Iowa's craft brews crack $1 billion in economic impact

Iowa now has more than 100 craft breweries.

• That's up from 27 since 2011, according to 2021 data compiled by the Colorado-based Brewers Association

Why it matters: The economic impact of the small, independent breweries in Iowa hit more than $1 billion last year, according to the association's estimates.

The state of beer: Toppling Goliath dominated Iowa's craft beer scene.

• Yes, but: Big Grove sported the biggest percentage of growth compared to the prior year.

The big picture: The national craft beer industry grew by 8% in 2021, while the overall market inched up 1%.

• Craft brews now make up more than a quarter of the overall $100 billion beer market.

Zoom in: Iowans on average just under two gallons of craft brew a year, according to the association.

• That ranks 32nd in the nation.

Of note: The analysis only includes small, independent breweries that allowed their data to be published.

What's next: This year's projected growth is between 4-5%, according to Bart Watson the association's chief economist, writes Axios Denver's John Frank.

• Inflation is hurting the industry as is the ongoing carbon dioxide crisis.