The Cleveland-based Freedonia Group forecasts that beverage demand in the United States will rise 1.6 percent annually in nominal terms through 2023, according to the market research firm’s “Beverages: United States” report. Gains will stem from increases in population and disposable personal income, which will drive purchases of higher-end and niche beverages, with the value of U.S. beverage shipments expected to advance at a 1.6 percent annual pace, it states.
In particular, suppliers of alcohol beverages will benefit from heightened consumer interest in premium products and brands, particularly in terms of craft beer and spirits. Demand in the leading beverage alcohol segment is expected to advance 3.6 percent each year, the fastest growth among all beverage segments, according to the report.