Taxable removals edge higher after two months of steep year-over-year declines
The Beer Institute released its unofficial estimate for March 2025 taxable beer removals. U.S. brewers shipped 12.5 million barrels in March, a 0.7% increase compared to the same month in 2024. March 2024 shipments totaled 12,414,404 barrels, already a significant 15.8% drop from March 2023’s 14.75 million barrels. While March 2025’s slight increase marks the first year-over-year gain in three months, the industry remains well below pre-2024 levels.
Comparing the first three months of 2025
The first quarter of 2025 continues to reflect a shaky start for beer shipments:
- January 2025: 10.55 million barrels (down 8.7% from Jan 2024)
- February 2025: 10.3 million barrels (down 14.9% from Feb 2024)
- March 2025: 12.5 million barrels (up 0.7% from Mar 2024)
In total, U.S. brewers shipped 33.35 million barrels in Q1 2025, a 7.3% decrease from the same period in 2024.
What are taxable removals?
Taxable removals refer to the amount of beer shipped from breweries and subject to federal excise tax. This metric offers a real-time look at domestic beer movement and is often used to track industry performance.
Market pressures continue
Craft brewers, in particular, may be feeling the squeeze as production volumes stagnate and consolidation reshapes distribution networks. Bottom Line: March 2025 shipments show a glimmer of stability, but overall volumes remain well below recent norms. Craft brewers should continue watching these monthly estimates to assess market direction and consumer demand. Here are the numbers via the Beer Institute’s website:
| Taxable Removals – TTB | ||||
| (31 Gallon Barrels) | ||||
| Month | 2023 | 2024 | Percent Change | Volume Change |
| January | 11,229,872 | 11,551,511 | 2.9% | 321,639 |
| February | 11,045,637 | 12,104,263 | 9.6% | 1,058,626 |
| March | 14,750,683 | 12,414,404 | -15.8% | -2,336,279 |
| April | 12,870,473 | 12,454,150 | -3.2% | -416,323 |
| May | 12,779,155 | 13,530,780 | 5.9% | 751,625 |
| June | 15,188,694 | 14,271,114 | -6.0% | -917,580 |
| July | 13,271,422 | 12,695,966 | -4.3% | -575,456 |
| August | 14,099,932 | 12,996,999 | -7.8% | -1,102,933 |
| September | 13,106,386 | 11,968,258 | -8.7% | -1,138,128 |
| October | 11,273,866 | 11,390,324 | 1.0% | 116,458 |
| November | 10,795,052 | 10,331,421 | -4.3% | -463,631 |
| December | 11,702,846 | 11,245,933 | -3.9% | -456,913 |
| YTD | 152,114,018 | 146,955,123 | -3.4% | -5,158,895 |
The April 2025 taxable removals estimate is scheduled to be released on June 5, 2025.
