For the fourth year in a row, the beer industry has continued its declines and lost 1.9 percent to total 2.8 billion cases.
According to the Beverage Information Group's recently released 2011 Beer Handbook, continued declines in the light beer segment continue to contribute to the overall losses in the industry.
Despite the struggling economy, growth was seen among the craft segment as well as imports. The higher-priced craft segment continued to post solid gains due to consumers' attraction to the interesting flavors craft brewers offer. Imports, which previously have been experiencing declines, gained 0.9 percent to 362.8 million cases last year, but that is11.1 percent lower than its pre-recessionary levels.
"The super premium, craft/specialty, and flavored malt beverage category has benefited from the craft sector's growth," says Eric Schmidt, manager of information dervices for the Beverage Information Group in Norwalk, Conn. "Consumers are gravitating toward premium products with exciting and new flavors - something the craft segment has done well in providing."
According to the handbook, the future of the beer industry does not look promising. Rising fuel costs and high unemployment rates among its core consumers are two factors in its downfall; however, the growth in super premium, craft/specialty and flavored malt beverage segment is predicted to show positive growth in the next five years while premium, light, popular, ice and the malt liquor segments are expected to decline in the short term.
For more information about the 2011 Beer Handbook visit www.bevinfostore.com.
