Alcoholic Drinks - United States

The Alcoholic Drinks market in United States has been experiencing significant growth in recent years.

Customer preferences: One of the key customer preferences in the Alcoholic Drinks market in United States is the demand for craft beers. Consumers are increasingly interested in unique and locally brewed beers, which has led to a surge in the number of craft breweries across the country. This preference for craft beers is driven by a desire for high-quality, flavorful beverages that offer a more personalized and artisanal experience.

Trends in the market: Another trend in the Alcoholic Drinks market in United States is the growing popularity of spirits, particularly whiskey. Whiskey consumption has been on the rise in recent years, driven by a combination of factors including the rise of craft distilleries, increased interest in mixology and cocktails, and the perception of whiskey as a sophisticated and premium drink. This trend is also reflected in the growing number of whiskey bars and tasting events across the country.

Local special circumstances: The Alcoholic Drinks market in United States is heavily regulated, with each state having its own set of laws and regulations governing the production, distribution, and sale of alcoholic beverages. This can create challenges for both domestic and international players in the market, as they must navigate a complex and fragmented regulatory landscape. Additionally, the legal drinking age in the United States is 21, which can impact the target demographic for alcoholic beverage companies.

Underlying macroeconomic factors: Several underlying macroeconomic factors have contributed to the growth of the Alcoholic Drinks market in United States. One factor is the strong economy, which has led to increased consumer spending on discretionary items such as alcoholic beverages. Additionally, changing demographics, including the rise of millennials as a key consumer group, have also influenced the market. Millennials tend to value experiences and are willing to spend more on premium and craft products, which has benefited the Alcoholic Drinks market. Lastly, the growing trend of socializing and dining out has also contributed to the growth of the market, as consumers are more likely to consume alcoholic beverages in restaurants and bars.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.