economy
Buzz kill: US breweries shutter as fanfare over craft beers appears to fade
Covid-related downturns and reductions in alcohol consumption have taken a toll on a once booming industry
TL;DR
- The craft beer industry is facing a national trend of brewery closures after a period of rapid expansion.
- Call to Arms Brewing Company in Denver and Earthbound Beer in St. Louis are examples of successful breweries that have recently closed.
- Factors contributing to closures include the COVID-19 pandemic, decreased alcohol consumption, increased costs (labor, taxes, insurance), and economic downturns, particularly affecting younger consumers.
- The number of microbreweries in the US has decreased significantly since its peak, with production also declining.
- Industry leaders suggest that while the intense fanfare around craft beer may have faded, the industry itself is likely to adapt and continue, potentially by appealing to a broader demographic and focusing on unique offerings.