Young consumers’ shift to wine and spirits is biting into beer companies’ bottom lines.

Young consumers’ shift to wine and spirits is biting into beer companies’ bottom lines. U.S. beer volume was “sharply lower” for the first quarter of 2018 year-over-year for three major brewing companies: Molson Coors Brewing Co., Anheuser-Busch InBev SA, and Heineken NV. Craft beer sales are stalling out too as the market becomes oversaturated. According to AB InBev, beer consumption among 21-27-year-olds has dropped from 67% in 2006 to 43% in 2016. Major breweries are fighting the trend by appealing to La Croix-loving young consumers with new products. (WSJ)