U.S. craft breweries set their sights on foreign markets

Global Business

U.S. craft breweries set their sights on foreign markets

Craft beers are made in small, regional breweries, but they are very big business in the U.S. Now many American craft brewers are setting their sights on foreign markets. CCTV’s Mary MacCarthy reports from the U.S. state of Colorado.

Numbers from the trade group that represents independent entrepreneurships, the Brewers Association, show that craft breweries account for 14.3 billion dollars in annual sales. The U.S. state of Colorado alone tripled last year in its foreign exports of craft beer.

An after-work beer on a hot day is a must at one of Denver’s many craft breweries. Craft beer drinkers liken themselves to wine connoisseurs, analyzing and appreciating the subtlety of each brew.

U.S. craft breweries set their sights on foreign markets

U.S. craft breweries set their sights on foreign markets

Craft beers are made in small, regional breweries, but they are very big business in the U.S. Now many American craft brewers are setting their sights on foreign markets. CCTV's Mary MacCarthy reports from the U.S. state of Colorado.

Market experts say the dark ales and lagers that characterize American craft beer appeal to the international palette. Canada, the United Kingdom, and Sweden are the biggest export destinations for now, but growth has been substantial in the Asia Pacific region.

Foreign sales of Colorado craft beer have been so successful that the industry has been cited as a model for the future of American exports.

Epic Brewery in Denver even caught the attention of a big-name Washington player, Ambassador Michael Froman, the Obama administration’s Trade Representative. He stopped in to try the house specialties.

For now, craft beer still makes up less than ten percent of the total U.S. beer market. While sales of traditional beer have been dropping, craft beer sales have experienced strong growth , suggesting that the future of American beer likely lies in small breweries like Epic Brewery.

Follow Mary MacCarthy on Twitter @MaryMacCarthy