Connect with us

Markets

Craft Beer Boom: The Numbers Behind the Industry’s Explosive Growth

Published

on

All movements start with rebellion, and the craft beer revolution is no different.

Born from the frustration of mass-produced beer made from cheap ingredients, entrepreneurs went head-to-head with global brewery giants to showcase local and independent craftsmanship.

Suddenly, drinking beer became less about the alcoholic content and more about the quality and experience. Craft beer allowed for constantly changing flavors, recipes, and stories. With sales accounting for 24% of U.S. beer market worth over $114 billion, the global craft beer movement has been historic.

Which States Bring Home the Beer?

Today’s map from C+R research demonstrates the growth of the craft beer market, by ranking the U.S. states based on craft breweries per capita.
The Rise of Craft Beer in the U.S.

The data for this visualization comes from The Brewers Association—an American trade group of over 7,200 craft brewers, suppliers, and distributors, as well as the Alcohol and Tobacco Tax and Trade Bureau.

According to the data, Vermont has emerged as the craft beer capital of the U.S. with 11.5 breweries per 100,000 people. That’s equal to 151 pints of beer produced per drinking-age adult. Following closely behind are Montana and Maine, each with 9.6 breweries per capita.

You’ll notice that in Southern states such as Alabama, Georgia, and Mississippi, that there are only 0-0.9 breweries per capita. This is actually because of tighter liquor laws—for example, only 10 years ago, it was illegal to sell specialty beer in South Carolina that contained more alcohol content than a typical Budweiser.

Becoming a Brewery Nation

In 2008, there were only 1,574 breweries across the United States.

However, as you can see in the below data from the Brewers Association, the total amount of craft breweries, microbreweries, and brewpubs has climbed to 7,346 in just a decade.

20142015201620172018Change ('17-'18)
Regional Craft13517818620223013.9%
Microbreweries2,0762,6263,2513,9334,52215%
Brewpubs1,6031,8242,1022,3552,59410.1%
Total Craft3,8144,6285,5396,4907,34613.2%
Large/Non-craft4644671061041.9%
Total U.S.3,8694,6725,6066,5967,45012.9%

Of the three categories of craft beer, microbreweries have contributed the most to recent production growth. Last year, they accounted for 80% of this growth, up from 60% in 2017.

The term microbrewery refers to the maximum amount of beer the brewery can produce. For microbreweries, that number is 15,000 barrels (460,000 U.S. gallons) of beer per year. They also have to sell 25% or more of their beer on site, which is why we are witnessing a surge in breweries that double up as a restaurant or bar.

Comparing this data to figures on larger breweries available from the Breweries Association, it is clear that it is the larger, more established breweries that are feeling the heat. While their growth slows, more small breweries open, and sales are further cannibalized.

The Economic Impact of the Craft Beer Market

When it comes to pure dollars, C+R Research notes that Colorado comes in at #1 with an economic impact of $764 per person. Vermont is at the #2 spot with an economic impact of $667 per person, despite having a higher concentration of breweries per capita.

How do the rest of the states compare?
Economic Impact
The global craft beer market is expected to reach $502.9 billion by 2025—while the craft brewing industry contributed $76.2 billion to the U.S. economy in 2017, including more than 500,000 jobs.

Will Craft Remain a Growth Category?

While many argue that craft beer is approaching its peak, the data is promising. Experimentation with new processes and ingredients will continue to drive the market forward.

Craft brewers all over the world are tapping into the novelty factor by exploring weird and wonderful innovations, like deer antler-infused beer and take-home brewing kits.

While the overall beer market lagged in sales by 0.8% last year, the craft brew category grew by 3.9% using the same measure. Further, craft still only makes up 13.2% in total beer volume in the U.S., meaning there is still plenty of market share to gain.

Subscribe to Visual Capitalist
Click for Comments

Markets

Graphene: An Investor’s Guide to the Emerging Market

The market value of graphene could reach $3.75 billion by 2030. As the emerging industry shows fast growth, it also faces obstacles.

Published

on

The following content is sponsored by HydroGraph

Graphene: An Investor’s Guide to the Emerging Market

Graphene is an atomic-scale “honeycomb” that is revolutionizing the world of materials and capturing investor attention.

Experts predict that its market value could reach the billion-dollar threshold by 2027 and soar to a staggering $3.75 billion by 2030.

In this infographic sponsored by HydroGraph, we dive into everything investors need to know about this exciting industry and where it’s headed.

Promising Properties

Graphene possesses several unique physical properties which contribute to its wide range of potential applications.

  • 200 times stronger than steel
  • Harder than diamonds
  • 1,000 times lighter than paper
  • 98% transparent
  • Higher electrical conductivity than copper
  • Heat conductivity: 5 times that of copper
  • 2,630 m² of surface area per gram

Since its first successful isolation in 2004, graphene’s properties have opened the doors to a multitude of commercial applications and products.

Applications of Graphene

Graphene has permeated numerous sectors like electronics, energy, and healthcare because of its impressive array of end uses.

IndustryRevenue CAGR of Graphene Across Industries, 2022-2027
Biomedical and Healthcare52%
Electronics and Telecommunications34%
Energy25%
Aerospace and Defense16%
Other End-User Industries17%

Graphene’s antibacterial properties make it highly suitable for medical instruments and implants. Furthermore, it has shown remarkable potential in helping treat diseases such as cancer.

Another one of the material’s applications is its ability to emit high-speed light pulses, or to combine graphene’s thinness and high-conductivity to create the tiniest possible light sources.

All in all, it’s difficult to sum up graphene’s properties and potential applications in one place. The supermaterial has been covered and cited in thousands of academic journals, and comes up with over 2 million search results on Google Scholar.

Graphene Commercialization

Graphene has evolved from a scientific breakthrough to a commercial reality in less than two decades, putting it firmly on the radar of many future-focused investors.

But despite the strides the industry is making, it is still in its infancy, and therefore challenges exist on the path to widespread adoption. Here are the top five commercialization obstacles perceived by industry players.

Obstacle% of survey respondents
Cost31%
Production Methods, Scaling, and Distribution21%
Material Quality/Consistency17%
Lack of Knowledge/Awareness15%
Dispersion/Handling14%

When transitioning cutting-edge materials from the laboratory to consumer products, challenges like these can be expected. But one company is tackling them head-on.

By producing 99.8% pure graphene, and ensuring batch-to-batch consistency, HydroGraph is helping meet the growing demand for graphene products across industries while addressing challenges like cost, scale, and quality.

Visual Capitalist Logo

Interested in learning more? Explore investment opportunities with HydroGraph now.

Subscribe to Visual Capitalist
Click for Comments

You may also like

Subscribe

Continue Reading

Subscribe

Popular