Distributor sentiments for beer category strength shifted from cautious to “neutral” in November, according to the National Beer Wholesalers Association (NBWA) in the trade group’s latest Beer Purchasers’ Index (BPI) report.
Total beer posted a BPI reading of 50. Readings above 50 indicate beer ordering expansion, while readings below 50 indicate contraction.
The November reading was eight points higher than total beer’s October BPI of 42, and one point lower than the November 2023 reading of 51.
“The combination of index readings for the at-risk inventory at 49 and Beer Purchasers’ Index at 50 is a rare ‘bullseye’ outcome that leaves the industry neither bullish nor bearish for the end of the year,” NBWA chief economist and VP of analytics Lester Jones wrote.
Imports was the only segment with a reading above 50 (64), eight points higher than its October 2024 reading (56), and five points lower than its November 2023 reading (69).
Below premium had a neutral reading of 50. November marked the sixth month of expansion for the segment in 2024, “the most that segment has recorded in one calendar year.” The segment’s November reading was 11 points higher than its November 2023 reading (39) and four points lower than October 2024 (54).
Meanwhile, craft recorded its second-lowest BPI reading (18) since the launch of the BPI. The segment’s lowest reading was 14 in April 2020. The November reading was eight points lower than its November 2023 reading (26), and seven points lower than October 2024 (25).
Three segments were in contraction or neutral, but recorded improved readings versus November 2023, including:
- Below premium (50);
- Flavored malt beverages/hard seltzer (34), nine points higher than November 2023 (25), and four points lower than October 2024 (38);
- Hard cider (36), six points higher than November 2023 (30) and seven points higher than October 2024 (29).
Other beer segments in contraction in November include:
- Premium lights (46), seven points lower than November 2023 (53), and five points higher than October 2024 (41);
- Premium regular (41), seven points lower than November 2023 (48), and unchanged from October 2024.