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Athletic Brewing Raises $50 Million Amid Nonalcoholic Beer Surge

Athletic Brewing Raises $50 Million Amid Nonalcoholic Beer Surge

The nonalcoholic beverage trend is gaining momentum, and Athletic Brewing Company is leading the charge. Recently, Athletic Brewing secured $50 million in equity financing, marking a significant milestone in the company’s growth and the broader nonalcoholic beer market.

Athletic Brewing’s Recent Funding

Equity Financing Announcement

Athletic Brewing announced that it has raised $50 million in a funding round led by General Atlantic. This investment highlights the increasing confidence in the nonalcoholic beer sector. Bill Shufelt, CEO and founder of Athletic Brewing, expressed his enthusiasm, stating, “We are passionate about transforming the way modern adults drink and converting critics into believers. This investment will help us scale our operations to meet the growing demand.”

Investment Purpose

The newly acquired funds will be used to boost production capacity and expand product offerings at global retailers. The goal is to meet the rising consumer demand for nonalcoholic beer, which has been growing steadily as more people seek healthier lifestyle choices.

Market Impact

Market Share and Growth

Athletic Brewing holds a significant 19% share of the nonalcoholic beer market and is responsible for 32% of the total growth in this category, according to NielsenIQ data. This impressive market presence underscores the company’s leadership in the nonalcoholic beer industry.

Revenue and Valuation

The company has seen its revenue double since its Series D funding round 18 months ago. The latest fundraising has also doubled Athletic Brewing’s valuation, which now stands at $800 million. These financial milestones reflect the company’s robust growth and market potential.

Company Background and Achievements

History and Growth

Founded in 2018, Athletic Brewing has quickly ascended the ranks to become the 10th largest U.S. craft brewery and the 20th largest overall U.S. brewing company. This rapid rise is even more remarkable considering the company’s exclusive focus on nonalcoholic beverages.

Brewing Facilities

Athletic Brewing currently operates two facilities in the U.S., located in Milford, Connecticut, and San Diego, California. Recently, the company announced the acquisition of a third facility in San Diego, which is expected to double its U.S. brewing capacity. This expansion is a critical step in meeting the increasing consumer demand for their products.

Consumer Trends and Market Dynamics

Health and Wellness Trends

The success of Athletic Brewing is largely driven by the growing health and wellness trends among consumers. More than 40% of Americans are actively trying to reduce their alcohol consumption, a figure that rises to 49% among millennials and 61% among Generation Z, according to NCSolutions data. This shift in consumer behavior is fueling the demand for nonalcoholic beverages.

Industry Response

In response to these trends, established beer companies like Heineken, Corona (owned by Constellation Brands), Budweiser (owned by Anheuser-Busch), and Guinness (owned by Diageo) have also introduced nonalcoholic beer options. This industry-wide shift highlights the significant market potential for nonalcoholic beverages.

Future Outlook

Long-term Vision

Athletic Brewing’s CEO, Bill Shufelt, envisions a future where nonalcoholic beer is a staple in the daily lives of modern adults. The company aims to provide beverages that people can enjoy any day of the week without compromising their health goals. With General Atlantic’s support, Athletic Brewing is poised to enter its next phase of growth and innovation.

Market Potential

The nonalcoholic beverage market is expected to continue its upward trajectory. Athletic Brewing is well-positioned to capitalize on this trend, offering high-quality products that cater to health-conscious consumers. The company’s continued focus on innovation and expansion will likely drive further market penetration and growth.


Athletic Brewing’s recent $50 million funding round is a testament to its leadership in the nonalcoholic beer market. With a robust market presence, increasing production capacity, and a clear vision for the future, Athletic Brewing is set to shape the future of the nonalcoholic beverage industry. As more consumers embrace healthier drinking habits, Athletic Brewing’s influence is likely to grow, solidifying its role as a pioneer in the nonalcoholic beer revolution.


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