By: Lester Jones, NBWA Vice President, Analytics and Chief Economist
The NBWA Beer Purchasers’ Index (BPI) is an informal monthly statistical release giving distributors a timely and reliable indicator of industry beer purchasing activity. BPI is the only forward-looking indicator for the industry to measure expected beer demand (one month forward) in the marketplace. Similar to the widely recognized Purchasing Managers’ Index, the BPI is a net-rising index and a leading indicator of industry performance based on survey responses from participating beer purchasers. The index surveys beer distributors’ purchases across different segments and compares them to that of previous years’ purchases. A reading greater than 50 indicates the segment is expanding, while a reading below 50 indicates the segment is contracting.
The Latest Data
February’s decline in beer purchasing outlook continued into March, as overall BPI fell to 33 and the At-Risk Inventory measure remained above the benchmark at 50. The combination of index readings places the industry in contractionary territory for a second month of 2025.
Looking across the segments for March:
The index for imports falls into contractionary territory for the first time since April 2020, with a March 2025 reading that is 21-points lower than the March 2024 reading of 67.
The craft index of 20 for March 2025 continues to signal contraction in this segment and is 15-points lower than the March 2024 reading of 35.
The premium lights index fell to 40 for March 2025, 14-points lower than the March 2024 reading of 54.
The premium regular index fell to 35 for March 2025, 14-points lower than the March 2024 reading of 49.
The below premium segment for March 2025 at 45 is one-point lower than the March 2024 reading of 46.
The FMB/seltzer reading for March 2025 of 40 is seven-points higher than the March 2024 reading of 33. The FMB segment is the only segment to post a higher reading in March 2025 compared to March 2024.
Finally, the cider segment posted a March 2025 reading of 32 compared to 34 for March 2024.
Beer Distributors
Please sign up to participate and receive the first and only advance notice of expectations for increasing or decreasing sales. Complete the form below using your company’s primary beer purchaser’s contact information. For additional information, please email bpi@nbwa.org.
Beer Distributor Expectations Sign Up
Sign up to participate and receive the first and only advance notice of expectations for increasing or decreasing sales!
