The Impact Of Craft Beer In The Australian Economy
Australian craft beer has grown in popularity in recent years as consumers have become more aware of quality and variety. Although the craft beer industry in Australia is relatively small, it is steadily evolving into a recognized industry and contributing to the economic health of the nation. More consumers are drinking multi-brand brands and consuming sugary and alcoholic drinks, resulting in an increase in total disposable income from alcohol and greater disposable income through taxes. Craft breweries are contributing significantly to this increase as they produce small and medium-sized batches using expertly-crafted ingredients and employing state-of-the-art brewing methods.
Many of the world’s top brewers have distanced themselves from major brewers in an effort to focus on the microbrewery and consumer demand for specialty beers. There is now a marked distinction between the microbrewery and artisan brews, which has been a contributing factor to the Australian craft beer industry’s growth. The success of local microbreweries such as Ballantyne’s Brewing Company and Small Town Brewhouse on the North Sydney waterfront has also created a strong independent craft-brewed segment on the drinker market, attracting both local drinkers and travelers.
A recent study by the Alcohol Research Council of Australia has forecast a marked increase in both consumption and revenue for the Australian craft beer industry over the next three years, primarily due to an increase in the number of breweries. The current forecast is for a five to six percent increase in production over the next three years, with a further increase of about seven percent per year due to a high number of breweries being established in recent years. It is anticipated that over the next few years, production will continue to increase at about one percent annually, with the majority of breweries having about two percent on hand. The increase is anticipated to continue to grow at about one percent per year over the next three years, with the number of breweries increasing from around thirty in 2020 to around fifty