskar Blues Brewing, R.S. Lipman, The Boston Beer, and Two James Spirits.