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%.
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.
24/7 Wall St.Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
