Beer Market Size, Share, Growth Analysis, By Type(Large, Ale, Stouts, Malt), By Packaging Type(Glass Bottle, Metal Cans), By Distribution channel(Off-trade, On-trade), By Category(Popular, Premium, Super-Premium), By Region - Industry Forecast 2024-2031

Beer Market size was valued at USD 743.4 billion in 2019 and is poised to grow from USD 768.55 billion in 2023 to USD 996.49 billion by 2031, growing at a CAGR of 3.3% in the forecast period (2024-2031).

In recent years, there has been a significant rise in disposable incomes among individuals. The urbanization and modernized standard of living has increased the spending capability of people up to a decent level. Over the years consumer preferences have shifted. Beer is one of the popular drinks among people, especially young drinkers. Beer is the most popular and largely exported alcohol beverage across the regions. Varied taste flavors and formulations have made beer a popular trend among millennials and Gen Z individuals and are expected to raise the Beer Market share in the coming years.

The covid 19 pandemic led to devastating effects on the market. Covid 19 was an infectious disease which affected the entire world and was a medical emergency. To combat the spread of the virus and protect people from the effect of infection there was a lockdown which led to the closure of restaurants, bars, and all social gatherings. Additionally, the supply and transportation were also affected due to imposed lockdown restrictions. However, there was growth in the online purchase of beers and consumers were inclined to purchase beer from D2C(Direct to Consumer) platforms.

US Beer Market is poised to grow at a sustainable CAGR for the next forecast year.