Preliminary figures released on March 16, 2015 by the Brewers Association show that 2014 was an outstanding year for the craft beer industry and there appears to be no sign of a slowdown.
According to Brewers Association data, craft beer accounted for 11 percent (by volume) of all beer sales in 2014. This marks the first time that craft beer has commanded a double digit share of the overall beer market. The retail value of craft beer was even more impressive, contributing $19.6 billion of the beer market, or 19.3 percent market share. Comparing these numbers to 2013 shows that craft beer volume increased 18 percent and retail dollar value increased by 22 percent.
Brewers Association chief economist Bart Watson sees economic clout in these figures.
“With the total beer market up only 0.5 percent in 2014, craft brewers are key in keeping the overall industry innovative and growing. This steady growth shows that craft brewing is part of a profound shift in American beer culture—a shift that will help craft brewers achieve their ambitious goal of 20 percent market share by 2020,” said Watson.“Small and independent brewers are deepening their connection to local beer lovers while continuing to create excitement and attract even more appreciators.”
The number of operating breweries in the United States also pushed higher, growing more than 19 percent and reaching 3,464 breweries at 2014 year end. Equally impressive is the relatively small number of closures. While 615 new breweries opened in 2014, only 46 closed. This is a sure sign of an industry in a stage of rapid growth.
“These small businesses are one of the bright spots in both our economy and culture. Craft brewers are serving their local communities, brewing up jobs and boosting tourism,” said Watson. “Craft brewers are creating high quality, differentiated beers; new brewers that match this standard will be welcomed in the market with open arms.”
The above figures are preliminary, but based on past years estimates are fairly reliable. The actual figures will be released by the Brewers Association on March 31, 2015 with an extensive analysis scheduled for release at the Craft Brewers Conference and Brew Expo America in Portland, Oregon April 14- 17, 2015.
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