Beer is less popular with young Americans than it used to be:
But beer is still dominant globally:
According to a 2011 working paper by the American Association of Wine Economists, the global volume of beer in the 1960s was twice that of wine. As of 2005, beer consumption (153 billion liters) was six times that of wine (24 billion liters). In financial sums, beer is vastly ahead; the authors state that the beer industry accounts for an estimated 130 billion U.S. dollars, while the wine industry brings in around 65 billion.
The increase in beer production is in part due to its growing popularity in China. As of 2011, China, with its enormous population, consumed 20 percent of all beer in the world and replaced the U.S. as the largest beer market.