By: Michael Devine and Audrey Bell, Brand Leadership
With summer upon us, we often find ourselves longing for an ice-cold beer amidst the increasingly hot afternoon sun. And while national beer brands are always great options, the craft beer industry has also been steadily rising in popularity among beer drinkers. Craft beer is attractive to consumers because people value the idea of locally made beer that isn’t available everywhere. It’s hard to deny this attraction when these breweries are everywhere we turn.
As of 2014, there were 3,418 craft breweries in the United States, with the number of barrels of beer sold up by 17.6% from the year before. The offering of locally made and exotically flavored beer is beginning to make its rounds throughout the United States. As craft beer continues to gain popularity, the opportunity to market to specific demographics will rise. Not only does growth present an opportunity among the general market, but the Hispanic market as well.
Hispanic Craft Beer Consumption
According to brewbound.com, beer drinkers between the ages of 21 and 34 comprise 35.5% of craft beer consumption. Further, these millennials are also 38% more likely to indulge in craft beer when compared to other legal adults. When we look specifically at the Hispanic market, we can see that over two-fifths (43%) of Hispanic consumers order craft beer in a restaurant or bar at least once every month.
This news may not be as new as one would think. Back in 2011, the first Latino craft brewery, 5 Rabbit Cerveceria, opened its doors in Chicago, Illinois. Its aim was to attract the future following of Hispanic customers that other craft breweries had not yet focused on. Despite the fact that nowadays, the United States serves as the home to the most craft breweries in the world, they still fall short in the amount of beer consumed per person when compared with the top 10 countries. This means that with a large opportunity for growth, and the possible attraction of a heftier Hispanic following, the U.S. may be able to advance to the number one spot.
The age-old cliché of a ‘Corona and lime’ is a battle that many breweries must tackle when getting through to the Hispanics market. Whether it be through extensions of existing product lines or completely new product ideas, it’s no question that providing Latinos with beer they can actually identify with is essential in reaching all of the market’s bases. The fan-base is present, and many companies now have the opportunity to take the craft-drinking bull by the horns to turn a pretty profit.