Just over half of the Brewers Association’s (BA) top 50 craft breweries recorded production volume declines in 2023, according to data from the May/June issue of the trade group’s New Brewer Magazine.
Twenty-six breweries from the top 50 recorded volume declines in 2023, a slight decrease from the 29 that reported production declines in 2022. Twenty breweries recorded volume growth, while four were flat year-over-year (YoY).
Total volume for the top 50 increased +3% YoY, to more than 11.947 million barrels. The collective volume accounted for 51.5% share of total craft volume in 2023, increasing +1.79 points, from 49.3% in 2022. Last year marked the first time the top 50 share fell below 50% since at least 2018.
Total craft volume declined -1% to nearly 23.4 million barrels, the first craft decline in recent memory, with the exception of 2020, the first year of the COVID-19 pandemic. BA chief economist and VP of strategy Bart Watson has previously attributed last year’s decline to “slowing demand growth, competition from across beverage alcohol and a changing retail environment.”
Half of the top 10 craft breweries recorded volume declines:
- No. 2 Boston Beer Company -7%, to 1.424 million barrels;
- No. 3 Sierra Nevada Brewing Co. -1%, to 1.042 million barrels;
- No. 4 Duvel Moortgat USA -6%, to 646,821 barrels;
- No. 5 Gambrinus Company -2%, to 483,929 barrels;
- No. 9 Monster Brewing -11%, to 325,000 barrels.
Recall, Monster-owned CANarchy’s name was changed to Monster Brewing. The company’s craft beer brands include Oskar Blues, Cigar City, Deep Ellum, Wasatch, Squatters and Perrin.
Duvel-owned Firestone Walker accounted for the majority of Duvel’s volume, and would rank No. 4 if on its own, with 476,821 barrels, a -6% decline YoY.
Four of the top 10 craft breweries recorded double-digit growth, including:
- No. 1 D.G. Yuengling and Son +17%, to 2.79 million barrels;
- No. 6 Tilray Brands +29%, to 461,097 barrels;
- No. 8 Brooklyn Brewery +20%, to 331,645 barrels;
- No. 10 Athletic Brewing +51%, to 258,445 barrels.
Tilray’s +29% increase comes after the company acquired eight craft brands (seven beer brands and Hi-Ball Energy) from Anheuser-Busch InBev (A-B). The acquired brands – which include Shock Top, Breckenrdige, Blue Point, Redhook, HiBall, Widmer Brothers, 10 Barrel and Square Mile Cider – drove a +165% YoY net revenue increase for Tilray, the company reported last month. Tilray’s other craft brands include SweetWater, Green Flash, Alpine and Montauk.
No. 7 Artisanal Brewing Ventures (Victory, Sixpoint, Southern Tier) increased volume +1%, to 394,676 barrels.
Seven other breweries within the top 50 recorded double-digit volume growth, led by No. 38 Jack’s Abby (+30%, to 67,500 barrels). Last month, Jack’s Abby announced its planned acquisition of fellow Massachusetts-based brewery Wormtown Brewery. Wormtown produced 19,405 barrels of beer in 2023, a -18% decline YoY. The combined companies’ 2023 volume would be 86,905, moving Jack’s Abby up to No. 31.
The other breweries to record double-digit growth include:
- No. 23 Narragansett Brewing Co. +10%, to 109,635 barrels;
- No. 24 August Schell Brewing +13%, to 107,100 barrels;
- No. 28 Fiddlehead Brewing +23%, to 90,344 barrels;
- No. 34 Creature Comforts Brewing +11%, to 77,926 barrels;
- No. 48 Coronado Brewing Co. +18%, to 48,720 barrels.
Eight additional top 50 craft breweries increased volume YoY, all between +1% and +4%:
- No. 14 Gordon Biersch Brewing Co. +2%, to 126,000 barrels;
- No. 16 Georgetown Brewing Co. +1%, to 119,025 barrels;
- No. 18 Harpoon Brewery +4%, to 115,100 barrels;
- No. 20 Three Floyds Brewing +4%, to 111,850 barrels;
- No. 22 Rhinegeist Brewery +3%, to 109,800 barrels;
- No. 26 Craft ’Ohana (Maui Brewing and Modern Times) +3%, to 104,783 barrels;
- No. 36 BrewDog +2%, to 71,245 barrels;
- No. 41 Saint Arnold Brewing Co. +1%, to 61,999 barrels.
The volume growth is a welcome sight for Craft ‘Ohana, which recorded a -12% decline in production in 2022, to 101,730 barrels. Maui and Modern Times merged in October 2022 to form Craft ’Ohana. The company has been focused on “reconnecting” the Modern Times brand with its home market of San Diego, California, Craft ’Ohana COO Scott Metzger recently told Brewbound. Meanwhile, Maui Brewing has been expanding the reach of its core offerings and investing in its brewing capabilities to support the growth.
The four top 50 craft breweries to record flat volume include No. 15 Allagash (119,878 barrels); No. 32 Kona Brewing’s Hawaii operations (79,907 barrels); No. 40 Montucky Cold Snacks (63,560 barrels); and No. 46 Shipyard Brewing (52,439 barrels).
The steepest production decline was recorded by No. 29 Minhas (-44%, to 90,241), a significant drop after increasing production +18%, to 162,288 barrels, in 2022. The company fell 14 places from its 2022 rank, from No. 15 to No. 29.
No. 37 Summit also lost several spots in the ranks, falling 11 places from 2022, due to a -32% decline in volume to 70,502 barrels.
Other double-digit declines were recorded by:
- No. 12 Deschutes Brewery -11%, to 227,065 barrels;
- No. 13 F.X. Matt Brewing Co. -10%, to 219,653 barrels;
- No. 42 Lost Coast Brewery -14%, to 58,350 barrels;
- No. 44 Rogue Ales & Spirits -17%, to 55,881 barrels;
- No. 49 Drake’s Brewing (Bear Republic) -22%, to 47,975 barrels;
- No. 50 IndieBrew (Scofflaw, Bearded Iris) -13%, to 47,563 barrels.
Despite F.X. Matt’s decline, the brewery moved up one spot from 2022. The brewery’s volume includes that of Flying Dog, ranked No. 34 in 2022, which F.X. Matt acquired in May 2023.
The remaining top 50 breweries all recorded single-digit declines:
- No. 11 New Glarus Brewing -1%, to 228,132 barrels;
- No. 17 Great Lakes Brewing -3%, to 116,236 barrels;
- No. 19 Stevens Point Brewery -5%, to 114,000 barrels;
- No. 25 Odell Brewing Co. -8%, to 105,765 barrels;
- No. 27 Tröegs Brewing Co. -2%, to 104,000 barrels;
- No. 30 Kings & Convicts Brewing -3%, to 88,257 barrels;
- No. 31 Alaskan Brewing Co. -4%, to 84,600 barrels;
- No. 33 Abita Brewing Co. -5%, to 79,380 barrels;
- No. 35 Great Frontier Holdings (Ninkasi, Ecliptic, Wings & Arrow) -9%, to 74,681 barrels;
- No. 39 Revolution Brewing -8%, to 63,970 barrels;
- No. 43 Surly Brewing -7%, to 57,310 barrels;
- No. 45 U.S. Beverage (Uinta, Saint Lawrence) -4%, to 54,123 barrels;
- No. 47 Pizza Port -3%, to 49,260 barrels.
Ecliptic was acquired by Great Frontier Holdings at the end of 2023, so while it is a part of the brand platform, its volume will not be reflected fully in Great Frontier Holdings’ volume until the BA’s 2024 production report.
The most significant share gain for total craft volume was by Yuengling, which increased share +1.81 points, to 11.96%, now 5.86 points above No. 2 Boston Beer, which lost -0.4 points of share.
The majority of share gains and losses within the top 50 were not significant.
The steepest declines in share other than Boston Beer include Minhas (-0.30 points, to 0.39%), Duvel Moortgat (-0.15 points, to 4.46%) and Summit (-0.14 points, to 0.30%).
The next largest share gains after Yuengling were Tilray (+0.45 points, to 1.97%), Athletic (+0.38 points, to 1.11%) and Brooklyn (+0.25 points, to 1.42%).
Read Brewbound’s previous coverage of Top 50 craft movement here and stay tuned for future coverage of regional brewery performances outside the top 50, as well as microbrewery, taproom and brewpub numbers.