Market Size of North America Craft Beer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 13.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Craft Beer Market Analysis
North America Craft Beer Market is projected to register a CAGR of 13% during the forecast period, 2022-2027.
The increase in craft beer consumption, particularly in the North American region, is aided by the growing awareness of its benefits among consumers. Craft beer provides more health benefits than the average red wine. Additionally, the change in consumer preference for tastier and low-alcohol-content beer is one of the primary reasons driving the growth of the ales beer category.
Moreover, the demand for unique flavors has been increasing in the region. In line with this trend, the manufacturers are also introducing many flavorful and strong craft beers in the market, including fruit & spice, honey flavored, sour, malty & sweet, and tart & funky flavors which have drawn the consumer's attention in the region. For instance, in September 2021, Blue Moon LightSky, the top-selling light beer in the craft segment, announced its plan to release a second flavor, called Blue Moon Light Sky Tropical in the United States in early 2022. The company claimed that this beer has a fresh, candied pineapple and orange scent and pours a light golden color with a faint haze. Floral flavors such as Chamomile elderflower and lavender balance and compliment flavors add subtle taste and smooth quality. Such addition of innovative flavors and new ingredients in craft beers have increasingly drawn consumers in the region. However, the low shelf life of the product is a major hindrance to the industry's growth. Hence, the brewers are shifting towards the production of products with longer shelf lives and less expensive ingredients which is expected to increase the production of craft lager.
COVID-19 impacted the North American craft beer market drastically with significant disruptions in supply chains and the impact of government measures to stem the spread of COVID-19 has extensively resulted in shuttering bars, restaurants, and clubs, a major channel for craft beer sales. According to the Distilled Spirit Council of the United States, 78 State stores in Alaska remained closed in March 2020, and 99 stores remained open with reduced hours or occupancy restrictions. These factors have significantly impacted market sales.
