How large is the craft beer industry?
According to the research study, the global Craft Beer Market was estimated at USD 110 Million in 2019 and is expected to reach USD 200 Million by 2026. The global Craft Beer Market is expected to grow at a compound annual growth rate (CAGR) of 8% from 2019 to 2026.
Is the craft beer market growing?
Technavio has been monitoring the craft beer market and it is poised to grow by USD 47.79 billion during 2020-2024, progressing at a CAGR of almost 13% during the forecast period.
How popular is craft beer?
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.
What percentage of craft beer sales is IPA?
Tracking the Growth of IPAs
In 2020, the overall IPA category accounted for 19 percent share of beer sales on Drizly, making it the second-best selling category after hard seltzer. This was up from 2019, when IPAs held 16.5 percent of beer share on Drizly, indicating the category’s strong year-over-year growth.
Are craft beer sales declining?
As a result, craft beer lost some of its market share. It now makes up 12.3% of the overall beer market, compared to 13.6% the year before. In terms of hard dollars, the industry took in $22.2 billion, a 22% decline over 2019. That decrease in production led to fewer jobs as well.
Which country drinks the most beer?
Top 10: Countries that drink the most beer
- Czech Republic. 188.6 litres per capita.
- Austria. 107.8 litres per capita.
- Romania. 100.3 litres per capita.
- Germany. 99.0 litres per capita.
- Poland. 97.7 litres per capita.
- Namibia. 95.5 litres per capita.
- Ireland. 92.9 litres per capita.
- Spain. 88.8 litres per capita.
Why is craft beer so good?
Better Taste
Craft beer has a richer and more distinct taste than watery mass produced beer. Most craft brewers are passionate about the taste and flavour of their beer. So they invest the time and energy required to maintain or improve the quality of the beer instead of concentrating on huge marketing campaigns.
Why do people choose craft beer?
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.
Why do Millennials love craft beer?
Millennials like supporting businesses that have the power to make a difference in their life. As far as Millennials go, drinking “healthier” beer that’s typically less expensive with more alcohol content than regular beer, gives them another reason to purchase craft beer.