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)
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