Is wine becoming less popular?
- Is wine becoming less popular?
Americans bought less wine last year, the first such drop in a quarter of a century, as millennials opt for alternatives like hard seltzers, cocktails and nonalcoholic beer. The volume of wine purchased in the U.S. declined 0.9% in 2019, the first time it has fallen since 1994, according to industry tracker IWSR.
- Is the wine industry growing?
The industry is large, growing and contains a mix of massive global producers and small, local wineries. Over the five years to 2021, the industry experienced near-consistent revenue declines as consumer preferences shifted toward distilled spirits and ready-to-drink (RTD) beverages, such as sparkling seltzers.