Has the war in Ukraine claimed an unexpected casualty? Possibly.
It seems the heavily bearded hipsters in dockers' hats behind the craft brewery explosion are now feeling the pinch as the runaway inflation and higher interest rates in the wake of the conflict have made their economic impact felt.
That's based on a report by the accountancy firm Mazars, which said there was an 82% increase in brewery insolvencies last year, with figures rising from 38 in 2022 to 69 in 2023.
This surge predominantly affected smaller "craft" breweries, which struggled amid market oversaturation, high interest rates, and soaring inflation.
These economic factors have pushed up significantly the costs associated with leasing brewing equipment and covering expenses like electricity, hops, and salaries.
At the same time, the cost-of-living crisis has prompted consumers to opt for less expensive, mass-market beers over premium offerings from craft breweries, further squeezing the sector.
The craft beer market's competitiveness has intensified over the last decade, but many breweries find expanding beyond local markets challenging, limiting their profitability.