Athletic Brewing Company’s recent announcement of raising an additional $50 million in equity financing has caught the attention of the beverage industry. Led by General Atlantic, this funding round is expected to propel the company into its next phase of growth by increasing production capacity and expanding offerings in global retailers.
The demand for nonalcoholic beer has been on the rise, and Athletic Brewing Company has positioned itself as a key player in this market. With over 19% market share in nonalcoholic beer and driving 32% of total category growth, the company has garnered attention for its innovative approach to crafting high-quality nonalcoholic brews.
Since its launch in 2018, Athletic Brewing Company has rapidly grown to become the 10th largest U.S. craft brewery and 20th largest overall U.S. brewing company. With revenue more than doubling since its Series D funding round 18 months ago, the company’s valuation has also doubled to $800 million with the latest fundraising. This success has allowed Athletic to expand its brewing facilities, including the recent purchase of a third facility in San Diego.
The company’s success can be attributed to the growing health and wellness trends that are influencing consumer choices. More than 40% of Americans are actively trying to drink less alcohol, with higher percentages among millennials and Generation Z. This shift in consumer behavior has created a market opportunity that Athletic Brewing Company has adeptly capitalized on.
Established beer companies like Heineken, Corona, Budweiser, and Guinness have also recognized the trend towards nonalcoholic beverages and have introduced their own nonalcoholic beer offerings. This competition signals the growing interest in nonalcoholic beer and the potential for further market expansion in the future.
As Athletic Brewing Company continues to grow and innovate in the nonalcoholic beer market, the company is well-positioned to meet the rising consumer demand for healthier beverage options. With General Atlantic’s support and the company’s commitment to transforming the way adults drink, Athletic is on track to solidify its place as a leader in the industry.
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