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© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.

Abstract

This study aims to estimate the market value, or implicit prices, associated with the main craft beer attributes (e.g., beer style, organic, gluten-free, and package-related features) and support producers in detecting the more profitable marketing strategies. For this purpose, we conducted an empirical analysis employing sales data of craft beers from the Italian online market, and we estimated a hedonic price model via ordinary least squares. Results show that the type of package and cup only has moderate effects on price. Furthermore, a moderate premium price is found for gluten-free craft beers, while craft beers with organic labels and Italian origin do not benefit from the higher price. Instead, the beer style adopted strongly affected the product price: the highest premium prices were detected for Barleywine (+49.9%) and Italian Grape Ale (+39.6%) beer styles. Furthermore, relevant premium prices, higher than +25%, were estimated for other beer styles such as Sour, Fruit Beer, and Stout. Results suggest that artisanal breweries can effectively differentiate their product according to the beer style. To the best of our knowledge, the current study offers the first empirical evidence on how beer styles as well as other product characteristics affect the market price of craft beer by using secondary data.

Details

Title
The Value of Craft Beer Styles: Evidence from the Italian Market
Author
Bimbo, Francesco 1 ; De Meo, Emilio 2 ; Baiano, Antonietta 1   VIAFID ORCID Logo  ; Carlucci, Domenico 2   VIAFID ORCID Logo 

 Department of Agricultural, Food, Natural Resources and Engineering Sciences (DAFNE), University of Foggia, Via Napoli, 25, 71122 Foggia, Italy 
 Department of Soil, Plant and Food Science (Di.S.S.P.A.), University of Bari Aldo Moro, Via G. Amendola, 165/a, 70126 Bari, Italy 
First page
1328
Publication year
2023
Publication date
2023
Publisher
MDPI AG
e-ISSN
23048158
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
2791645827
Copyright
© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.