Baby boomers are cutting back most on alcohol, with 71 per cent drinking in the past six months — down 2 points and the lowest rate of any generation. By contrast, 74 per cent of legal‑age Gen Z reported drinking, up from 66 per cent three years ago.

The IWSR survey of more than 32,000 people across the 15 largest alcohol markets found average drinks per occasion fell to 3.9 drinks from 4.4 in 2024‑25. President Marten Lodewijks said the moderation trend is structural, debunking the narrative that Gen Z drives the decline.

Spirits groups Diageo, Pernod Ricard and Brown‑Forman have seen shares languish, with the drop attributed to lifestyle shifts rather than inflation alone. Boomers now drink the fewest occasions at 2.6 drinks each. Meanwhile, emerging markets show growth: high‑income urban drinkers in India rose to 77 per cent and in China to 89 per cent.