Mexican beer continues to show impressive growth in the U.S.
U.S. – Though Cinco de Mayo is not generally recognized in Mexico as a major holiday, it’s become quite a popular occasion in the United States, helping drive the growth of tequila, mezcal and Mexican beer.
According to research from IWSR Drinks Market Analysis, consumption of agave-based spirits was up about 9% in the United States last year, and the leading eight brands of Mexican beer posted a combined CAGR of more than 10% over the past 5 years.
Mezcal consumption in the U.S. was up 32.4 percent last year, posting the largest gain among all spirits. Tequila was up 8.5%. Collectively, the agave-based spirits category is forecasted to grow by 4% CAGR through 2022, which places it within close striking distance to soon overtake rum volume in the United States.
The picture is similar with Mexican imported beer, which outperformed all other segments within the beer industry in 2018. The top eight Mexican beer brands collectively added 11.3m hectoliters to the beer market last year and are quickly gaining on their domestic competitors.
“Beer brands such as Modelo and Corona have shown impressive growth over the past several years, and are quickly gaining on their domestic competitors”, stated Brandy Rand, U.S. president of IWSR Drinks Market Analysis.
Source: Craft Brewing Business