Millennials Dropping Beer and Seeking Other Relaxants

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A couple years back, it became apparent that millennials were switching from beer to craft brews and pivoting to wine and craft cocktails. More recently, millennials have been opting out of booze in favor of pot. Between 2008 and 2017, marijuana usage increased 4.6% among 18- to 25-year-olds, and alcohol consumption fell 2.5%, according to a Cowen report (LendEdu.com, 5 May 2017). While the craft-beer trend seems to have slowed, the other mentioned trends seem to be increasing at a steady pace. This is pretty bad news for mass-market beer brands such as Miller, Coors, and Budweiser.

As consumers under 35 make this shift, beer sales in the US will drop 0.7% in 2017, according to Goldman Sachs projection (NYPost.com, 24 July 2017). While craft beer sales are projected to increase 2.5%, this is still a far cry from 2011, when sales increased 17.9%.

As beer struggles to hold its grip on the market, wine sales seem to boom. Since January 2017, rosé consumption is up 57% from the previous year, while beer fell 0.6%, according to Nielsen data (BusinessInsider.com, 3 August 2017).

Compared to previous generations, Millennials are consuming less alcohol in general. This is a possible side effect of them striving to become more responsible adults.

 

Source: Iconoculture