- The research firm Mintel has released a new report stating that U.S. craft beer sales more than doubled from $5.7 billion in 2007 to reach $12 billion in 2012 and projecting that sales will reach $18 billion by 2017.
- Jennifer Zegler, a beverage analyst at Mintel, called craft beer "a small segment of the $78 billion U.S. beer industry," but noted that "the category has been able to stabilize the overall beer industry."
- Zegler said craft beer companies will need to expand beyond the Millenials market to advocate and grow among other groups in the coming years.
From the article:
"... The rise of craft beer in the US has been supported by increasing consumer demand. Nearly a quarter (24%) of consumers who drink beer indicate that in 2012 they drank more craft beer sold at stores compared to 2011. Meanwhile, more than one in five (22%) report consuming more craft beer in bars or restaurants.
When looking at age, Mintel research shows that craft beer's sweet spot is with 25-34 year old consumers. While overall, some 36% of US consumers drink craft beer, half (50%) of older Millennials (25-34 year olds) do so. And craft beer also wins on taste. Some 43% of both Millennials and Generation X say that craft beer tastes better than domestic beer, compared to 32% of Baby Boomers. ..."