The U.S. beer & cider market size is estimated to attain USD 271.12 billion by 2025, growing at a CAGR 11.6%, according to a new study by Grand View Research, Inc. The growing private breweries in the country is expected to stimulate the market growth over the next eight years.
States such as Maine, Colorado, and Michigan are among the popular craft beer producing states. The market is expected to witness robust growth due to large presence of microbrewery, brewpub, and contract brewing companies among others in the country. Furthermore, supportive government regulations in some states is anticipated to encourage the market growth.
The volume of beer & cider consumption is expected to grow at a low pace, owing to the growing increasing millennial generation shifting towards becoming more health conscious. Moreover, consumers that attain legal drinking age are lesser prone to consuming alcohol that is presumed to reduce beer and cider consumption.
The presence of a large number of beer and cider products makes the market more competitive. Furthermore, the market participants are using different combinations of raw materials to develop various types of beer & cider products such as Larger, Ale, and Pilsner among others.
The industry players comprise mainly big players that have large market share and are mainly focused on retaining their market share. Furthermore, these companies have a multi-regional presence and witness stiff competition. The companies have various brands of beer that are developed particularly for each region.
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Further key findings from the study suggest:
- The beer and cider market in the U.S. contributed around 67.8 billion to the country’s economy and has provided over 456,000 full-time jobs
- Beer is the fastest-growing segment, registering a CAGR of 11.7% over the next years. The growth is attributed to growing establishment of breweries in the country
- Regulations across states stipulate that breweries have produce certain amount of beer (in gallons) for commencement of operations. The amount varies with the states
- The industry mainly employs three stage distribution (including producers, wholesalers, and retailers) of beer & cider products
- Highest beer consuming states in 2015 include North Dakota, New Hampshire, Montana, South Dakota, and Vermont among others