Alcoholic Drinks - NAFTA

The Alcoholic Drinks market in NAFTA is experiencing significant growth and development.

Customer preferences: Customers in the NAFTA region have shown a strong preference for a wide variety of alcoholic drinks. Beer continues to be the most popular choice among consumers, with a particular emphasis on craft and specialty beers. Wine consumption is also on the rise, with consumers showing an increasing interest in premium and organic wines. Spirits, such as vodka, rum, and tequila, are gaining popularity, especially among younger consumers who are seeking unique and innovative flavors. Additionally, there is a growing demand for ready-to-drink cocktails and low-alcohol beverages, as health-conscious consumers look for alternatives to traditional alcoholic drinks.

Trends in the market: One prominent trend in the Alcoholic Drinks market in NAFTA is the increasing popularity of craft and specialty beers. Consumers are gravitating towards unique and locally brewed beers, appreciating the craftsmanship and quality that these beverages offer. This trend is fueled by the growing number of microbreweries and brewpubs in the region, which are catering to the demand for small-batch, artisanal beers. Another trend is the rise of premium and organic wines. Consumers are becoming more discerning in their wine choices, seeking out high-quality wines from renowned vineyards. The demand for organic wines is also on the rise, as consumers are increasingly concerned about the environmental impact of their consumption choices. In the spirits category, there is a growing interest in flavored and craft spirits. Consumers are looking for innovative and unique flavors, as well as locally produced spirits that showcase regional ingredients and traditions. This trend is driven by the desire for new and exciting drinking experiences, as well as the growing interest in supporting local businesses.

Local special circumstances: The Alcoholic Drinks market in NAFTA is influenced by several local special circumstances. In the United States, for example, the craft beer movement has gained significant traction, with consumers embracing the wide range of flavors and styles offered by small, independent breweries. In Mexico, tequila and mezcal are deeply ingrained in the culture and are experiencing a resurgence in popularity both domestically and internationally. In Canada, there is a growing interest in Canadian whiskey, with consumers recognizing the quality and craftsmanship of this spirit.

Underlying macroeconomic factors: The growth and development of the Alcoholic Drinks market in NAFTA can be attributed to several underlying macroeconomic factors. These include a strong and stable economy, rising disposable incomes, and changing consumer preferences. As the economy continues to grow, consumers have more purchasing power, allowing them to explore different alcoholic beverages and experiment with new flavors. Additionally, changing consumer preferences, driven by factors such as health consciousness and a desire for unique experiences, are shaping the market and driving innovation in the industry. Overall, the Alcoholic Drinks market in NAFTA is experiencing significant growth and development, driven by consumer preferences for craft and specialty beers, premium and organic wines, and unique and innovative spirits. The market is also influenced by local special circumstances, such as the craft beer movement in the United States and the cultural significance of tequila in Mexico. Underlying macroeconomic factors, including a strong economy and changing consumer preferences, are contributing to the growth and development of the market.

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.