Small brewers craft a growing market
Via the Globe and Mail:
Beer sales over all have been flat in Canada since 1995 – and have dropped 5 per cent in the United States – but craft beer sales have seen revenue growth at or near double digits in the past three years, according to a report released Wednesday by BMO Nesbitt Burns. Consumers don’t just want a Bud while they’re watching the game – they want to pair their brew with their food.
The beer market is undergoing a “structural shift” as craft beers approach 6 per cent of market share and 10 per cent of industry revenues, says economist Alex Koustas, who wrote the BMO report.
Big brewers are responding by buying up craft beer makers or introducing craft-like versions of their own brands, and these often become the companies’ best-performing units. “People’s tastes are evolving,” Mr. Koustas said. Beer drinkers “are becoming more educated in their choices.”
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