Brewing trouble: Craft beer industry faces first downturn in over a decade

Episode Transcript

Speaker 1 (00:00):
Production fell one percent, sales dropped two percent, and there's
a few factors.

Speaker 2 (00:04):
One of them is that about fifteen twenty years ago,
it was a new industry and there's rapid expansion to
the point that the market became oversaturated.

Speaker 1 (00:13):
Economist Tank Lewis says new competition like salters have taken over.
Plus inflation plays a role and it's leading to many
mergers among breweries, including selling competitors' products.

Speaker 2 (00:23):
They are doing this as a cost saving measure, a
self preserving measure as well.

Speaker 1 (00:28):
He says we'll see more alliances in the industry as
the oversaturation filters out. Andre Berrard News Radio seven forty
KTRH