LONDON--(BUSINESS WIRE)--The alcoholic beverages market in US is expected to grow by USD 64.01 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%.
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The market is driven by new product launches. In addition, the increasing number of M&As are anticipated to boost the growth of the alcoholic beverages market in the US.
Successful product launches are crucial in increasing the revenue flow of the company and expanding the customer base. Hence, players in the market are focusing on launching new and improved products to gain a competitive advantage over their rivals. For instance, in June 2018 BOM BOM Brands launched a new alcoholic beverage under the brand name, Fully Baked in the US. The product is a blend of chocolate chip cookie and brownie flavors with premium Caribbean rum and hemp milk. Similarly, in June 2018, Quaker City Mercantile and Diageo jointly launched a new line of alcohol drinks under the brand name, Quaker City Shrubs. The new product is available in grapefruit, blackberry, and apple flavors. Many such product launches are fueling the growth of the alcoholic beverages market in US.
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Major Five Alcoholic Beverages Companies in US :
Anheuser Busch InBev SA/NV
Anheuser Busch InBev SA/NV operates its business through segments such as North America, Latin America West, Latin America North, Latin America South, EMEA, APAC, and Global Export and holding companies. The company offers beer under numerous brands including Brahma, Aguila, Budweiser, Corona, Kirin, and others.
Bacardi Ltd. operates its business through segments such as BACARDI Rum, DEWAR'S Blended Scotch Whisky, and Others. The company offers spirits and wine products under many well-known brands such as Bombay Sapphire, Dewar, Bacardi, Martini Vermouth, Eristoff, Grey Goose, Aberfedly, and Cazadores.
Beam Suntory Inc.
Beam Suntory Inc. operates its business through segments such as Whiskey, Tequila, and Others. The company offers spirit products under numerous brands including Jim Beam, Hibiki whisky, Vox vodka, and others.
Brown-Forman Corp. operates its business through a unified operating segment. The company offers products such as whiskey, scotch, tequila, vodka, wine, and gin.
Carlsberg Breweries AS
Carlsberg Breweries AS operates its business through segments such as Western Europe, Asia, Eastern Europe, and Not allocated. The company offers alcoholic and non-alcoholic products under international and local brands.
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Alcoholic Beverages Market in US Product Outlook (Revenue, USD Billion, 2020-2024)
Alcoholic Beverages Market in US Distribution Channel Outlook (Revenue, USD Billion, 2020-2024)
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Related Reports on Consumer Staples Include:
Global Alcoholic Drinks Market – Global alcohol drinks market by type (beer, wine, spirits, RTD pre-mixes, and cider) and geographic landscape (APAC, Europe, MEA, North America, and South America).
Global Low-Alcohol Beer Market – Global low-alcohol beer market by distribution channel (offline and online) and geography (Europe, APAC, North America, MEA, and South America).
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