Beverage Industry

The rise of craft distilleries and beer microbreweries has increased demand for beverage alcohol worldwide. At the end of 2016, in the U.S. alone, there was 3,132 beer microbreweries and 186 craft distilleries with a projected growth to continue of over 16.6 % and sales to exceed $2.4 billion achieved in 2015. While there is significant growth in the U.S. craft brewing and distilling industry, much of the new product innovation has focused extensively on the development of new local or regional beers and distilled products with distinctive flavors and the branding of these products in an increasingly competitive market. Worldwide consolidation in the beer brewing and distilled spirits industries has resulted in several dominant global players. As a whole these players have focused primarily on marketing, branding, cost reduction and improving of logistics for sourcing of raw materials and the worldwide distribution of these products. Some of these companies have also started to address long term supply of feedstocks and issues related to environmental stewardship and sustainability in an effort to address consumer perception and new governmental legislation.