Why the Wine Industry Is Dying and the Impact on Business

Video Description

The wine industry is in freefall, and it’s not looking good for small businesses. 🍷 In 2021, Americans were drinking 3.16 gallons of wine per capita. By 2023? That number dropped 15%—the equivalent of 3.5 billion fewer bottles consumed. So, what’s going on? ------------------------------------------------------------------ ► Join 44,000+ business minds who read my newsletter: http://bit.ly/SmallBusinessMBA ► Deep dives on businesses for sale: https://www.youtube.com/@AcquisitionsAnonymousPodcast ► Follow me on Twitter/X: https://twitter.com/girdley ------------------------------------------------------------------ In this video, we break down: - Why Baby Boomers carried the wine industry for decades (and why they can’t anymore) - How Gen Z is shaking up alcohol consumption trends (spoiler: wine isn’t “cool”) - The competition from THC, mocktails, and even flavored water brands like Liquid Death - What this means for restaurants, vineyard owners, and entrepreneurs If you’re in the wine business—or just curious about how shifting generational habits affect entire industries—this video is for you. 👋 Hey, I’m Michael—a 20+ year CEO who’s started multiple companies, hired hundreds of people, and loves breaking down business trends for current and future entrepreneurs. Sources: https://www.statista.com/statistics/233734/average-wine-consuimption-of-the-us-per-resident/?utm_source=chatgpt.com https://nypost.com/2024/09/05/lifestyle/is-gen-z-killing-the-wine-industry/?utm_source=chatgpt.com https://www.sfchronicle.com/food/wine/article/anti-alcohol-dietary-guidelines-19595032.php https://www.axios.com/2024/11/02/wine-overcapacity-production-decline-drinking https://www.theiwsr.com/whats-driving-wines-structural-decline/ https://www.theiwsr.com/global-beverage-alcohol-market-set-for-moderate-recovery-in-2025-while-challenges-persist-in-2024/ https://norcalpublicmedia.org/2024020894564/news-feed/wine-consumption-is-declining-so-what-s-the-wine-industry-doing-about-it https://www.grocerydive.com/news/wine-category-sales-decline-2024-chardonnay-wswa-alcohol/729991/ https://www.winebusiness.com/news/article/284711