Beer is shared worldwide as a way for people to come together, whether it’s after a long day at work, cheering for a favorite sports team, or just hanging out with friends. With good times, people want to share good beers, and the U.S. craft beer industry has made a name for itself worldwide in terms of the quality of its beer.
The Brewers Association (BA), a not-for-profit trade group representing small independent craft brewers, released a study showing how American craft beer is rising to prominence on the international scene.
The BA reported export growth data for the American craft beer industry in 2017. Supported by the BA’s Export Development Program (EDP), craft beer export volume increased by 3.6% in 2017, now totaling 482,309 barrels and valued at $125.4 million.
Growth was seen in major markets, including in the Asia-Pacific region (not including Japan), which grew 7.4%; Japan, which was up 2.6%; and Western Europe, which saw exports increase by 1.3%.
[nativounit]
Meanwhile, Canada was again the leading international market for American craft beer, accounting for 51.3% of total exports. Other leading importers were:
- The United Kingdom, accounting for 10.5% of exports
- Sweden, 6.7%
- Korea, 4.6%
- Australia, 3.8%
- China, 2.5%
Steve Parr, Brewers Association export development program manager, commented:
From innovative styles to international distribution, American craft beer is breaking boundaries. Through the Brewers Association Export Development Program, we’re able to take the success of local brewers and showcase them on a global scale.
[recirclink id=453828]
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks