$7.2bn
$XXX.Xm
17,377
10,130
$XXX.Xm
Once seen as a hobby, craft beer has transformed into one of the fastest-growing and most popular alcoholic beverage segments in the United States. However, the once-booming industry has reached a tipping point over the past decade, as oversaturation and the emergence of many substitutes have stalled revenue growth. The pandemic coincided with craft brewery's growth approaching normalization, resulting in a period of drastic volatility. Unlike some of its external competitors, craft breweries struggled to maintain consistent growth in the pandemic's wake. Thus, revenue has been sinking at a CAGR of 3.8% over the past five years and is estimated to fall 1.9% in 2024 alone, when revenue will reach $7.2 billion.
Industry revenue has declined at a CAGR of 3.8 % over the past five years, to reach an estimated $7.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
The Boston Beer Company, Inc. | 430.4 | 35.8 | 8.3 | |
DG Yuengling & Son Inc. | 82.4 | 3.5 | 4.2 |
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Industry revenue is measured across several distinct product and services lines, including IPA, Pale and amber ale and Seasonal. IPA is the largest segment of the Craft Beer Production in the US.
Consumers still prefer craft IPAs
This industry includes microbreweries and brewpubs that produce beer for resale or consumption on premises. A microbrewery produces a limited amount of beer, typically no more than 6.0 million barrels (189,000,000 US gallons) of beer per year. A brewpub brews and sells beer on the premises and may prepare and serve food to dining patrons. A brewpub may also be considered a microbrewery if it engages in a significant amount of beer distribution on a regional level.
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NAICS 31212 - Craft Beer Production in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The craft craze is decelerating as consumers look to alternative beverages. Craft spirits, hard seltzers and kombuchas are all gaining popularity and siphoning demand away fr...
Learn about an industry's products and services, markets and trends in international trade.
The popularity of hops makes IPAs the most sought-after craft beer. Craft brewers are using innovative technologies to draw additional flavors out of hops.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Craft beer has a long history in the West, encouraging many microbreweries and brewpubs to settle there. The region’s large population and temperate weather enhance consumers...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition among craft brewers heats up as producers flood the market. A saturated market forces breweries to invest in branding and innovate their products. Price-based com...
Learn about the performance of the top companies in the industry.
Boston Beer dominates craft beer production. The company maintains its title as a craft brewer by producing less than 6.0 million barrels of beer annually but has the broades...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The three-tier system keeps craft breweries small since it doesn’t allow vertical integration between producers and wholesalers or retailers. Craft brewers must negotiate cos...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wage costs are rising as craft breweries expand. Between the influx of new brewers and older operations expanding their footprints, employment is rising steadily, boosting wa...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Craft Beer Production in the US industry in United States is $7.2bn in 2024.
There are 10,130 businesses in the Craft Beer Production in the US industry in United States, which has grown at a CAGR of 4.3 % between 2019 and 2024.
The market size of the Craft Beer Production in the US industry in United States has been declining at a CAGR of 3.8 % between 2019 and 2024.
Over the next five years, the Craft Beer Production in the US industry in United States is expected to grow.
The biggest companies operating in the Craft Beer Production market in United States are The Boston Beer Company, Inc. and DG Yuengling & Son Inc.
Brewing and selling craft styles of ale and lager and Brewing and selling seasonal craft beers are part of the Craft Beer Production in the US industry.
The company holding the most market share in United States is The Boston Beer Company, Inc..
The level of competition is high and increasing in the Craft Beer Production in the US industry in United States.