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
After an encouraging start to the year, America’s beer distributors reported a decline in their purchasing outlook during February. Overall BPI fell to 35 (a 14-point year-over-year shift) while the at-risk inventory measure rose to 53.
Two segments recorded higher readings relative to February 2024: FMB/Seltzer (+8) and Below Premium (+2), which recorded its second-highest February reading to date. The Imports segment marked its 57th straight month in expansionary (>50) territory.
Looking across the segments for February:
The index for imports continues to point to expanding volumes with a February 2025 reading of 55; however, that is 13-points lower than the February 2024 reading of 68.
The craft index of 17 for February 2025 continues to signal contraction in this segment and is five-points lower than the February 2024 reading of 22.
The premium lights index fell to 41 for February 2025, 11-points lower than the February 2024 reading of 52.
The premium regular index fell to 36 for February 2025, 12-points lower than the February 2024 reading of 48.
The below premium segment reading for February 2025 (43) is two-points higher than the February 2024 reading of 41; one of two segments to see year-over year increases in their readings.
The FMB/seltzer reading for February 2025 of 36 is eight-points higher than the February 2024 reading of 28; one of two segments to see year-over year increases in their readings.
Finally, the cider segment recorded a February 2025 reading of 25 compared to 30 for February 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!
