December Beer Tax Estimate Reveals Decline in Shipments
Overview of December 2024 Domestic Beer Shipments
Recently, the Beer Institute shared an estimate reflecting the domestic tax paid shipments by beer brewers for December 2024. This report marks an important analysis of the current state of the brewing industry in the United States. With the estimate set at 11,300,000 barrels, there is a notable decline of 3.3% from the December 2023 figure of 11,682,700 barrels.
Yearly Comparison of Beer Shipments
Breaking down the numbers provides a clearer picture of trends over the year. The data indicates that year-to-date (YTD) shipments for 2024 have reached 146,945,055 barrels, which is a decrease from the previous year's YTD total of 152,013,778 barrels. Such declines could be influenced by various factors including changes in consumer preferences, economic conditions, and industry-wide challenges.
Monthly Estimates for 2024
Below is a brief overview of each month’s estimated tax paid shipments for both 2023 and 2024, showcasing the percentage changes and volume variations:
Monthly Breakdown
In the month of January, there was an increase to 11,509,808 barrels from 11,208,167 in 2023, reflecting a growth of 2.7%. February saw a more significant rise with 12,101,619 barrels reported, up by 9.6% compared to the prior year. However, this growth trend faced challenges during the following months, particularly in March, where shipments dropped by 15.9% to 12,392,858 barrels.
April witnessed another decrease of 3.3% with shipments totaling 12,448,798 barrels. Conversely, May returned to an upward trend with a growth of 5.8% to 13,523,539 barrels. June, however, reported a decline of 6.2%, bringing the number down to 14,235,617 barrels. July and August both followed this downward trajectory, decreasing to 12,690,355 and 12,989,214 barrels, respectively.
September marks a notable drop as well with an estimated figure of 11,862,907 barrels, a change of 9.4%. October rebounded slightly with a modest increase of 0.8%, reported at 11,360,340 barrels. November continued the decline to 10,530,000 barrels, down by 2.4%. Finally, December concludes with the recent estimate lowering to 11,300,000 barrels.
The Role of the Beer Institute
The Beer Institute serves as a crucial voice for the American brewing industry, advocating for its members which include brewers, beer importers, and related suppliers. This association not only represents the interests of this vibrant industry but also reflects its undeniable impact on the economy, supporting nearly 2.4 million jobs and contributing over $409 billion annually.
Commitment to Public Policy
Founded in 1862 as the U.S. Brewers Association, the Beer Institute's mission continues to center around fostering sound public policy while emphasizing civic responsibility. This ongoing commitment underscores the importance of supporting legislative measures that benefit the industry as a whole.
Future Projections
As the brewing industry continues to navigate through changing market dynamics, the Beer Institute plans to release the January 2025 domestic tax paid estimate on March 6, 2025. This forthcoming report will be pivotal for brewers and stakeholders aiming to adapt to the developing landscape.
Frequently Asked Questions
What does the December 2024 estimate indicate for the beer industry?
The estimate indicates a decrease of 3.3% in domestic beer shipments compared to December 2023, suggesting challenges within the industry.
How does the Beer Institute support the brewing community?
The Beer Institute advocates for brewers and related stakeholders, focusing on public policy development and promoting industry interests.
What factors contributed to the decline in beer shipments?
Factors include changing consumer preferences, economic conditions, and market competition impacting the overall demand for beer.
When will the next domestic tax paid estimate be released?
The upcoming January 2025 estimate is scheduled for release on March 6, 2025.
Why is the Beer Institute significant for the economy?
It plays a key role in representing an industry that supports millions of jobs and generates substantial economic contributions.
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