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Could be because they turn out shite, overpriced and gimmicky alcopops.
Seriously. Making beer is easy. Making good beer at scale consistently is incredibly hard, and most craft brewer’s aren’t doing the work.
Probably because they were popping up at an alarming rate, and not everyone drinks that amount of beer!
Expensive beer with often questionable taste.
Some craft beers taste like a competition for the most bitter sparkly urine-like beverage priced at Champagne level. It’s an expendable niche luxury product and money is tight these days.
Cost of living has forced me to reduce spending on such things and I can’t be the only one. Which is a shame of course.
Same in US. Too many to count, and they are not really all that good.