Alcohol Consumption Remains Level While Trends Shift

08/23/21 09:55AM EDT

Below is a brief excerpt from a complimentary research note written by our Consumables analysts Howard Penney and Daniel BiolsiWe are pleased to announce our new Sector Pro Product Consumables Pro. Click HERE to learn more.

Alcohol Consumption Remains Level While Trends Shift  - 8 23 2021 9 48 08 AM

According to a Gallup poll in July, 60% of adults in the U.S. consume alcohol, down from 65% in 2019. (The poll was not conducted in 2020 due to the pandemic.)

The poll had a margin of error of 5%, which suggests that alcohol consumers have not changed much. Going back to the results of the previous poll dating back to 1929, the percentage of adults consuming alcohol has varied between 55% and 71%.

As seen in the chart below, the 60% level is at the lower end of the range seen in the past 40 years.

Alcohol Consumption Remains Level While Trends Shift  - ln1

Survey respondents said they consumed on average 3.6 drinks per week in 2021 compared to 4 in 2019. Per capita consumption in the U.S. is 2.5 gallons.

Beer is still the most popular alcoholic beverage of choice for 39% of consumers, as seen in the chart below. Then wine was chosen by 31% and liquor by 27%.

However, in recent years liquor has gained as the beverage of choice. Among consumers aged 18 to 24, beer is preferred by 45% and liquor by 30%.

Among consumers aged 35 to 54, beer is preferred by 42% and liquor by 27%. Beer is preferred by 54% of men, followed by 28% for liquor and 15% for wine.

Wine is preferred by 49% of women, followed by 26% for liquor and 23% for beer.

Alcohol Consumption Remains Level While Trends Shift  - ln2

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.