Voodoo Brewing Co. CEO Featured on CNBC’s ‘Power Lunch’ to Discuss the State of Craft Beer

Voodoo Brewing Co. CEO Matteo Rachocki recently joined CNBC’s “Power Lunch” to discuss the state of the craft beer industry and consumer trends. Despite an overall decline in beer production, the craft beer sector has 420 new breweries opening across the U.S. in 2023, surpassing 385 closures.

Something that sets Voodoo Brewing Co. apart in the market is its unconventional franchising approach. Rachocki explained that entrepreneurs can benefit from a brewing taproom without the burden of constructing a brewing facility. This unique model challenges the typical ownership structure widely used across the industry.

The conversation touched upon the influence of major beer conglomerates like Budweiser and Constellation, which have ventured into producing craft-style beers, creating what Rachocki refers to as "macro craft." However, he noted that consumers are becoming more discerning, demanding transparency about the origin of the product and the companies behind it, marking a trend expected to gain traction in the coming year.

The craft beer industry faces emerging competitors, including the rising popularity of non-alcoholic products, seltzers and beverages infused with cannabis. Addressing the challenge of a crowded market, Rachocki acknowledged the overwhelming choices that consumers face. Despite the saturation, he emphasized that there's still room for diversity and innovation, with something out there for everyone.

Rachocki also highlighted the importance of convenience when it comes to consumer trends. That’s why Voodoo Brewing Co.’s strategy revolves around creating community establishments that serve as local one-stop-shops for consumer needs.