The beer industry continues to feel the lingering effects of the pandemic, with closures of craft breweries outpacing new openings for the first time in history. According to the Boulder-based Brewers Association, more craft beer establishments are shutting down than starting up, signaling the ongoing struggle within the sector.
Virgin Craft Beer Hits the Market
In a fresh venture, billionaire entrepreneur Sir Richard Branson has expanded the Virgin brand into the world of craft beer. Known for his Virgin Group, which spans industries from travel to telecommunications, Branson’s latest addition is a craft beer that will be exclusively served on Virgin Voyages’ four luxury cruise ships.
The Virgin Craft Beer, brewed in partnership with Brewery Ommegang in Cooperstown, New York, is a classic English-style pale ale, crafted with mountain-sourced water. The 5.5% ABV beer is brewed with CaraRed malt, giving it an amber hue, and features a blend of Citra and Centennial hops, along with orange peel and grains of paradise for a unique flavor profile.
Brewery Closures in Colorado on the Rise
While new business ventures like Virgin’s are emerging, the pandemic continues to take a toll on the craft beer industry, particularly in Colorado. Despite the state ranking fourth in the number of breweries, following Pennsylvania, New York, and California, it has seen a concerning number of closures. The Brewers Association’s recent data highlights Colorado as one of the most impacted regions, alongside other areas like the Pacific Northwest and the West Coast.
“The pandemic had secondary ripples across the economy, affecting supply chains and altering consumer behavior,” said Bart Watson, President and CEO of the Brewers Association. “Consumers are still spending, but in different ways – more through takeout and delivery.”
The shift in consumer habits, paired with economic uncertainty, has left many craft breweries struggling to stay afloat, especially in well-established regions like Colorado.
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