Liquor Beats Beer for First Time Ever, but This Brewer Is the Best Buy Now
The popularity of hard alcohol is on a 13-year run higher, and in 2022, the market share of spirits among consumers surpassed that of beer for the first time ever. Driven by growing demand for tequila and American whiskey, liquor's market share hit 42.1% last year, narrowly eclipsing the 41.9% share held by beer, according to the Distilled Spirits Council of the United States.
Yet, the reversal of fortune for beer stocks has been brewing for at least a decade as beer sales declined sharply over that time. Top brewers like Anheuser-Busch In Bev (NYSE: BUD) and Boston Beer (NYSE: SAM) were forced to branch out into new categories, including hard seltzer, hard tea, hard coffee, and even kombucha to try to make up the difference.
Source Fool.com
