LOUISVILLE, Ky.—Producers of spirits have new bragging rights in the age-old whiskey vs. beer barroom debate.
After years of steady growth, it marked the first time that spirit supplier revenues have surpassed beer—but just barely, the spirit industry group said. Beer holds a 41.9 percent market share, it said. “It’s interesting to hear liquor companies boast about making money hand-over-fist while simultaneously going state-to-state hunting for more tax carveouts from state legislatures,” Crawford said in a statement.
Watson cited data showing that liquor has become 20 percent cheaper relative to beer in recent decades.Another factor is advertising and marketing. Watson pointed to the success of spirits in its outreach to women. Steinman said distilled spirits now advertise freely, something they didn’t do generations ago.
Gregory Mergner, the general manager of the distillery’s cocktail gallery, said he didn’t anticipate spirits rivaling or surpassing beer for market share. Within the spirit sector, vodka maintained its status as the top revenue producer at $7.2 billion, though sales were flat in 2022, the group said.