Craft beers surge in popularity, with more than 7,000 craft brewers in U.S. alone. The event’s attendance is just one example of the growing popularity of craft beer – beer made by small independent operations/brewers. In 2018, domestic sales reached a record $27.6 billion, representing 24% of the American beer market.
Why is craft beer growing?
Changing lifestyles is one of the propelling factors of target market growth. In addition, the rising preference of individuals for low alcohol has also boosted the target market growth. Moreover, craft beer offers exotic flavor, this has enhanced the target market growth as well.
Are microbreweries on the rise?
Total U.S. Of the three categories of craft beer, microbreweries have contributed the most to recent production growth. Last year, they accounted for 80% of this growth, up from 60% in 2017. For microbreweries, that number is 15,000 barrels (460,000 U.S. gallons) of beer per year.
Why are microbreweries so popular?
Nearly half of our survey respondents drink craft beer because they like to try something new. With craft beer, consumers can experiment with a huge diversity of beer styles and taste profiles. And the younger the consumers are, the more likely they are to drink craft beer outside the home, at a pub or restaurant.
How much revenue does a brewery make?
Through our team’s extensive experience working with craft breweries, we’ve seen a 3,000-barrel brewery making almost $3 million in revenue while profiting $300,000. Ninety percent of sales come from the taproom. We’ve also seen a 3,000-barrel brewery making almost $3 million in revenue while profiting $50,000.
How much has the craft beer industry grown?
The craft beer industry continues to grow at a rapid rate. In the past 8-years, the United States craft beer industry has posted double-digit growth and now represents 12% of the total beer market in terms of volume.
