Last year saw the lowest level of beer consumption in the U.S. in a generation as consumers shifted to diverse forms of alcohol, reports NBC News. Some consumers are also avoiding alcoholic beverages entirely.
"It was a tough year for beer," said David Steinman, Beer Marketer’s Insights VP and executive editor. He said that for the first time since 1999, beer shipments were on track to drop below 200 million barrels.
Leading the downward trend was Anheuser Busch. Although a boycott of Bud Light by some longtime drinkers resulted after the brand penned a sponsorship agreement with transgender influencer Dylan Mulvaney, Steinman said that isolated protests don't explain why overall consumption across categories fell. Rather, he added, there was a long-term decline of “domestic premium” brand consumption affecting brand giants including Bud Light, Miller Light, and Coors Light.
There was also increased competition from a new wave of alcohol products from nontraditional makers, said Lester Jones, VP of analytics and chief economist at the National Beer Wholesalers Association.
"For example, some of the world’s largest soft drink and energy companies introduced sugar-forward alcohol beverages to the market, all of which are vying for the same consumer occasions as traditional malt- and hop-forward products," Jones said.
According to Steinman, beer sales in other parts of the world remain strong. Full Story
Related: Danone to Sell Horizon Organic, Wallaby to Private Equity Firm; CEO Shakeups Abound in 2023