TIL World’s biggest beer, wine and spirits producers have collectively lost $830 billion in market value over just four years. Changing drinking habits and rising health concerns have hit earnings across the sector. Millennials and Gen Z are also not much interested in alcohol.
You must log in or register to comment.
Good, alcohol is a terrible drug.
I’d rather see the gambling industry take a massive hit.
Why not both?
Well that’s what happens when you socially engineer an alcoholism epidemic to boost sales in the near-term, but then people grow up and realize they need to quit drinking or else they’ll continue destroying their lives on repeat like it’s groundhog day or something
Alcohol always finds a reason and you don’t want it, it wants you. Oh it’s christmas have some wine, a toast at new year’s no big deal, oh look new years day keep drinking to avoid the hangover. MLK!!! and takes two shots, Valentine’s Day you’re on a dinner date with wine or a mixed drink or drowning alone, easter ham you might want a drink cause it’s too salty, Saint Patrick’s Day, Cinco Di Mayo and Mari Gras literally known for getting tanked, forth of July people are urged not to leave their houses at night same as new years eve for drunk drivers… what else… Halloween gotta party right? Then Turkey Day/Colonizer Day /Guilty White Person day-aka Thanksgiving and people chug the wine and argue or just get drunk and pass out right after dinner.
Then Christmas shows up and the fuckin ’ cycle starts all over.
Same with mother fucking chocolate.
Hey I think we need more reasons to get tanked not less
I wonder if this industry is responsible for the surge in anti-cannabis content I’m seeing pushed in my social feeds of late.
Almost certainly. They don’t want people to be able to have a fun buzz with out consequences the next day legally.
A long time ago I saw a website that had a sort of humorous dictionary on it. The entry for DEA always stuck with me:
D.E.A. - Distiller’s Enforcent Apparatus. An army of masked thugs licensed to rob, defame, kidnap or kill those suspected of preferring other drugs over alcohol.
Yes.
They’re also responsible for anti-cannabis legislation.
Yes
Two things can be harmful to health at the same time. Both cannabis and alcohol have negative effects to your health.
Square!
(Ok fine you’re right)
True, but also is true that one is way worse for your health and has had a metric fuck ton of studies. But the way you sound, it sounds like your pushing alcohol.
What mental gymnastics did you do to go
from
“Both Alcohol and Cannabis have negative effect on your health.”
To
“It sounds like your pushing alcohol” (should be you’re btw)
I’m pushing for neither, we should reduce alcohol consumption and weed consumption and even tobacco consumption for that matter. I want society to be healthier in general
I want socio economic conditions be so good, no one should feel the need to use any kind of intoxications to feel happy. I want adaquet mental health support.
Yep. Bro. What drugs are you on because I want some.
My drug is pure unaldertrated horniness bro
Certainly not phonics
I want socio economic conditions be so good, no one should feel the need to use any kind of intoxications to feel happy. I want adaquet mental health support.
LOL! Not happening in our lifetime. Enjoy the weed
Agreed.
I never used weed to feel happy. I never even thought it made me feel happy. Giddy, elated, calm - sure. But I keptt going back to it because I thought the time perception distortion effect and the visual/audio effects were fascinating.
I suppose there’s a difference between use and abuse, and that drugs affect individuals differently. But damn, if all you get out of weed is “happy,” I feel like you’re missing out! (Not that happiness isn’t important)
For me, the happiness from weed comes from enjoying everything more… food, drink, sex, movies/tv, doing nothing, video games.
I live with cryonic nerve pain and life can be pretty miserable. Weed doesn’t make it hurt less, just easier to ignore because everything else is better. I’ve tried all the pills doctors give me and they have been useless so far, but I’m always willing to try whatever promises relief
deleted by creator
Weird. Why don’t you block ads like everyone else?
Where are you seeing it exactly?
Next to the billboard for the dispensary, in the drunk tank, my mother
You should bail your mom out of the tank.
No!
They didn’t “lose money”, they made less money than they thought they were going to make, or hypothetically could have made if we were living in some imaginary situation instead of actual reality.
If I go to my fridge and find out that there isn’t as much ketchup in there as I thought there was I don’t write an article whining about all the ketchup I’ve “lost”.
Dude some of them legit lost. I love near wine country. The ones that adapted did well, the ones that didn’t, fuck em. The bigger hit was Krasnov’s trade war
yeah but think of all the folks betting on ‘ketchup futures in some random dude’s fridge’ they are gambling on?
what about THEM?
Someone needs to bail out Czech republic
What on Earth is “vine”?
MILLENNIALS destroying ANOTHER thing! WHY don’t they just SPEND the Money we DONT give them on these BAD things that will Make them Feel like CRAP while making US Richer?
-Billionaires!
They really are the selfish generation
Oh no, it’s definitely the zoomers for this one. Millennials were big on cocktails.
a lot of younger millenials that I know are consciously drinking less. a higher number than expected are outright sober (whether due to previous addiction or just because why not)
Don’t forget my ever famous mocktails and cocks party where we auctioned off roosters for the local homeless shelter
Millenials were also big on the whole craft beer thing (at least in North America, not sure how that trend played out in the rest of the world).
tf you guys mean “were”
In the case of the craft beer market, it’s not nearly as overhyped as it once was.
not here, there’s at least one craft brewery in every town.
also you made it sound like the past tense applied to the millenials themselves :P
It’s because anyone over 30 automatically becomes a boomer. Gen X has been all boomers for a long time and no one noticed. Millennials are critically endangered, but if you donate to my “save the Millennials” fund, we may be able to bring them back from boomerism before it’s too late.
Well, there was awhile when you could walk into a brewpub and order a variety of things. Stouts, ESBs, barleywines, porters…then Trump got elected the first time, and all beer became IPAs. They must be cheaper to make or something, but people who like beer that tastes like anything other than dogwood leaves were just fired as customers.
Yes it’s all trump. As we all know, he demands IPA with his standard McDonald’s MRE
I don’t think it’s causal but that’s about when it happened. I was at a brew pub that election night and I don’t remember having much good beer since then.
IPAs are way easier to make and harder to fuck up. Other beers are much more mild on the palate so you can taste imperfections. If an IPA tastes like shit, just add more hops until you can’t tell.
IPAs were definitely a trend by 2016.
You can make an IPA in half the time. Also, Lager is especially difficult.
Yeah, but hops is by far the most expensive ingredient of the beer. Especially the hops used in US IPAs. Easier to make, but definitely not cheaper.
Millennial here, IPAs are too expensive to have more than once a week or two. And getting them out at shows is fucking insane ($12-16).
The article mentions the largest producers, so I wonder how much of this is people buying from local breweries instead of drinking Budweiser.
Craft beer is huge in Australia
I lived in a part of Sydney famous for having dozens of breweries in a relatively small area
I could walk easily around some amazing places, and I could take my dogs to almost all of them
Americans are also big, and like 1/8 adults are on GLP-1s.
GLP-1s make the seltzer cans a hell of a lot more appetizing than a heavy/hoppy beer.
I’m an elder millennial and I hardly ever drink, I know a lot of people like me. It’s almost like generalizing is a bad idea.
Yup. But millenials are getting to an age where hangovers are just not worth it, and you get gens are not continuing the slack. All my younger friends use all sorts of substances, but rarely alcohol…
Millennials taking credit for doing nothing, story at 11
For me, it was the colon cancer…
When I hit my late 20s (a decade ago…) I pretty much just upped and stopped drinking. No problem, no real reason just didn’t enjoy it anymore. Now I maybe go through a six pack or two a year mostly when doing yard work, or will have a beer socially once a month or every other month. Its just too expensive and I got better shit to do.
When I was 22, I could get blackout drunk and be fully functional by noon the next day. The hangover was almost like a handy alarm clock.
Now if I get drunk I feel like shit for like 3 days.
i used to like to drink because it was fun and tasted good.
now most places serve the same shitty drinks that are not worth the crazy prices they charge. very few places offer worthwhile alcohol service anymore. every place has like the same 8 drinks they push. it’s boring to drink the same boring flavored drinks over and over. $20 for a shot of cheap vodka and a ginger beer and a squirt of lime juice is utter insanity. esp when i can go to another bar and pay that same price and get an actual good cocktail with a unique and interesting flavor.
That doesn’t sound like you stopped.
I mean not 100% obviously but went from going out drinking weekly to going so long without drinking I might not remember the last time I had a beer. Point was pretty much everyone I know.has cut back significantly.
Yeah don’t listen to that guy, good stuff. Drinking a little is fine, especially in small moderation like that, although I’m sure someone will show studies that having even a single drop of alcohol is still harmful.
I’m on the same road, friend. My social group has a lot of social tokers. I’m a mmj user. Hoping they keep me around or use me as their excuse to light up. I was the DD for a different group and when I started using the mmj they saw a hell of a lot less use for me (some friends, huh?)
I’m sure the fact the Canadians have stopped buying American products costing producers $500+ million per year hasn’t been so good for them either.
Hey, we think alike! That’s what I hear from my buddy out at the winery. Although, weed has been here a few decades, they’re used to it already. They don’t really care about it as much, they’ve even got an unofficial toking porch at the vineyard (don’t tell the POlice) the trade wars are killing them tho.
It’s unrelated since this is about global attitude changes towards alcohol. US brands weren’t the only ones impacted.
The younger generations just aren’t drinking as much as previous ones.
For the American market, that is what the big worry is. Foreign boycotts, not weed. We’ve been dealing with weed for a long time. When considering the global market in aggregate, we can break out submarkets and examine their issues (you know, macroeconomic analysis) without ignoring the general equilibrium issues like you seem to be doing.
The US has $5-7b in alcohol sales per month. Losing $500m a year due to a boycott isn’t a meaningful decrease, and certainly isn’t relevant to people losing faith in the global alcohol industry’s growth rate and selling stocks.
Due to a boycott from a single nation. How many countries we sell liquor to?
You may not think it’s related, but math and the bottom lines of American producers would disagree.
You do realize the global alcohol market is around $2t, right? A $500m change is 0.025% of the market.
We’re talking about companies with tens if not hundreds of billions of dollars in yearly revenue. They probably feel more pain when people stop drinking for Lent.
This article is talking about global trends and people losing faith in the alcohol industry’s growth rate causing them to sell stock.
My comment clearly (but apparently not clearly enough) referenced the fact that American producers are dealing with the add on effect that the Canadian boycott is having. I read the article, you failed to read my comment.
No, your comment was clear. It just has no relevance to the post.
I’ll make sure to give your opinion all the consideration it deserves, professor.
Most of the people I know are cutting back not because of health or habits, just because everything is so crazy expensive now. I feel like booze has been almost completely priced out of its target demographic.
I remember my dad saying when he started going to bars with his friends they would have beers because they were half the price of cocktails that were 3 bucks. Now a beer is ten bucks with a tip. Who the fuck wants to pay that?
cocktails are 20 bucks plus tip. still half the price of beer. more than an appetizer and almost as much as an entree at this point.
basically 25 bucks for a single drink at your average bar. fancy places high end you’re talking closer to 30-40 per drink, which at that point you might as well start just ordering the $200+ bottle of wine, as it will be cheaper.
and every bar around me is packed most weekends, because where i live people don’t think twice about blowing $500 eating and drinking in a weekend. but then they all cry about how poor they are… yeah it’s hard not to be poor if you are drop 2,000 a month on booze and eating out every month.
i had a renter a few years ago who would come home shitfaced every weekend and then not pay the rent for like two weeks. they were shocked when I terminated their lease 60 days later.
Death to all landlords. Fuck you, leech.
Yeah, while I’m happy that this is making my favorite stuff cheaper, it’s still very expensive. Blanton’s was selling for $120/bottle just last year if you could even find it in my area, but I can find it in a regular grocery store for $80 now. EH Taylor went from $100/bottle and hard to find to $60 and all over the place. That’s WAY more affordable but also still really damn expensive compared to Buffalo Trace (all three of these brands are from the same parent company and from roughly the same recipe and source ingredients).
Scotch is slightly cheaper now, too. Dalmore 15 was selling for $120 last year and is around $100 now. Two years ago, Dalmore King Alexander was $340 but can be found in the grocery store for $280 now.
What I haven’t seen yet is a drop in price of Burgundy. I can’t afford to pay $300/bottle for a Nuits-Saint-George Gran Cru.
Even looking away from luxury booze brands, the cost of cocktails is also very high. I have to pay $21 for a cocktail at a moderately priced restaurant in my area.
Cocktails are a scam. Most places (and even some of the best places) are using cheap base ingredients, and the end results are gimmicky, boring, and lacking in complexity. At best, the median quality cocktail is nice to look at and features an acceptable balance of sweetness and acidity. A fucking glass of cold juice wins on a head-to-head of those metrics almost every time haha.
Yeah, there is a difference between an $8 and a $20 cocktail.
Though I agree with you that too many places will charge a $20 price for a $8 quality.
You’re definitely not going to the right places to get a cocktail.
What’s the word? Thunderbird!
Obligatory:
Dear gods! I started working on losing weight last year and all but quit drinking. Are you telling me I tanked the industry?!
Honestly. Ozempic and friends may be a big part of this.
Guys, I found the culprit!
Millennials are killing the carcinogen industry!
Keep increasing the price to ensure it gets worse. Please legal drug dealers. Price yourself out of work.
The line must go up, they say, and these guys can’t come up with all kinds of schemes for subscriptions or selling your data to extract more cash, government is often limiting their marketing, so they’re restricted to lowering quality and increasing prices until you run out of customers.
They are going to eventually just hire armed guard to force us to drink.
