According to the latest data from the Beer Marketer Insights (BMI) report, Americans are currently drinking beer at its lowest level since the 90s of the 20th century.
According to the report, U.S. beer shipments fell by 5% in the first three quarters of 2023 and are expected to fall below 200 million barrels for the full year. As a result, it would be the lowest level of beer consumption in the U.S. since 1999, while the population has grown by 23% since the millennium.
Bmi's vice president D**ID Steinman said in an interview that this year has been a difficult year for the beer industry, with global brands that are particularly popular in the United States, including Coors Light, Miller Light and Bud Light, all declining.
Steinman said the long-term decline was due to competition from many new alcoholic products, which were produced by producers such as Anheuser Busch, who had not traditionally dominated the market.
Lester Jones, vice president and chief economist for analytics at the National Beer Wholesalers Association, added that some of the world's largest soft drink and energy companies have launched sugar-sweetened alcoholic beverages, all of which are vying for market share in beer products.
While traditional pale beer varieties and the U.S. beer market as a whole are declining, imported beers such as Modro have increased their market share and become the best-selling beer brand in the U.S.
In addition, beer sales in the rest of the world remain strong, and continued growth in premiumization means that profits have increased amid declining volumes.
Jones added that the U.S. beer industry experienced a "crazy growth" in 2023, following a decline in craft beer sales that dominated the 2010s, and beer now has to compete with a variety of alcoholic beverages, creating an oversupply in the alcohol market and a rapid influx of new products.
The information comes from China International Beer Network.