Beer Market Trends

Growth Drivers

• Growing awareness about health - The number of people becoming more health-conscious is one of the factors driving the expansion of this industry. A study in 2021 indicates that around 21.5% of consumers worldwide claim to be actively attempting to cut back on their alcohol use. Younger customers are especially affected by this trend since they are more inclined to look for non-alcoholic and low-alcohol products.

•  Escalating e-commerce and online retail sector - The growth of e-commerce and online retail drives the market. In addition, e-commerce has provided manufacturers and retailers with new opportunities to gain a wider customer base. Consumers can more easily access several product types from the comfort of their homes through Internet stores and delivery services. According to the U.S. Census Bureau's estimates, US retail e-commerce sales for the 4th quarter of 2023 were USD 285.2 billion while overall retail sales are evaluated to be USD 1,831.4 billion.

Challenges

• Health issues associated with beer - The growth of this market is expected to be hindered by numerous health problems associated with beer and spirit consumption. Even though beer contains less alcohol, its consumption and mixing with other spirits can pose a problem. Liver tissue deterioration can occur due to excessive use of these beverages.

• Legal standards linked with alcohol consumption are predicted to hinder the market growth in the upcoming period.
  
  Side effects of beer are set to hamper the market growth in the forecast period