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United Kingdom: Number of UK breweries surges to 1,700 as demand for craft beer rockets By Alan Jones October 3, 2016 Drinkers are prepared to pay premium prices for artisan booze, making brewing a profitable business according to a new report Jon Swain of the Hackney Brewery in east London rolling a barrel of beer The growing popularity of craft beer has fuelled an 8% surge in the number of UK breweries in the past year to about 1,700. Breweries are becoming increasingly profitable and targets for acquisition, according to a new report. Drinkers are prepared to pay premium prices for a luxury product such as craft beer, which has driven increased sales of food, it said. A growing trend in the industry was an increase in microbreweries, according to James Simmonds of UHY Hacker Young, who carried out the research. He said: “Craft beer is leading the way in the surging popularity of artisan products and has pushed aside other brands in high street bars. “Many are now firmly established household names.” “This increasing popularity has transformed many microbreweries into highly profitable businesses for entrepreneurs looking for a niche position in the food and drinks market.” “As a result of their success, microbreweries across the UK have also become attractive acquisition targets for larger breweries.” |