LONDON–(BUSINESS WIRE)–The beer market in the US is expected to post a CAGR of over 2% during the period 2018-2022, according to the latest market research report by Technavio.

Beer Market

A key factor driving the growth of the market is the rapidly increasing number of craft breweries. Over the years, the demand for craft beer has grown significantly in the US. The segment covered an estimated 23.34% of the overall beer market in the US. The growth of the craft beer market in the US has also increased the number of craft brewers in the US in various states. The increasing and rising rapid expansion of breweries in the US has contributed to an increase in the availability of beer in the market. Most of the breweries have introduced their own and unique beers. This has given customers increased opportunity to try new beer flavors. Thus, the demand for craft beer has led to the growth of the beer market in the US.

This market research report on the beer market in the US 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the introduction of new beer flavors as one of the key emerging trends in the beer market in the US:

Beer market in the US: Introduction of new beer flavors

The growing popularity of flavored beer in the US is attributable to the increasing volume of consumers in the beer market in the US. The introduction of new flavors in the craft beer segment has led to a boost in the beer market in the US. Flavors set a beer apart from one another and act as a point of differentiation for the consumers. The millennials, one of the largest demography in the US population, is a targeted segment of breweries. The preference of millennials towards flavored beers has seen breweries adopting and incorporating newer flavors in their beer offerings. For example, in April 2018, AB InBev launched Bud Light orange, an orange flavored Light in an aim to capitalize on the popularity of flavored lagers. Thus, the increasing demand for new flavors is expected to lead to the introduction of new flavored beers during the forecast period.

“Along with introduction of new beer flavors, another major factor boosting the growth of the market is multicultural millennials. These millennials are open to experimenting with new products and flavors. The increasing demand for different beers styles and flavors among millennials is driving the growth of the craft beer segment in the beer market in the US,” says a senior analyst at Technavio for research on alcoholic beverages.

Beer market in the US: Segmentation analysis

This market research report segments the beer market in the US by product (craft beer and non-craft beer).

The non-craft beer segment led the market in 2017 with a market share close to 77%, followed by the craft beer segment. However, during the forecast period, the craft beer segment is expected to register higher incremental growth as compared to non-craft beer, which will see a commensurate decline in its market share.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

 

Technavio

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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www.technavio.com

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