Recent Economic Developments in the Import and Craft Segments of the US Brewing Industry
Recent Economic Developments in the Import and Craft Segments of the US Brewing Industry
This chapter explores recent economic trends in the import and craft sectors of the U.S. beer market. In 1970, beer sales of imports and crafts (microbrewers, brewpubs, and regional craft brewers) made up only 1% of U.S. beer sales, compared to 17% today. The reasons for this impressive gain are investigated. The data documented in this study include trends in market share; profit-to-sales ratios for the largest craft brewers; imports, exports, and import share by leading brands; advertising for leading brands; and demographic characteristics of beer consumers. Income and the demand for variety, novelty, and prestige appear to be important drivers of the increasing popularity of import and craft beers in the U.S.
Keywords: brewing industry, beer imports, craft beer, microbrewery, profit-to-sales ratios
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