It’s no secret Americans love their wine. But, what might be a revelation is Millennials driving the wine business more than any other generational group.
Why is that? A variety of factors, ranging from availability and quality, to drinkability and price, are convincing more and more Millennials to choose wine over other alcoholic beverages. Millennials represent a quarter of the U.S. population and, according to many experts, the future of the wine consumption market.
As reported by Katie Murar of the Medill News Service, a recent study by the Wine Market Council found that 42 percent of all wine drunk in the U.S. in 2015 was by Millennials, 13 percent higher than 2014. The report found that Millennials are also apt to choose from a wider variety of wines than other generations. Among their favorites: Malbec, Moscato, Pinot Noir and Sauvignon Blanc.
Transformation of the Industry
An equally in-depth Market Watch piece on Millennials driving the wine business and its growth in many areas reinforces what is transforming the industry. Although Baby Boomers still command 50 percent of the market, Millennials are the overall bigger group and making bigger gains in terms of wine consumption. They also drink more wine at any one sitting, averaging 3.1 glasses.