Craft beer is still looking bullish despite the economy. The Brewers Association released its annual report on craft beer production numbers and craft brewery production grew by 7.2% by volume last year, up from 5.8% in 2008 during the heart of the recession. On the other hand, the overall beer market declined by 2.2% last year, which includes the likes of AB-Inbev and MillerCoors along with imports. Craft beer still only accounts for 4.3% of the total U.S. beer market share while AB-Inbev and MillerCoors plus imports account for over 95%. (the BA's definition of a craft brewery can be found here)
The Brewers Association attributes the continued growth of craft beer despite the recession to affordable luxury. Even the best craft beers that come in 750ml bottles cost nearly half that of a decent wine and with the ability to mix and match bottles in a six-pack from most liquor stores, you can get a chance to sample to your hearts' desire without breaking the bank. The trend of buying locally is also catching on and breweries tend to reap the benefits of this trend more so than other markets. With Colorado ranking 5th in the nation of breweries per capita (103 total breweries), we definitely don't have a shortage of local craft beer selection.
A local example of success include Denver's Great Divide Brewing Company, where they increased in production volume by a staggering 34% for two straight years. Great Divide's founder Brian Dunn cites the respect that distributors now have for craft beer's growing market share and the trend of buying locally-made products. Great Divide also exports their beer to Europe where American craft beers are gaining a significant foothold amongst the more traditional English, Belgian and German beer selection.
Cheers to craft beer for another year of growth!
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