The craft space has become highly competitive following several years of torrid growth that has seen the number of brewers in the space increase to 8,275 in 2019, a nearly 417% jump from 1,600 operations in existence during 2009.

Is craft beer still popular?

In spite of the growing craft beer sales, light beer is still the most popular beer in America by a huge margin, showing that craft beer has yet to gain mainstream popularity. That being said, the share of people drinking craft beer has grown steadily year over year and seems poised to continue to do so.

Is the craft beer market growing?

Technavio has been monitoring the craft beer market and it is poised to grow by USD 47.79 billion during 2020-2024, progressing at a CAGR of almost 13% during the forecast period.