What’s next? The US Spirits Industry: Market Assessment and Forecasts to 2026
Source: Global Data
Executive summary
Market Environment
- The US spirits sector accounted for value shares of 15% and 88.7% in the global and North American markets respectively in 2021.
- In volume terms, the US sector accounted for shares of 17.2% and 93.6% in the global and North American markets respectively during the same year.
- Per capita consumption of spirits in US stood at 23.2 liters in 2021 and is expected to reach 29.7 liters in 2026. In 2021 it was higher than both the global level (6.8 liters) and the regional level (21.4 liters).
- Per capita expenditure of spirits stood at $419.6 in 2021 in US, which was higher than the global level ($140.5) and regional level ($409.3).
Sector Deep Dive
- The US spirits sector is expected to grow from $109.8 billion in 2021 to $137.6 billion by 2026, growing at a CAGR of 4.6%.
- In volume terms, the sector is expected to grow from 6.1 billion liters in 2021 to 7.8 billion liters in 2026, registering a CAGR of 5.1%.
- On-trade transactions accounted for 38.1% share of the sector by value and 23.8% share by volume in 2021.
Category Deep Dive
- Whiskey was the largest category in 2021, with value sales of $29 billion, followed by flavored alcoholic beverages with $24.4 billion.
- However, the flavored alcoholic beverages category is forecast to register the fastest value growth from 2021–2026, with a CAGR of 8.5%.
- Flavored alcoholic beverages was the largest category in volume terms in 2021, registering sales of 3.8 billion liters, followed by vodka.
- The flavored alcoholic beverages drinks is forecast to be the fastest-growing category in volume terms during 2021–2026, with a CAGR of 7.1%.
Distribution Channels Analysis
- Hypermarkets & supermarkets was the largest distribution channel in the US spirits sector in 2021.
- It accounted for a volume share of 54.4% in the year, followed by food & drinks specialists and convenience stores with shares of 11.7% and 4.9%, respectively.
- On-trade transactions accounted for a share of 23.8% in 2021.
Competitive Environment
- The Mark Anthony Group of Companies, Diaego plc, and Anheuser-Busch InBev, are the top three companies in the US spirits sector.
- The Mark Anthony Group of Companies accounted for a volume share of 18.8%, in 2021, followed by Diageo plc and Anheuser-Busch InBev accounted for volume shares of 8.8% and 7.3% respectively during the same year.
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Content Curation: Knowledge Office Bonfiglioli Consulting
