Minneapolis, Minn., (September 24, 2024) – The U.S. Beer industry decreased volume consumption by -3.1% in 2023 to 2.73 billion 2.25-gallon cases as only two beer segments -- imported and flavored malt beverages (FMBs) -- achieved any volume growth. Growth levels within imported and FMBs could not offset the significant decline of other domestic beer categories. The beer industry is in a precarious position as big brands have been losing ground, with volume consumption flat or declining in the past ten years. Beer remains the leading adult beverage consumed, but that lead is thinning. Beer’s revenue share in 2023 (41.8%) continues to slip below spirits, which persists to increase (42.2%).
Total domestic beer accounted for a 78.8% share of the overall category (-1.5% versus 2022). FMB’s increased case volume by 14.2% marking the fifth consecutive year of share gains. Anheuser-Busch InBev holds the largest share of total domestic beer at 35.2% (-2.6% vs. 2022), with five brands ranked within the top 10 of the Leading 100 Beer Brands as tracked by the Beverage Information Group. Four of those brands are in the light beer segment.
Light beer has shown steady declines, losing between 2-3% of its volume nearly yearly for the past decade. In 2023 lights saw a steep decline of -5.1%, moving total segment volume back to levels before 2003. Bud Light remained the top domestic brand but posted the highest year-over-year declines at -24.1% due to a controversial ad campaign. Bud Light's losses were not offset by the usual strong performance from top five ranked ABI-owned Michelob Ultra, which had been the only brand in the category achieving notable gains in the past decade but stalled in 2023.
“A bright side for the beer industry are imports which have added over 303 million cases since 2003, growing at an average rate of 3.8% through 2023”, says Marina Velez, Research Director at the Beverage Information Group. "Growth levels accelerated versus 2022, advancing 4.1% for the 13th consecutive year the category has posted volume gains."
Imports were the second fastest-growing beer segment of 2023, expanding category share (+1.5%) within the overall industry versus 2022 and representing the second largest category within total beer at 21.2% market share. Mexican brands continue to dominate the import segment with a 77.1% share of the category (+2.1% versus 2022). Seven of the top 25 leading brands are from Mexico. Two imports were positioned within the top 10 leading brands -- Modelo Especial and Corona Extra.
About the 2024 Beer Handbook
The Beverage Information Group’s 2024 Beer Handbook is a comprehensive source of information on U.S. beer trends. It includes volume consumption information by category and market, tracks leading brands, and reports historical data.
Order this publication at www.epgspecialtyinformation.com or contact Sherai Falcon at sfalcon@epgmediallc.com or 763-383-4400 ext. 4423.
