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Roughly two in five (43%) of Americans drink craft beer at least occasionally, while roughly half (53%) say they never drink craft beer. The survey defines craft beer as “beer brewed in smaller quantities by independent brewers.”May 13, 2020.
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 the market is craft beer?
In 2020, craft beer accounted for nearly a quarter of the total U.S. retail beer market. After years of increasing market share, 2020 represented the first year of decline at 23.6 percent compared to 2019’s 25.2 percent.
Who is most likely to drink craft beer?
The age group of craft beer drinkers most likely to drink craft beer weekly in the United States were 35 to 44 year olds. In 2019, 52 percent of craft beer drinkers within that age range stated that they drank the beverage weekly.
How many Millennials drink craft beer?
By 2018, sales data showed that millennials were buying 34 percent of craft beer, compared with 20 percent for baby boomers (born 1946–64) and 13 percent for the Greatest Generation (born before 1928). Half of millennials said they drank craft beer, compared with 36 percent of the country overall.
Why has craft beer become 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.
Is the craft beer industry 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 big is the craft beer market?
The COVID-19 pandemic market impact In that year, California boasted over 900 craft breweries, the most of any U.S. state. In terms of production, craft beer volume amounted to about 23.1 million barrels in 2020, a reduction of roughly 3.2 million barrels compared to 2019 and the first decline ever.
How much is the craft beer industry worth?
Retail dollar value was estimated at $22.2 billion, representing 23.6% market share and a 22% decline over 2019. Craft brewers provided more than 138,000 direct jobs, a 14% decrease from 2019.
How big is the US craft beer market?
The Size of the North America Craft Beer Market is worth US $ 45.03 million in 2021, and it is estimated that it will reach a valuation of US $ 121.69 million by the end of 2026, registering at an annual growth rate of 22% between 2021 and 2026.
Who is the target audience for craft beer?
These craft beers tend to cost more than big-name beers such as Budweiser or Coors, and they often have complex or even challenging flavors. The target audience for a microbrewery is usually upscale, well-educated and more interested in flavor than quantity.
Who is the target audience for beer?
Young Men Drink the Most Looking at the numbers, men tend to drink more alcohol than women, and whites more than nonwhites. Men age 18 to 49 drink the most, according to the Gallup poll, which explains why so much alcohol marketing seems to target them. Women are also a targeted demographic for alcohol use.
What age group consumes the most beer?
Those drinking the most were between the ages of 21 and 24 (averaging 23.3 servings per month), while seniors drank 12.5 servings, the lowest by age group. The majority of beer, 63%, is drunk at home. More than half of American beer drinkers say their household beer consumption is the same as it was last year.
How much do Millennials spend on craft beer?
According to our poll, 43% of Millennials said they visit a brewpub or brewery at least once per month and spend about $63 a month on craft beer per month. (So much for that avocado toast budget!). There’s also a good chance they’ll be sipping on an IPA, which is the generation’s preferred style of beer.
What kind of beer do Millennials drink?
Most millennials, who now range in age from 23 to 38, said hoppy IPAs (India Pale Ale) is their preferred craft beer. Other types include American Pale Ale, Brown Ale and Porter. More than half (56%) of millennials said they drank an ice cold craft brew at least once a week.
Is craft beer a niche market?
The growth in both the numbers of operations, the continually growing percentage of market share and sales gives strong support to the notion that home brewers are driving the market, and craft beer enthusiasts more broadly, can indeed be viewed as an important and attractive niche consumer market.
When did craft beer get popular?
Modern U.S. craft beer history began in the 1960s. You may know part of the story—the increasing popularity of homebrewing beer in the 1970s and the rise of microbreweries in the 1990s.
What led to the craft beer revolution?
The birth and growth of the craft beer market was caused by several factors, including demand-side factors, supply-side factors, and the role played by pioneers, consumer organizations, the spread of information and knowledge through networks, and emerging capital and technology markets.
What started the craft beer movement?
The first cause is something simple yet capricious—consumer tastes. “At the end of the day, the craft-beer movement was driven by consumer demand,” said Bart Watson, the chief economist at the Brewers Association, a trade group.
