The good news is that the astonishing recent growth of craft beer sales hasn't slowed, but has inexplicably increased. A recent press release by the Brewer's Association reports an 18% volume growth and a 20% revenue growth in 2013. These are just amazing numbers. Rarely does growth in any industry, let alone a fairly mature one like beer, reach these anything close to these growth levels. Most businesses are elated whenever they achieve 10% sales increase and seldom does this happen year after year after year.
Bottom line: As overheated as the craft brewing industry seems right now with so many new breweries and brewery expansions, this industry-wide capacity growth seems sustainable in the near term given the 20% increase in revenue growth in 2013. With craft beer still occupying only 7.8% of the beer market, it's hardly to the point of saturation. So a 20% growth rate is still plausible for at least the next two or three years. Maybe the growth will slow, but there's really no compelling reason why. If the industry ever experiences a shake out with many breweries going out of business, that day of reckoning, if it ever comes, seems further off in the future.