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The market for beer in the North American region is estimated to record a CAGR of 1.47% during the forecasted period, 2019-2027. The surging growth of craft beer and the increasing consumption of beer are the factors expected to escalate market growth.
The North American region is studied on the basis of two regional markets, namely the United States and Canada. The US region is among the heaviest consumers of beer, and the consumption of beer is on the increase. Moreover, there has been a shift in the preference towards dark beers and lagers, premium brands in particular. This has resulted in many big names investing and launching products in such categories. The India pale ale is gaining traction, along with craft beer, in the Canadian market. Also, there is an increasing demand for cocktails, which has augmented the beer sales in the on-trade franchises. Although, there have been increasing imports in the Canadian region, the domestic breweries have somewhat sustained themselves owing to the rising consumption of craft beer. The new breweries in Canada have multiplied twice in the last five years.
The increasing number of mergers and acquisitions has benefited both, the big company names and the market growth. Heineken NV, Dogfish Head Craft Brewery, Inc., Diageo Plc, Constellation Brands, Squatters Pub and Beer, Molson Coors Brewing Company, Stone & Wood Brewing Co., and Sierra Nevada Brewing Co. are some of the major players in the region.
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