Brewery Boom Amps Up Competition, Hurting Boston Beer: Chartby
A founding father of craft beer is struggling to keep up with younger rivals. Boston Beer Co., the maker of Sam Adams, lowered its 2016 earnings projections on Thursday, saying increased competition is hurting sales. The number of operating breweries in the U.S. reached a record high in 2015, according to the Brewers Association. And their ranks are still growing. There may be more than 5,000 breweries at the end of 2016, said Bart Watson, the trade group’s economist.