Dynamics within the maturing craft beer industry are creating new growth opportunities for suppliers.
Despite the rapid expansion of Michigan farmland dedicated to growing hops and grains for the state’s craft beverage sector, experts say the industry has more room to grow. A new Michigan State University Product Center study examines the potential economic impact for Michigan craft breweries to produce beer exclusively with in-state ingredients.
As the craft beverage industry matures, it’s attracted new entrants who may be more concerned with making a quick profit than with the quality of the liquid.
After a decade of steady growth, one Northern Michigan hop farm and processing company plans to ramp up its operations with an injection of capital from an in-state private equity firm.