The Alcohol Industry Lost $830 Billion In the Last 4 Years, Thanks Largely to Gen Z
“Gallup found U.S. alcohol consumption has fallen to a record-low 54% of adults, the lowest level since Gallup began tracking in 1939. Meanwhile, public health warnings have gotten harder to ignore.” - Relevant
Bad job on the editor's part. The $830 billion loss was on worldwide market cap (shares * price/share) of top makers of alcoholic beverages. So we are not talking about a "loss" as when profit goes into the red, but rather a drop in stock prices. If you want a hint about profitability, the P/E ratios for both InBev (Anheuser-Busch) and Diageo are about 25 currently. Molson-Coors has had a loss for the last couple of quarters, though.
And really, worth noting as well is that a tremendous portion of mass market alcoholic beverages are shunned by drinkers with functioning taste buds. Here's hoping that this represents drunkards taking it easier.
For overall drinking rate, Gallup provides a nice chart going back to the end of Prohibition. It's on the lower end of the range now, but nothing earth-shattering.
Aspiring to be a stick in the mud.
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