Beer, Wine & Liquor Stores in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 44531Revenue
$79.9bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
214k
Businesses
46,633
Wages
$X.Xbn
Beer, Wine & Liquor Stores in the US industry analysis
Beer, wine and liquor stores have remained in high spirits over the past five years despite some uncharacteristic volatility. A rise in disposable income levels has boosted sales of high-margin and imported beverages, typically less available at alternative retailers. Consumer preferences have shifted away from popular global beer brands to local craft styles with high-quality ingredients and higher profit margins. A rise in e-commerce has encouraged many stores to incorporate online orders and delivery, boosting sales among younger demographics. Over the past five years, revenue for beer, wine and liquor stores has been expanding at a CAGR of 2.2% and is expected to rise 2.9% in 2024 alone, when sales will reach $79.9 billion.
Trends and Insights
- Increasing disposable income has driven sales of high-margin and premium imported beverages. Additionally, consumer preferences are leaning towards local craft styles, which offer higher quality ingredients and profit compared to global brands.
- The younger demographic (ages 21 to 44) is driving the shift toward premium, high-quality alcoholic beverages and exploring sober curiosity, significantly boosting online sales. This trend underscores the importance of e-commerce platforms in capturing these health-conscious, tech-savvy consumers.
- Regulatory environments vary significantly across states, influencing the distribution of beer, wine and liquor stores. States like Pennsylvania and Utah have state-controlled systems, while California and Nevada's liberal laws allow higher store concentration in the West.
- Supermarkets have become a significant substitute for traditional liquor stores. As more states relax alcohol sale laws, supermarkets are expanding their offerings, providing convenience for customers purchasing groceries and alcohol in one trip.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.2 % over the past five years, to reach an estimated $79.9bn in 2024.
Trends and Insights
The pandemic provided a period of substantially reduced competition
- During the pandemic's peak, consumers were largely unable to frequent on-premise establishments, like bars, restaurants, wineries and breweries; however, demand for alcoholic beverages remained high, resulting in a substantial spike in beer, wine and liquor store sales that mostly remained open.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Deregulation is set to heighten competition from other retailers
- Over the next five years, more states will continue deregulating beer, wine and liquor retail as state budgetary concerns put pressure on state-run liquor stores.
Biggest companies in the Beer, Wine & Liquor Stores in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Total Wine and More | 6,050.5 | 229.4 | 3.8 | |
Yankee Spirits | 387.9 | 11.2 | 2.9 | |
ABC Fine Wine & Spirits | 373.1 | 12.3 | 3.3 |
To view the market share and analysis for all 11 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Spirits, Wine and Beer. Spirits is the largest segment of the Beer, Wine & Liquor Stores in the US.
Trends and Insights
Regulations keep spirits sales flowing
- The spirit segment includes the largest variety of alcoholic beverages, including vodka, gin, rum, whiskey and many other spirits. Spirits are typically more costly than beer and certain wines.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Breweries in the US
- Wineries in the US
- Distilleries in the US
- Convenience Stores in the US
Complementors
- Soda Production in the US
- Bottled Water Production in the US
- Juice Production in the US
International industries
- Beer, Wine & Liquor Stores in Canada
- Liquor Retailing in Australia
- Liquor Retailing in New Zealand
- Off-Licences in the UK
- Online Alcohol Retailing in the UK
Table of Contents
About this industry
Industry definition
Operators in this industry include retail stores specifically licensed to sell packaged alcoholic beverages, including beer, wine and liquor, for off-premises consumption.
What's included in this industry?
BeerWineSpiritsTobacco productsSnacksSoft drinksCompanies
Total Wine and MoreYankee SpiritsABC Fine Wine & SpiritsPurchase this report to view all 11 major companies in this industry.
Related Terms
ALCOHOLIC BEVERAGESON-PREMISESOFF-PREMISESMOM-AND-POP STOREIndustry Code
NAICS 44531 - Beer, Wine & Liquor Stores in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Increasing disposable income has driven sales of high-margin and premium imported beverages. Additionally, consumer preferences are leaning towards local craft styles, which ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The younger demographic (ages 21 to 44) is driving the shift toward premium, high-quality alcoholic beverages and exploring sober curiosity, significantly boosting online sale...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Regulatory environments vary significantly across states, influencing the distribution of beer, wine and liquor stores. States like Pennsylvania and Utah have state-controlle...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Supermarkets have become a significant substitute for traditional liquor stores. As more states relax alcohol sale laws, supermarkets are expanding their offerings, providing...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The Beer, Wine and Liquor Stores industry has no major players. State regulations prohibit the vertical integration of retail stores and prevent any retailer from gaining sub...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Total Wine and More's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Yankee Spirits's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of ABC Fine Wine & Spirits's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 8 additional companies
Detailed analysis
- Description and key data for Total Wine and More, and factors influencing its performance in the industry
- Description and key data for Yankee Spirits, and factors influencing its performance in the industry
- Description and key data for ABC Fine Wine & Spirits, and factors influencing its performance in the industry
- Description, key data and performance trends for 8 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
State regulations create a complex operational environment for liquor store owners. Each state has distinct laws affecting distribution, pricing and product variety, complica...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases dominate expenses, buoyed by improved distribution and regulatory changes. Eased shipment regulations and reduced costs post-pandemic enable liquor stores to compet...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Beer, Wine & Liquor Stores in the US industry in United States in 2024?
The market size of the Beer, Wine & Liquor Stores in the US industry in United States is $79.9bn in 2024.
How many businesses are there in the Beer, Wine & Liquor Stores in the US industry in 2024?
There are 46,633 businesses in the Beer, Wine & Liquor Stores in the US industry in United States, which has grown at a CAGR of 2.6 % between 2019 and 2024.
Has the Beer, Wine & Liquor Stores in the US industry in United States grown or declined over the past 5 years?
The market size of the Beer, Wine & Liquor Stores in the US industry in United States has been growing at a CAGR of 2.2 % between 2019 and 2024.
What is the forecast growth of the Beer, Wine & Liquor Stores in the US industry in United States over the next 5 years?
Over the next five years, the Beer, Wine & Liquor Stores in the US industry in United States is expected to grow.
What are the biggest companies in the Beer, Wine & Liquor Stores in the US market in United States?
The biggest companies operating in the Beer, Wine & Liquor Stores market in United States are Total Wine and More, Yankee Spirits and ABC Fine Wine & Spirits
What does the Beer, Wine & Liquor Stores in the US in United States include?
Beer and Wine are part of the Beer, Wine & Liquor Stores in the US industry.
Which companies have the highest market share in the Beer, Wine & Liquor Stores in the US in United States?
The company holding the most market share in United States is Total Wine and More.
How competitive is the Beer, Wine & Liquor Stores in the US industry in United States?
The level of competition is high and increasing in the Beer, Wine & Liquor Stores in the US industry in United States.
