Why big beer companies are buying craft breweries
FOX Business’ Gerri Willis talks about the craft beer obsession in America and international beer expert Stephen Beaumont discusses the movement for bigger breweries buying smaller operations.
As the final year of the decade comes to a close, New Year’s Eve festivities are sure to be underway with a few six packs in fridges and coolers across the country.
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If you’re hosting New Year’s this year, you might want to know which trends and brands are doing well before you purchase beer for your guests. BeerBoard, an industry data and insights platform that manages over $1 billion in retail draft beer sales from 45,000 products, combed through the noise to create its “2019 Year in Beer” report.
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“Like any market, we analyze rises and falls in beer and its different categories, styles and brands," BeerBoard’s founder and CEO Mark Young told FOX Business. "Performance is driven by consumer preference, which now is trending back toward lighter and perceptibly ‘healthier’ options.”
“Domestic beers, led by light lagers, had a nice rebound and is on a two-year climb. Conversely, IPAs, for so long the driver of craft beer, are starting to hold flat or fall. What we expect to see in the coming year is an explosion of Draft Seltzer. It dominated in cans this past year and the move for retailers will be to get more of it on tap this coming year. All in all, it was a great year for beer.”
In the alcoholic beverage industry, BeerBoard reports that overall pour volume jumped 7.1 percent in 2019.
When it comes down to beer categories, domestic beers have been rebounding after a slump in 2017 that went below 50 percent – which was a first since BeerBoard started its calculations. By 2018, domestic beer rose to 51.5 percent.
At the end of 2019, BeerBoard estimates that demand for domestic beer has risen to 53.1 percent.
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