Wine Losing Share to Spirits Among Younger Drinkers, According to Annual SVB Report
The relationship between millennials and wine has been a hot button topic for years, with craft beer, hard seltzer, and distilled spirits vying for market share. The Silicon Valley Bank’s recently published 2022 State of the Wine Industry report shows the scale of the issue, using industry-wide surveys and data, sourced from reputable organizations such as the Wine Institute. In 2021, Americans did not consume more wine than in the previous year.