The Brewers Association, which represents small and independent craft breweries in America, recorded that more than 5,300 breweries produced 24.6 million barrels in 2016.
Bart Watson, chief economist at the Brewers Association, said: “Small and independent brewers are operating in a new brewing reality still filled with opportunity, but within a much more competitive landscape.”
Small and independent craft brewers represent 12.3% market share by volume of the overall beer industry and retail dollar value was estimated at $23.5 billion.
Watson added: “As the overall beer market remains static and the large global brewers lose volume, their strategy has been to focus on acquiring craft brewers.
“This has been a catalyst for slower growth for small and independent brewers and endangered consumer access to certain brands.”
By adding 1.4 million barrels, craft brewer growth outpaced the 1.2 million barrels purchased by large brewing companies.