Health conscious millennials are spending less money on alcohol, so brands are now marketing "wellness" drinks in an effort to win back market share with its younger demographic, according to Business Insider.
"From my perspective, millennials certainly seem to embrace the concept that 'thy body is thy temple,'" Elliott Coon of GEM&BOLT, a new-age brand, told B.I.
Coon considers the younger drinkers' shift "conscious consumerism," according to the report.
It is not only beer on a health kick either. It has extended to winemakers, per B.I.
The data on millennials' alcohol spending cuts with respect to baby boomers and Generation X were courtesy of a Nerdwallet study from the 2017 Bureau of Labor Statistics' Consumer Expenditure Survey, according to the report.
The cuts were most notable with beer, as millennials have moved more toward wine and spirits, forcing the beer industry to adjust, according to the study.
"Welcome to the age of wellness beer, in which craft brews can be tools for athletic recovery, self-care and all-around physical optimization," Esther Mobley wrote in April for the San Francisco Chronicle.
Well some studies in the past have suggested moderation in alcohol consumption can have benefits, more studies are suggesting there is no safe level, much less health benefits, per the report.
"The widely held view of the health benefits of alcohol needs revising, particularly as improved methods and analyses continue to shed light on how much alcohol contributes to global death and disability," according to Max Griswold in his 2018 study published in The Lancet.
© 2023 Newsmax. All rights reserved.