For the U.S. beer market, the road to recovery has the major players determined to innovate the category as it faces more competition from novelty beverage alcohol products.
“The U.S. beer market is in a moment of recovery following declines associated with the COVID-19 pandemic, lackluster international demand and heightened competition from ready-to-drink (RTD) cocktails,” said Grace Wood, industry analyst for Los Angeles-based IBISWorld, in Beverage Industry’s March eMagazine. “Consumers are demanding more variety and novelty, which is stimulating growth from regional and craft brewers.”