It’s that time of year! As the craft beer industry looks ahead to a new year filled with new beer, new breweries, and new growth, Beall Brewery Insurance takes a look back at the year in craft beer.
Beer by the Numbers
By the midway point of 2018, the TTB had more than 9,000 active permits filed. By the end of the year, more than 7,000 breweries were in operation in the United States—an increase of 20% over 2017. Nearly 90% of US adults now live within 10 miles of a brewery! (And craft brewery jobs are up, too: the industry now supports 500,000 jobs, up 9% from 2017.)
Nevertheless, momentum in the craft beer sector has slowed from double-digit growth to 5%.
Focus on the Taproom
More than ever, local taprooms and microbreweries are drawing in the customers. An end to post-Prohibition constraints has allowed breweries in many states to sell direct to consumers—and generate greater profits.
In the wake of news stories wondering whether legalized marijuana would compete with craft beer, 2018 brought with it a wave of beers brewed with cannabis.
An IPA of a Different Stripe
This was the year of the New England-style IPA (or the hazy IPA, or the juicy IPA—the choice is yours). The Brewers Association officially added this style to its style guidelines, making it eligible for 2018 GABF competition—which resulted in more than 700 entries to this category.
What do you think were the biggest craft beer stories of 2018?
For more than 25 years, Beall Financial and Insurance Services, Inc., has been helping corporations and individuals protect their most important assets. The agency’s client base covers a spectrum of niche businesses, such as craft breweries, that require specialized insurance packages and knowledge. With California offices in Redlands and Newport Beach, Beall Financial and Insurance Services serves clients nationwide.