: Americans are now spending more on booze than beer

by | Feb 20, 2023 | Stock Market

So much for all those beer ads you see on television. When it comes to Americans’ drinking preferences, booze has now eclipsed brews — at least in the sales department. That’s the finding of a new economic study from the Distilled Spirits Council of the United States (DISCUS), a leading trade group for the liquor industry. The study noted that spirits accounted for a 42.1% share of the beverage alcohol market in 2022, based on supplier revenue, while beer had a 41.9% share. Wine came in third, with a 16% share. 

It’s the first time that spirits have topped beer, according to the DISCUS data. But the two-decade trendline shows this has been a reality waiting to happen, said DISCUS president and chief executive Chris Swonger.  “Year after year, the spirits sector has slowly gained market share,” said Swonger in a statement.  Indeed, in 1999, beer ruled the roost, with a 56% market share versus a 28.2% share for spirits, according to DISCUS. But by 2010, beer’s share had dropped to 49.8%, while the spirits share had increased to 33.3%. In dollar terms, the 42.1% spirits share in 2022 equated to $37.58 billion, DISCUS said. That’s an increase of 5.1% from …

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