U.S. Craft Beer Market - Focused Insights 2023-2028

With over 100 varieties of craft beers provided by global and local competitors, the US craft beer business is a hub of invention and strong competition. Vendors must keep ahead of the curve as consumers regularly anticipate new innovations and product updates. Several companies are always introducing new craft beer styles to stay up with this fast-paced market.

The US has been collecting much of North America's craft beer revenue. Fuelled by an insatiable thirst for strong, flavourful brews and a boom in craft breweries across restaurants, pubs, and bars. The US craft beer market is on a frothy rise and is expected to reach a hefty $52.47 billion by 2028. Over the past few years, the country has seen explosive growth in the craft beer market thanks to pioneering R&D and a constant flow of innovative beers hitting the shelves.

The need for low-calorie choices, the robust presence of both large and small brewers, expanded off-trade distribution, and a thriving party culture all contribute to the demand's constant growth.

Leading this frothy revolution are players like D.G. Yuengling & Son, Inc., THE BOSTON BEER COMPANY, Sierra Nevada Brewing Co., Duvel Moortgat, and Constellation Brands, Inc., with noteworthy presence from New Belgium Brewing Company, The Gambrinus Company, STONE BREWING., Monster Beverage Corporation.

The demand for low-calorie diets, including low-calorie beers, has increased due to the rise in health consciousness Craft beers fit into this trend since they have fewer calories than standard beers, allowing beer lovers to indulge without feeling bad.

The recent trend towards off-trade distribution channels has further stimulated the demand for craft beer. Consumers continue to prefer the ease and variety that off-licenses, supermarkets, and online businesses offer, despite the pandemic's drive towards online ordering. Due to their considerable spending power, US consumers are more likely to sample the wide variety of craft beer flavors from the comfort of their homes.

The competition is fierce, but so is the opportunity, with multiple international competitors delivering high-quality, safe craft brews. This competitive scenario exemplifies the thriving, ever-changing US craft beer business landscape.

Key Highlight

• In 2022, the US craft beer market was valued at $29.03 billion and is expected to reach $52.47 billion by 2028, growing at a CAGR of 10.37% by value during the forecast period. In 2022, the US craft beer market was valued at 26.42 million BBL and is expected to reach 44.38 million BBL by 2028, growing at a CAGR of 9.03% by volume during the forecast period.
• The rise in demand for strong and flavorful craft beer causes a surge in the number of craft breweries in the US. The trend of small breweries in restaurants, bars, and pubs is rising. Many companies offer franchises of craft beer in the US. - The US food industry's demand for craft beer for food pairing is rising. Thus, vendors can focus on offering high-quality craft beer for the food industry.
• Social parties are popular among the millennial population. They prefer different tastes and flavorful craft beers. Thus, vendors can launch innovative products to attract the millennial population and gain revenue.
• Ale craft beer can be made easily in less time. Therefore, the demand for ale from restaurants, pubs, and bars is high.
• High-quality natural ingredients are common in breweries to increase beer's aroma, taste, and flavor. - The US craft beer market in the US witnessed significant growth due to increased overall demand for beer in the market, rise in demand for low-calorie beer, presence of large- and small-scale breweries, rise in demand for strong and flavorful beer, growth of off-trade distribution channel, the increased trend of parties, and a rise in several craft breweries.
• D.G. Yuengling & Son, Inc., THE BOSTON BEER COMPANY, Sierra Nevada Brewing Co., Duvel Moortgat, and Constellation Brands, Inc. are leading players with strong market penetration. New Belgium Brewing Company, The Gambrinus Company, STONE BREWING., Monster Beverage Corporation, etc., are other prominent players with a noteworthy presence in the market.