A new report on Irish craft beer shows that nearly two-third of producers are exporting their beer and that turnover in the industry is expected to rise by around 50 per cent this year.
The report was commissioned by Bord Bia and its release coincides with the Irish Craft Beer Festival in Dublin's RDS where over 50 craft brewers will be releasing around 300 different beers later this week.
The report shows that Ireland is home to 62 microbreweries, however only 48 of those produce beer on their premises with the remaining 14 using other breweries to brew their product, reports The Irish Times.
Craft beer producers have seen their total turnover increase with each year, rising from around €23 million in 2014 to €40 million in 2015m with an estimated turnover of €59 million this year.
Microbreweries produced around 134,000 hectolitres between 2011 and 2015, an increase of 415 per cent. This year they are expected to produce 197,000 hectolitres due to capacity expansions and the setting up of new microbreweries. In 2015, 18 per cent of total craft beer production, around 24,000 hectolitres, was exported.
Craft beer consumption shows no signs of slowing down as the report expects it to account for 3.4 per cent of total beer consumption in 2016, up from 2.5 per cent the previous year.