Athletic Brewing Company, a leading nonalcoholic brewer, has recently secured an additional $50 million in equity financing, with General Atlantic leading the round. This investment is expected to propel the company’s growth and expansion plans, further solidifying its position in the market as a key player. With a focus on transforming the way modern adults consume beverages and catering to the rising demand for nonalcoholic options, Athletic Brewing Company is making waves in the industry.
The latest round of funding will enable Athletic Brewing Company to increase its production capacity and expand its offerings at global retailers. This move comes in response to the growing consumer interest in nonalcoholic beer and the company’s commitment to meeting this demand. By investing in its production capabilities, Athletic Brewing Company aims to capture a larger market share and solidify its position as a top player in the nonalcoholic beverage space.
Since its inception in 2018, Athletic Brewing Company has seen tremendous growth, becoming the 10th largest U.S. craft brewery and the 20th largest overall U.S. brewing company. Despite offering only nonalcoholic options, the company has managed to capture over 19% market share within the nonalcoholic beer segment and is driving 32% of total category growth. With a focus on innovation and quality, Athletic Brewing Company has been able to attract a loyal customer base and achieve significant revenue growth.
Athletic Brewing Company currently operates two brewing facilities in the U.S. and has recently announced the acquisition of a third facility in San Diego. Once operational, the new facility is expected to double the company’s U.S. brewing capacity, allowing for further growth and expansion. By strategically investing in its infrastructure and production capabilities, Athletic Brewing Company is positioning itself for long-term success in the market.
The success of Athletic Brewing Company can be attributed to the growing health and wellness trends that are driving consumer interest in nonalcoholic beverages. With over 40% of Americans actively trying to drink less alcohol, there is a clear shift towards healthier beverage options. This trend is further amplified among millennials and Generation Z, with nearly 50% and 61% respectively expressing interest in nonalcoholic alternatives. Established beer companies are also recognizing this shift in consumer preferences and are introducing their own nonalcoholic offerings to cater to this growing demand.
As the demand for nonalcoholic beverages continues to rise, companies like Athletic Brewing Company are well-positioned to capitalize on this trend and drive growth in the market. By focusing on quality, innovation, and consumer preferences, Athletic Brewing Company has been able to carve out a niche for itself in the competitive beverage industry. With a strong focus on expanding its production capacity, investing in new facilities, and catering to shifting consumer trends, Athletic Brewing Company is set to continue its success in the nonalcoholic beverage market.