Why are craft businesses so much more popular than brands?
- by admin
The top craft and specialty craft brewers are gaining in popularity across the country, with more than 1,500 new breweries opening this year.
They’re more likely to be small, independent and craft, according to the Brewers Association.
The number of craft breweries has grown at a faster pace than overall beer sales, and in 2017, there were about 2.7 million more craft beers sold than the year before.
This year, the craft beer industry has a total market value of $2.4 trillion, and according to Beer Marketer’s Insights, the beer industry is expected to hit $3.8 trillion by 2025.
“The market for craft beer is growing at a rapid pace,” said Jefferies Group Chief Economist Michael DeMoss.
“That’s great news for beer drinkers, craft brewers, and craft beer aficionados.”
Craft beer is booming in the U.S. The craft beer sector has increased its market share in the last few years, according a new report by the Brewers and Distillers Association.
More than 4.5 million Americans purchased craft beer in the first half of this year, up almost 8 percent from the same time last year.
That figure grew to nearly 10 million in the second half of the year.
It also surpassed the 6.7-million mark in sales of all beers.
“It’s really an extraordinary year for the craft and craft-focused beer industry,” said Brett Knecht, chief economist at the Brewers Guild.
“There is a lot of room for growth, and it’s very likely to continue.”
The industry is growing in many ways, Knehtch said.
In 2017, more than 4 million people in the United States purchased craft beers.
The Brewers Association says that includes more than half of craft brewers nationwide.
They also have an estimated 1.6 million distributors.
The association says that in the past five years, craft beer sales have increased by almost 15 percent in the beer market and by nearly 40 percent in craft-breweries.
And in the craft category alone, there are more than 400 craft breweries in the country.
There’s been a huge boost in the number of breweries opening in recent years, too.
In 2016, the number had reached a low of 2,700.
By 2017, that number had jumped to more than 7,500.
“We’re in a very robust period for the industry,” Knech said, adding that there’s plenty of room to grow in the next few years.
“If we can continue to grow that growth, it’s going to continue to provide an excellent opportunity for the United, states and the nation as a whole.”
The craft industry has grown over the last decade Craft beer and beer related companies have become more mainstream in the world of beer.
According to data from the Brewers, more and more Americans are now interested in beer and its associated flavors and aromas.
But the craft market is still in its infancy.
Craft brewers have struggled to find consumers, as more and better breweries have opened up.
That means there are still a lot more unknowns than answers.
That’s a big part of why it’s so hard to make meaningful comparisons with the bigger beer industry.
“You’ve got to understand that craft beer as an industry is still very young,” Kiehl said.
“When you look at the big beer industry, it is still developing.
There are a lot, and I think it’s great.
But craft brewers need to understand the scope of the industry, and how big the craft pie really is.”
The big question for craft brewers is whether the beer drinkers who are now embracing the beer will continue to buy the smaller, less popular craft beer brands, or if they’ll abandon the craft brands entirely.
“Consumers are definitely willing to pay more for the larger brands, but they are also willing to wait longer for the smaller brands,” Kiesh said.
The new trend is for consumers to buy more craft brands.
The market for beer is increasing at a fast pace, said Brett Gershon, chief strategist at the Beer Institute.
The industry has added more than 500 craft breweries over the past decade.
But there’s still a long way to go to fully realize the potential of the craft sector.
For craft beer lovers, there is one thing that is clear.
“Beer is the new wine,” said Gershon.
“With beer, you’re not just going to be a fan of beer for a long time.”
The top craft and specialty craft brewers are gaining in popularity across the country, with more than 1,500 new breweries…