Webinar: UF Market Research: Florida's Craft Beer Market with Nathan Palardy - University of Florida

FBG Members, join us on this informative webinar by Nathan Palardy from the University of Florida.

Florida’s craft beer industry recently underwent explosive growth, expanding from just 66 to 396 breweries over the past decade, a sixfold increase, with an estimated economic impact of over $4 billion dollars in 2022. Hundreds of recent entrants means that Florida’s craft beer sector is composed primarily of small businesses that may lack the resources and expertise to conduct in-house market research like large domestic breweries (Budweiser, Coors, etc.) Trade groups for craft breweries like the Brewers Association publish market research at the national level but, due to their national audience, often do not emphasize localized consumer nuances within individual states. This presentation will provide data-driven insight on the purchasing and consumption habits of Florida beer consumers. Specifically, we dive into beer consumption and purchase frequency, monthly beer expenditure, and where consumers most often drink and purchase beer. Additionally, we quantify the economic premium that consumers are willing to pay for beer brewed with Florida grown ingredients and from breweries that are B Corp certified as being environmentally and socially responsible and explore how these premiums vary across the 5 largest metropolitan areas in Florida. We hope this information will help breweries develop innovative marketing strategies and differentiate their products in a competitive market.