Weekly Beverage Alcohol Recap | November 21, 2025

Regulation & PolicyFederal clampdown on intoxicating hemp cannabinoids sets up a major 2026 reset; FDA guidance due within 90 days.California launches a 2026 craft distillery DTC pilot, offering a key release valve for oversupply.Airports, airlines, and municipalities tighten alcohol service norms; litigation highlights labeling and pricing scrutiny.Market PerformanceU.S. spirits decelerate; Diageo expects ~–6% U.S. decline.Beer outlook worsens globally; craft continues to contract.Wine accelerates toward long-needed supply correction after a two-decade-low crush.Weekly U.S. scans: total bev alc down 4.5% YoY; non-alc beer +18%.Consumer BehaviorCaution dominates: essentials up, discretionary units down.On-premise responds to value—Texas Roadhouse, Chili’s outperform through pricing and operations.Gallup shows only 54% of adults drink; moderation and wellness shifts continue.Retail, Digital & DistributionPrivate label accelerates: projected $280B in store-brand sales; Aldi expansion and Kirkland scrutiny in spotlight.Provi surpasses $5B GMV, reducing admin time for reps and boosting compliance for chains.Gopuff raises $250M and returns to growth mode.Corporate Moves & Portfolio StrategyABI exploring up to $700M acquisition of BeatBox; “beyond beer” momentum builds.Tilray beverage +19% FY25; consolidation continues across beer and spirits.Non-alc brands like Liquid Death gain route-to-market muscle and cold-box share.Structural RisksSpirits exports drop sharply; inventories at multi-decade highs.Craft distillery count down 25% YoY; closures and liquidations increasing.Health-risk messaging gaining traction, raising long-term regulatory questions.