"It's true the spirits industry is facing challenges," says Distilled Spirits Council of the United States ( DISCU) President and CEO Chris Swonger. "We've seen closings of some distilleries - the New York Distillers Guild reported that there were 20 distilleries in New York that have closed in the past few years. Sales numbers have been relatively flat or in slight decline. But, in most of the drinks categories, spirits seem to be holding their own."
The Wine & Spirits Wholesalers of America suggested U.S. spirits sales will continue to decline in the first half of next year, and the industry as a whole faces "significant headwinds." The reasons include the end of Covid-era binging, premiumization of spirits reaching a peak and a noticeable drop in drinking among legal-age Gen Z consumers.
Oversaturation is real; there's literally a new brand of tequila launched every other day. And some categories, like Cognac, are enduring such major declines that a drop of 12% for U.S. sales of Rémmy Martin is uniquely being labeled as 'encouraging.'
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