Young Americans ditching beer for wine
Young Americans are falling out of love with beer while their preference for wine and spirits is increasing according to a new study by Goldman Sachs.
As reported by The Washington Post, 20 years ago 70% of Americans aged 18 to 29 preferred beer over wine and spirits, while today the figure has fallen to just 40%.
Meanwhile, the percentage of Millennials who favour spirits over beer and wine has risen from 13% to nearly 30% over the same period, while generation Y’s wine lovers have risen from 15% in 1994 to 25% today.
The change in drinking habits isn’t restricted to youngsters – consumers across the US have been drinking less beer in recent years, with nationwide consumption falling by 9% between 2002 and 2012.
However, younger consumers are driving the decline, with Americans aged over 50 remaining faithful to beer.
The Washington Post predicts that, despite its ongoing popularity and mushrooming growth, the craft beer category might soon plateau.
“While we’re not there yet, we’re definitely approaching bubble territory,” Spiros Malandrakis of Euromonitor told the paper.
“Alcohol consumption is cyclical by nature. Believe it or not, we tend to drink what our grandparents drank, not what our parents drank,” he added.