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In Ontario, the country’s biggest market, mainstream beer sales barely increased last year, while they grew nearly 36 per cent for craft beer, making it the top performer amongst all beer segments.

“The increase in craft beers has led to a renaissance in beer and more discussion,” said Glendinning. That’s given the Molson executive, with more than 10 years experience in the industry, hope.

In response to challenges in the past few years Molson Coors recently sold its downtown Vancouver brewery for $185 million and plans to build a more efficient brewery on cheaper land. It’s considering a similar move at its flagship plant in Old Montreal.

And the company is also pushing new flavours, niche products, and even a beer recipe from 1908 in an attempt to capitalize on the increasing influence and growth of craft brewing.

Market share

The number of Canadian craft breweries grew to 520 in 2014, up from 88 in 2006. Craft beer is clearly a growing industry, but it’s still niche, with about 10 per cent market share. That compares with Anheuser-Busch InBev and Molson Coors, which have about 43 and 35 per cent market share respectively.

However, sales for Molson Coors fell to $268 million from $313.5 million in the first quarter, year-on-year. Glendinning said the company’s loss of Miller beer brands in Canada in April 2015 was the biggest factor in the sales drop. Still, it’s further evidence that the industry isn’t as bubbly as it once was.