Lana Farrell, principal, market and shopper intelligence at Information Resources Inc. discussed the craft market landscape and current trends that have driven growth in the industry during a webinar presented by Beverage Industry. IRI data reflects that the total craft market makes up about 11 percent of the total beverage alcohol market. Craft spirits account for about one-third of the total craft category while craft beer accounts for about two-thirds. Recent trends show that craft spirits growth is surpassing craft beer and total beverage alcohol in 2019. According to IRI data, craft spirits growth is at it’s peak growth rate, increasing by 12 percent to $2 billion in the 52 weeks through May 19. An overview of consumer spending showed that craft spirits consumers spend the most in the west region at an average of $213 annually, making up about $556 million for the annual period. In the north central region, consumers spent about $156 per year which made up $486 million.
Source: Wine and Spirits Daily July 2019