Non-alcoholic beer has quickly grown as bigger beer giants like AB InBev and Heineken launch new products as well as the rise of brewers like Athletic Brewing.
launch new products as well as the emergence of independent brewers like Athletic Brewing. AB Inbev, which owns brands like Budweiser, Corona, Michelob, and Modelo, had previously set a goal of making 20% of its beer volume non-alcoholic and low alcohol by 2025.
"[Non-alcoholic beer] has gone from something that was 0.3% of the beer category and a total afterthought and penalty box beverage to something that is really exciting, aspirational, and kind of reframing how modern adults think," Shufelt said. Cans of beer are packed at Athletic Brewing’s non-alcoholic brewery and production plant on March 20, 2019 in Stratford, Connecticut.With more consumers choosing non-alcoholic beers in a move towards healthier drinking alternatives and safer drinking habits, the global non-alcoholic beer market has grown to $22 billion in 2022, according to GMI Insights, which projects that could reach $40 billion by 2032. According to Nielsen, non-alcoholic beer grew 20% in the U.S.
But the growth of the overarching category has helped Athletic Brewing, which Shufelt said has a 55% market share of craft non-alcoholic beer. Athletic Brewing had $37 million in revenue in 2021, a three-year revenue growth of 13,071%, according to Inc. Magazine.made a $50 million investment into Athletic Brewing, receiving a minority equity stake akin to the brewer's other lead investors such as TRB Advisors and Alliance Consumer Growth.
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