Craft Brewery Numbers Are Up 990 Percent In Just Over A Decade. Is That Growth Sustainable?
The number of craft breweries in Texas is up 990 percent in the last 12 years, according to CBRE, a real estate services company. Its recent report found a big increase in the demand for commercial real estate for these breweries. Also aiding the trend are changes in Texas law that make it easier for brewers to sell their beer, whether on-site at the brewery, or via other channels.
There are upwards of 220 permitted breweries in Texas. Many brewers came to the state from other areas where craft brewing was already a big deal, including California and Colorado. And in 2013, the Texas legislature passed a law allowing manufacturing brewers to sell their beer onsite, giving them the ability to create tour and tasting experiences. At the same time, brewpubs gained the ability to sell their beer outside their own facilities.
Josh Hare, founder and president of Hops & Grain Brewing in Austin, and chair of the Texas Craft Brewers Guild board of directors says his brewery has tripled its business in the six years it has been selling beer. He says that though the craft brewing business overall remains strong, the growth rate of the industry will probably slow down, and fewer large-scale brewing operations will begin operation.
Written by Shelly Brisbin.