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The Brewers Association (BA) has just released its annual report on the U.S. craft brewing industry in 2022 including the top 50 craft brewing companies of the past year. The report revealed that small and independent American craft brewers produced 24.3 million barrels of beer in 2022, with an overall beer market share by volume of 13.2%. These figures are on par with 2021’s numbers, indicating steady growth for the industry.
While the overall beer market shrank 3% by volume in 2022, the retail dollar value was estimated at $28.46 billion, representing a 24.6% market share and 6% growth over 2021. The sales growth was attributed to pricing, a shift to smaller brewers, and a continued channel shift back to on-premise, which has a higher average retail value.
“2022 presented small brewers with a number of challenges, including rising operating and material costs and increasing competition, particularly in distribution,” said Bart Watson, chief economist of the Brewers Association, in a press release. “In this maturing and competitive market, collective growth for the category is hard to come by.”
Craft brewers provided 189,413 direct jobs, a 9% increase from 2021, driven by growth in the number of breweries and a continued shift to hospitality-focused business models. The number of operating craft breweries reached an all-time high of 9,552 in 2022, including 2,035 microbreweries, 3,418 brewpubs, 3,838 taproom breweries, and 261 regional craft breweries.
The report also revealed that of the top 50 overall brewing companies in 2022, 40 were small and independent craft brewing companies, demonstrating the industry's continued growth and success.
While there were 549 new brewery openings and 319 closings throughout the year, openings decreased for a second consecutive year, indicating a more mature market. However, the closing rate remained relatively low, at approximately 3%.
“The relatively low closure rate reflects both the solid demand for fuller flavored local beer as well as the versatility and flexibility of small brewers,” added Watson.
Overall, the BA's annual report suggests that the U.S. craft brewing industry remains a vibrant and growing sector of the American economy, with small and independent craft brewing companies continuing to make their mark in the market.