• From Fortune magazine
The U.S. spirits industry is finally seeing a “craft” movement take hold across bars and retail outlets in a way that could mirror the success craft brewers have had in recent years.
In a broad study backed by the American Craft Spirits Association that is being billed as a first-of-its-kind deep dive into the craft spirits movement, the industry reportedly achieved $2.4 billion in retail sales in 2015, growing at a compound annual growth rate of 27.4% in volume. The market share for craft spirits reached 2.2% in volume last year, up sharply from 0.8% in 2010.
This growth -- bolstered by the 1,315 craft distillers that are active in the U.S. today -- is expected to get continued support from retailers and wholesalers, likely because they’ve seen the success craft brewers have achieved in the beer world. Within beer, craft producers now control about 12% of volume and are posting growth that far exceeds the total category. There are also well over 4,200 craft breweries today, far more than the amount of distilling peers.
Interestingly, much of the craft spirits industry’s growth is concentrated in just a handful of states. The top five states by number of craft distilleries -- California, New York, Washington, Colorado and Texas -- make up almost 36% of the industry’s players.
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