New Craft Beer
New craft beer is the product of innovation in brewing, and not necessarily in its packaging or marketing. Often, the innovation comes in something as simple as how to use an ingredient or adjunct (e.g., hops) in the beer making process or how to use it to enhance a flavor profile.
The craft brewing industry is a rapidly evolving sector that, according to estimates from the Beer Association, grew by an average of 15% a year from 2010 to 2021. It is gaining market share from larger breweries and has more competition than ever before.
In many ways, the craft brewing movement began with the emergence of CAMRA (Campaign for Real Ale) in the 1970s, which encouraged people to drink more beer. This was followed by the rise of microbreweries, which brewed small quantities of beer on a small scale.
But while the growth of the craft brewing sector accelerated, it also faced major challenges such as capital constraints and lack of suitable equipment. As a result, it often adapted existing equipment and capital to the brewing process or used contract brewing to overcome these issues.
While the craft beer movement grew in popularity in the United States, it is still in its early stages and represents only a fraction of the total commercial beer market. Therefore, breweries need to find ways to attract new consumers. Moreover, to sustain this growth, they need to balance innovation with consumers’ expectations.