No, Millennials Are Not Killing Craft Beer
There might be a lot of things to cast aspersions on millennials about, but killing the beer industry doesn't seem to be one of them. Despite a recent Goldman Sachs (NYSE: GS) report blaming the millennials for falling beer sales, the industry as a whole still looks healthy. It's only mass produced beers that are really hurting; craft beer is doing just fine.
A cursory glance might not suggest that. The craft beer industry trade group Brewers Association said craft beer sales grew only 6% last year after a decade or so worth of double-digit growth. Leading craft brewer Boston Beer (NYSE: SAM) continues to post declining depletions -- or sales to distributors and retailers (a proxy for consumer demand) -- and it sold 1,000 fewer barrels year-to-date than it did last year. It's only been bolstered by tiny, niche products like hard seltzer, that could very well turn into flash-in-the-pan fads like hard soda.
Image source: Boston Beer.
Source: Fool.com
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