We recently compiled a list of the . In this article, we are going to take a look at where The Duckhorn Portfolio, Inc. (NYSE:NAPA) stands against the other spirits stocks.
With 2024 heading to a close, the alcoholic beverages industry is also changing. Data from the Distilled Spirits Council (DSC) shows that spirits continue to gain over beer, which has traditionally been the go-to alcoholic beverage of choice. In 2023, spirits held more than 42% of the total market to mark a 13 percentage point gain since 2000.
These shifts are coming at a time when Americans' attitudes relating to alcohol are significantly changing. For instance, a very detailed from Gallup asked participants a plethora of questions surrounding their drinking habits and their perceptions of alcohol's role in society. When compared to participants surveyed in 2001, when 22% of participants viewed alcohol as good for health, this figure dropped by more than half in 2023 and sat a two decade low of 10%.
Similarly, confirming the DSC's data, while 47% of participants had drank beer the most often in 1992, not only did this percentage drop to 37% in 2023, but the figures for wine and liquor jumped to 29% and 31% from 27% and 21%, respectively. 29% drank no alcohol in the past week in 1987, while 33% reported the same in 2023. Other research also shows that while 72% of 18 to 34 year olds had reported having a drink in the past year between 2001 and 2023, this dropped to 62% as of 2024.
This suggests that the tr.