Within the past decade, the shift in consumer demand for variety and “local” beverages has resulted in a craft beer revolution in the United States. The craft segment has increased double digits in each of the past three years, despite the flat performance of the overall beer category, according to analysts. And as wine and spirits work to steal share from the beer category, craft beer has been one of its “saving graces,” says Jared Koerten, senior analyst for Euromonitor International, Chicago. In fact, the segment has been performing so well that it now represents the fastest-growing alcohol category by revenue in the United States, IBISWorld reports.
And this growth is slated to continue. The New York-based market research firm estimates that the craft beer segment will grow 16.8 percent this year and 13.5 percent next year, says Nick Petrillo, alcohol industry analyst at IBISWorld.