Global Alcohol Brands Are Heading Towards The US Alcohol Market To Fetch More Business. Here’s Why.
Matt Groening, the famous American cartoonist once cheered for the alcohol industry saying, “To alcohol! The cause of... and solution to... all of life's problems.”
Since the US is large, drinking habits and customs vary greatly across the regions and cities. In many rural areas, alcoholic drinks are mostly found in restaurants & people mostly have their drinks at home. Whereas, in urban environs, you will find a range of bars and nightclubs that serves all kinds of drinks. The party cities like Miami, New York, and Chicago all have drinking instalments which are varied, and physically closer - making the bar hopping culture popular. You may stumble upon the local Shot-and-a-beer bars to the more upscale Martini bars and everything in between in places like these.
The people in the US are drinking more than they used to. Not only the millennials but the Gen Z and the Baby Boomers are plunging into the drinking consumption like never before. Millennials are more into exploring the alcohol industry - but also they are more health conscious and are drinking less than the Gen Z & the Baby Boomers.
Being a large multicultural country, the US always has spots open for new beverages to seep into the market sector from across the globe. In a world of people wanting to try new things and adapt to the upcoming culture in every aspect, USA is the perfect place to penetrate into with your beverage.
The US alcohol market is hot at the moment - it produces the largest revenue of the alcoholic drinks market around the world. The importers and distributors around the globe are taking a step forward towards the US alcohol market as it seems to have a promisable future.
WHY ENTER THE US ALCOHOL MARKET?
There are a lot of reasons to expand your business in the US alcohol market. Let us take a look at the statistics to know about it more clearly.
USA Alcohol Statistics - 2018
The US alcohol sales reached US$253.8 billion in 2018 with an increase of 5.1% - $12.4 billion. It had been reported bw166.com that the average consumer spend as well as the average prices for alcoholic beverages had increased in 2018.
The report also said that the population of the legal drinking age reached 240.7 million by 2.4 million - 1% increase. Out of which, 2 million were over 60-years-old, proving that an aging population is helping to grow the alcohol industry.
The wholesale value of the US alcohol market in 2018 reached $125.3 billion with a 3.61% increase.
Beer - In 2018, beer consumption increased by 5%, which is $117.3 billion. The average retail price for a case of beer increased to $31.29, excluding on-premise markups.
Wine - Wine volumes increased by 1.4% to 431.8 million 9-liter cases, including 23.7 million cases of cider in 2018. The expenditure on wine by consumers increased by 4.91% - $72.2 billion. The average retail price for a 750ml bottle increased to $10.84, excluding on-premise markups.
Spirits - In 2018, the spirits volume increased by 2.9% - 235.6 million 9-liter cases. The consumer expenditure on spirits in 2018 increased by 5% - $64.3 billion. The average retail price for a 750ml bottle increased to $15.92, excluding on-premise markups.
USA Alcohol Statistics - 2019
According to a report by Statista, the market value of alcoholic drinks in the US in 2018 was $238 million.
In 2019, the U.S. market for alcoholic drinks reached around 250 billion U.S. dollars.
Talking about 2019, according to statista, in global comparison - most of the alcoholic drinks revenue is generated in the United States. The revenue of the US in the alcoholic drinks market amounts up to US$251,444m in 2019 and is expected to grow annually by 2.7% (CAGR 2019-2023). The market’s largest segment is the Beer market with a volume of US$115,678m in 2019. Statista also reported that in relation to total population figures, per person revenue generated is of US$764.12 in 2019.
USA Estimated Alcohol Statistics - 2020
The market value of alcoholic drinks in the US in 2020 is estimated to reach 258 billion U.S. dollars.
The presented data above by statista is the extensive research from secondary sources - national & international offices, trade associations, and the trade press. The primary sources include household budget surveys or statistics on industrial production and international trade. All data has been processed and predicted using statistical techniques like regression and cluster analyses to obtain comparable data for a global viewpoint of the market.
The USA Beverage Market is a never-declining market. It’s never a bad idea to enter into the US Beverage Market, as there will always be a certain audience that will be eager to grasp your product and take it to different levels all together.