Demographic dynamics and consumer preferences will continue torndrive the expansion of the craft beer industry over our forecast periodrnto 2019. As part of our wider view for the US food & drink sector, millennialrnconsumers (the generation after the baby boomers) are reshapingrnconsumption patterns. Fuelled by rising health awareness, millennialrnconsumers are favouring natural products and smaller brands (that theyrnperceive as more authentic) over legacy, mainstream brands. In thernbeer industry, the success of craft beer lies in high quality ingredientsrnand innovative flavouring. Craft beer has also become popular amongrnwomen, who have traditionally consumed less beer than men. Accordingrnto the Brewers Association, women aged 21-34 account for aboutrn15% of craft beer consumption in the US, while this group makes uprnonly 10% of the total population. Craft beer is also popular among thernHispanic population, which will expand at a rapid pace compared withrngrowth among non-Hispanics. Illustrating the growing popularity of craftrnbeer, the Google Trends chart below shows that 'craft beer' has becomernincreasingly popular in online searches over the past few years, graduallyrncatching up with 'Budweiser', AB InBev's iconic brand.
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