North America Beer Market - Growth, Trends, and Forecast (2018 - 2023)
North America is a steady market in terms of consumption and growth of beer consumption. It is the fourth-largest beer market in the world, which accounts for about 14% of the global share. In North America, beer is considered as one of the most cherished alcoholic drinks, especially among the young population. The North America beer market size is expected to value at USD 71.91 billion in 2018 and reach USD 98.08 billion by 2023, registering a CAGR of 4.7% during 2018-2023 (the forecast period).
Changing lifestyles, consumption pattern alcoholic drinks, and popularity of beer among the young population in the region are driving the North America beer market. However, some factors, like heavy taxation, legal regulations, and availability of substitute products are restricting the market growth in North America.The growth opportunity for the market lies in the growing demand for innovative products, such as flavored and craft beer.
The North America beer market has been classified on the basis of product type, category, packaging, and geography. Based on product type, the market has been further segmented into light and strong beer. By category, it is segmented into premium beer, super premium, and standard beer. The market is divided into canned, bottled, and drought beer, based on packaging.
The North America beer market is expected to grow at a steady rate during the forecast period. The regional markets include in the region: the United States, Canada, and Mexico.Among all, the United States is the largest consumer of beer, followed by Mexico and Canada.
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