Has America's love of wine reached its peak?
However, another new report released this week may paint a slightly direr long-term picture: Also released Monday, Wine Intelligence's U.S. Landscapes 2020 suggests that though more people are drinking wine, the number of "regular" drinkers is shrinking, especially among younger generations, leaving older drinkers as the "saviors of the wine category."
The report explains that though the number of "at least once a year" wine drinkers has gone up 8 million people since 2015 to 118 million Americans, the number of "once a month" drinkers has fallen by 11 million over that same period to 77 million people, "meaning that only one in three adult Americans now drinks wine at least once a month." And importantly, "the vast majority of the loss—8.
Wine Intelligence points to two factors. "First, this generation is at the forefront of the tendency to drink relatively less alcohol than their parents' generation at the same stage, and spend more time and money on health and lifestyle such as a regular yoga class," the site writes. "Second, their alcoholic beverage portfolio includes a broader swathe of products than their peers of 30 years ago, including craft beer, spirits, hard cider and hard seltzer.
Meanwhile, IWSR points to another phenomenon that could contribute to the trend. "It's also interesting to note that the value increase of beverage alcohol in the U.S. continues to outpace volume growth," Brandy Rand, IWSR's chief operating officer for the Americas, stated, "a clear indicator that U.S. consumers are willing to pay for more premium products." The implication is that, yes, people are drinking less, but it's because they are buying better products.
These findings jibe with a third new report, Silicon Valley Bank's State of the Wine Industry 2020, which found that while wines priced under $9 per bottle continued to see declines, wines priced between $9 and $19.99 "is where most of the growth is found today." The beer industry has seen a similar trend where overall beer sales have declined while premium craft beer has continued to see growth. Still, SVB suggested that even this trend is starting to falter.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No Senator Is Less Popular in Their Own State Than Susan CollinsAs her moment of truth approaches in the impeachment trial, Collins has displaced Mitch McConnell as the senator with the highest disapproval rating back home
Read more »
PSA: You Can Get Two Bottles of This Popular Dry Shampoo for Less Than $10PSA: You can grab two bottles of this popular dry shampoo for less than $10 right now!
Read more »
Racial inequality in Silicon Valley: Pinterest is among many tech companies struggling to become less whitePinterest's slow progress in building a more diverse workforce is a sign that racial equality is not coming anytime soon to Silicon Valley tech.
Read more »
These Top-Rated Wool Socks Are ‘Perfect’ for Boots — and They're Less Than $18You can get them in tons of colors and patterns, too
Read more »
How to Get This Halston Sage Teal Look for Less - fountainof30.comGet this Halston Sage teal look for less.The young actress wore a gorgeous teal monochromatic outfit that can look sleek and sophisticated for 40 year olds.
Read more »