Craft beer has developed into a mature market as its growth continues to decline. Beer, as a whole, is falling in popularity in the United States and craft may not be escaping the trend. Many consumers are turning their attention to spirits and new varieties of flavored alcoholic beverages. Younger consumers are increasingly interested in non-alcoholic beverages. Craft beer, as a higher priced beverage, is also suffering the effects of consumers tightening their belts in the face of economic uncertainty.
A maturing market
After a significant decline in production in 2020,
craft beer volume amounted to about 24.8 million barrels in 2021, not quite pre-pandemic levels but a rebound. Unfortunately, that rebound has not been durable. Since 2021, production has declined by almost seven percent. Even though the industry has reached an
all-time high in brewery facilities, it has also reached an
all-time high in brewery closings. In terms of brands, New Belgium, which was acquired by the Japanese beverage giant, Kirin, in 2019 was the
leading craft beer in the United States in 2024. In that year,
California boasted over 900 craft breweries, the most of any U.S. state.
Stagnating popularity
The popularity of
beer has been on a downward trend for some time now with consumers gravitating towards spirits and spirits-based beverages. On top of this, craft is no longer gobbling up
market share from the non-craft beer market. Beer has also not been able to enjoy the boom in e-commerce sales that wine has since the COVID-19 pandemic. The major cause for this discrepancy is beer's comparative lack of availability in direct-to-consumer sales due to a different regulatory status than wine. Young consumers, in particular, would be very interested in
purchasing craft beer through the direct-to-consumer channel. It remains to be seen if the industry can find ways to entice the next generation of consumers to take part in craft beer.
Gen Z is less interested in alcohol generally than any other generation in the United States.
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