Indy hosts craft beer convention amid difficulty in industry
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The Craft Brewers Conference arrives at the Indiana Convention Center at a critical moment for the nation's brewing business.
Why it matters: The once-thriving industry struggled in 2024, posting its third consecutive year with negative growth, a trend driven by market saturation and shifts in alcohol consumption, particularly among younger drinkers.
The big picture: Now breweries are dealing with rising ingredient costs and uncertainty surrounding tariffs on equipment.
What they're saying: "These costs can add a lot of challenges for these breweries, and as a result, they may be delaying expansion plans, figuring out ways to absorb losses (and) whether or not they need to raise prices," Ann Obenchain, vice president of sales and marketing at the Brewers Association, told Axios.
Driving the news: More than 10,000 people are expected in Indianapolis this week for the 2025 Craft Brewers Conference and BrewExpo America, a four-day trade show and planning session that kicked off Monday.
- The event is also home of the World Beer Cup, the world's largest beer competition which closes the show Thursday.
State of play: Hosted by the Brewers Association, the gathering follows this month's release of annual figures showing U.S. craft beer production declined 4% in 2024 compared to the previous year, the largest drop in industry history outside the pandemic.
Zoom in: Last year was also the first time since 2005 that the number of closings outpaced openings nationwide β 430 breweries opened while 529 closed.
- Officials said openings dropping for the fourth consecutive year is the result of a maturing and highly competitive industry.
- Scarlet Lane Brewing and 2Toms Brewing Company both closed their Indy area locations last year.
Yes, but: The total number of breweries in the U.S. increased to 9,922, up from 9,838 in 2023.
- And employment in the craft brewing sector is up 3% year-over-year.
- Obenchain said the growth is driven by a shift toward hospitality-focused models like taprooms and brewpubs, which create more jobs.
By the numbers: From 2011-2022, the number of Indiana craft breweries tracked by the association increased each year.
- But breweries in the state dropped nearly 5% to 194 in 2024, 17th in the U.S.
- Indiana ranks 22nd in barrels of craft beer produced annually at more than 233,000.
- Hoosier breweries employ 10,000 people and have an economic impact of nearly $1.5 billion.
π 1 cool thing: Indiana is represented on the Brewers Association's 2024 list for the top 50 companies in terms of production with Munster-based 3 Floyds Brewing at No. 26.
Fun fact: The conference comes with a commemorative beer called Brewers of the Corn, which is a nod to the Stephen King novel and a celebration of Indiana's agricultural knowhow.
If you go: Brewers of the Corn can be picked up at Sun King, Upland Brewing, St. Joseph, Metazoa Brewing and The Tap Mass Ave through Thursday.
- Click here for pickup times.