American Craft Beer The Best Craft Beer, Breweries, Bars, Brewpubs, Beer Stores, And Restaurants Serving Serious Beer.
That’s serious money for serious beer by 2032 according to drinks analysts and it possibly could generate more.
Here’s the deal…
The US craft beer sector, which currently stands at $103.2 billion, is poised to reach a registered compound annual growth rate of 10.6% from 2023 to 2032, according to a recent report from Market.US.
2022 sales data showed that ales“dominated” the craft beer sector, largely due to their “diverse flavor profiles, rich brewing traditions, and ability to cater to a wide range of consumer tastes and preferences.”
“The continued establishment of small, independent craft breweries has contributed to market growth analysts cited… These breweries offer various beer styles, fostering innovation and competition within the industry. Craft beer tourism has become a significant driver, with enthusiasts visiting breweries for tours, tastings, and events” a trend which “supports local economies and drives sales for craft breweries.’
“The global craft beer market has seen a surge in microbreweries. These small-scale breweries are known for their quality, experimentation, and personalized offerings, challenging established brands. They cater to diverse tastes and artisanal craftsmanship, offering limited-edition seasonal brews and adventurous flavor profiles. Health-conscious trends have also impacted the craft beer market, with consumers preferring lower alcohol content and distinctive ingredients like fruits and spices”.
According to the report’s findings North America dominates the global craft beer market, accounting for 38% of global revenue. This is due to “its rich culture, particularly that in both America and Canada” playing a part in this dominance and noted that “pioneering breweries like Sierra Nevada and Anchor Steam helped lay down the roots of craft beer worldwide”.
Additionally, the craft beer sector’s “size and diversity, ranging from small local establishments to large, established players, cater to various consumer preferences” plus “the ‘drink local’ ethos has also driven consumer support for local breweries, ensuring a diverse range of craft beer options.”
Bottom line…
In spite of craft beer’s growth in the US slowing, It’s future remains bright and it is projected to become a $282 billion dollar biz In 10 years according to this report.
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