Sales of craft and craft-style beer will likely eclipse $20 billion in 2014, according to a new report from market research firm Mintel.
Of the $20.4 billion in craft sales that Mintel has predicted for this year, the firm believes more than 84 percent ($17.2 billion) will come from Brewers Association-defined craft brewers.
Mintel had originally forecasted that craft beer sales could exceed $18 billion by 2017, but now believes that figure could actually double in the next five years. Citing consistent year-over-year growth trends, an improving economy, product innovation and an engaged consumer base, the firm said that combined sales of craft and craft-style beer could surpass $36 billion in 2019.
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