Published on 8 Nov 2022 on Insider Monkey via Yahoo Finance

10 Best Alcohol Stocks To Buy Heading Into 2023

In this article, we discuss 10 best alcohol stocks to buy heading into 2023. If you want to see more stocks in this selection, check out 5 Best Alcohol Stocks To Buy Heading Into 2023.

Despite the threat of recession, investments in the alcohol sector have shown resilience. CNBC reported in July 2022 that with consumers staying home during the pandemic, a lot of them moved to new, more expensive alcohol brands and increased their consumption of snacks as well. Consumers are also habitual of buying snacks and spirits online still. During the pandemic, the largest boom in the alcohol sector came in the form of pre-mixed and ready-to-drink cocktails and drinks.

Beer is taking up less of the United States alcohol market as new drink categories are introduced in the mix, including ready-to-drink cocktails. Even legacy alcohol firms have broadened their portfolios outside of their primary beer offerings, looking into innovative ways to penetrate into the spirits market. For example, Anheuser-Busch InBev SA/NV (NYSE:BUD) has diversified its portfolio to provide hard seltzers, canned wine, and canned cocktails. Similarly, Molson Coors Beverage Company (NYSE:TAP) rebranded itself and deleted “Brewing Co” from its name in 2019 to indicate a foray into the spirits category.