2023 wasn’t a great year for the alcohol industry as a whole, but it was particularly tough for the beer business. While total beverage alcohol (TBA) experienced a 2.6 percent volume decline, beer plummeted by 5.1 percent, presenting several challenges for brewers.
Despite predictions that the market would level out slightly in 2024, volume decline persisted across categories from January to July 2024. According to new data from U.K.-based data analytics firm IWSR, TBA volume declined by 2.8 percent in the first seven months of the year, with beer alone down 3.5 percent.
