Beer buyers’ optimism for beer continued this month, according to the latest Beer Purchasers’ Index (BPI) from the National Beer Wholesalers Association (NBWA).
The BPI for total beer in May was 63, an 11 point increase from May 2023. A reading above 50 indicates ordering expansion, while a reading below 50 indicates contraction.
The latest BPI was “identical to last month’s reading,” which was the highest BPI reading, and first reading above 60, since December 2021, according to NBWA chief economist Lester Jones.
“The combined readings of expansionary BPI and contracting at-risk inventory – which remained below the benchmark (50) at 47, down from 61 in May 2023 – indicate a positive outlook for the warm weather selling season,” Jones wrote.
Craft was one of two segments to record a decline in its May reading year-over-year, with a BPI of 32 this month, down from 39 in 2023. May marked the 27th straight month of contraction for craft.
Imports also recorded a lower reading: 72 this month, versus 75 in May 2023. However, the segment continues to post the highest BPI reading, with the most expansion within the beer category.
Flavored malt beverages (FMBs) and hard seltzer had the largest growth year-over-year (YoY), with a 16-point increase from 26 in May 2023, to 42 in May 2024. The next largest YoY jump was from premium regulars, which increased +10 points, from 43 to 53.
The remaining segments recorded the following BPI readings:
- Premium lights +5 points, to 54;
- Below premiums flat, at 50;
- Hard cider +2 points, to 31.