Last year, more breweries closed than opened in the US, according to the American Brewers Association, the first time this has happened in 20 years.

This was due to “a painful period of rationalization,” said Bart Watson, the association’s VP of strategy and membership, as demand has slowed and retailers look to simplify their offerings. The decline comes from consumers—especially younger generations—who are just not that into the “extra” approach of craft beer. They want lighter-tasting experiences: a more approachable drink that leaves them feeling refreshed. 

At the same time, many are becoming increasingly price-conscious.