Carlsberg released its 2020 financial statements which found millennials are drinking less beer.

“All of the top beer brands saw their volume and value on-trade sales drop due to the impact of the COVID-19 pandemic,” said Ryan Whittaker, Consumer Analyst at GlobalData, a leading data and analytics company. “Brewers have had to adapt to unprecedented market conditions and one area of success is Carlsberg’s low-ABV or alcohol-free ‘nolo’ brands, which are notable for 11 percent growth as consumers continue to moderate their alcohol intake. Increased health consciousness, which includes both physical and mental health concerns, is causing many to reduce their alcohol intake, and the pandemic has brought all of this to the fore.”

Research according to GlobalData found that 28 percent of global consumers claim to be buying less beer during the pandemic and approximately 27 epercent of consumers say that they are extremely concerned about their physical health.

“What’s interesting is that these trends correlate with age, with millennials being both the most extremely concerned about their health and most likely to be buying less beer than before the pandemic,” said Whittaker. “This group is also the largest generation in the global workforce, with disposable cash and a famous fondness for craft and, more recently, nolo beers. Nolo beers make for a good alternative to alcoholic beers, and many consumers opt for substitution rather than outright avoidance.”

Carlsberg’s latest results suggest that nolo beers are going to continue to grow growth in 2021, well ahead of other categories.