According to industry association Beer Marketer's Insights, U.S. beer consumption dropped to its lowest level in a generation last year as consumers switched to alternative alcohols and avoided alcohol altogether.
David Steinman, BMI vice president and executive editor, stated, “It was a tough year for beer.” He claimed beer shipments could drop below 200 million barrels for the first time since 1999.
Steinman said the controversies surrounding Bud Light's sponsorship of transgender influencer Dylan Mulvaney, which led to a boycott by some lifelong customers, do not explain why overall consumption fell.
Steinman said Anheuser Busch was accelerating the long-term demise of domestic-premium brands like Bud Light, Miller Light, and Coors Light.
In an email, National Beer Wholesalers Association chief economist Lester Jones said the beer sector is also seeing a rise of new alcohol products from non-traditional suppliers.
He said some of the world's leading soft drink and energy businesses created sugar-forward alcohol beverages to compete with malt- and hop-forward goods.
Steinman noted that despite declining volume consumption, the top beer companies were financially resilient due to rising pricing that matched or exceeded inflation.
Significant headwinds persist. As the craft-beer boom of the 2010s fades, consumers may be overwhelmed by the variety of alcoholic beverages available.