Large beer brewer such as Anheuser-Busch InBev (NYSE: BUD) and Molson
Coors (NYSE: TAP) may have something to worry about concerning
Americans' evolving tastes.
According to the Brewers Association, a
trade association representing small and independent American brewers,
in 2012, craft brewers' percentage of the U.S. beer market rose to 6.5%,
up from 5.7% in 2011. This 15% year-over-year growth stands in stark
contrast to the major brewers, which are experiencing flat growth and
losing market share.
As craft brewers blossom, the big beer
brewers appear to be faltering. In the last two quarters of reported
earnings, for example, BUD had two straight negative earnings surprises,
falling short of analysts' estimates by 7.9% and 5.1%.
The largest -- and arguably most successful -- U.S. craft brewer is Boston Beer (NYSE: SAM).
While the maker of the popular Samuel Adams brand currently claims only
1% of the total U.S. beer market, it has about 20% market share in the
craft beer arena. (more)
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