The King of Beers has lost its crown.
Budweiser has held a place in America’s top three most popular beers since at least the 1970s, according to data from Beer Marketer’s Insights. Until 2001, it carried the top spot, at which time it was knocked out by its lighter cousin, Bud Light. And in 2011, Coors Light overtook Budweiser as the number two most popular beer.
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For the last seven years, despite its falling status, Budweiser had remained firmly in the top three. Now even that status has been lost—Miller Lite has overtaken it as well, relegating Budweiser to fourth place.
While the picture is particularly bleak for Budweiser (BUD), the top three beers have fallen on tough times as well. The sales dropped for all of them in 2017, due in no small part to the rise of craft beers.
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At one time, the top ten beer brands comprised close to 66% of the industry, reports CNN. In recent years, this has shrunk to 50% as more and more drinkers turn to craft beer. However, signs point to slowing growth for the craft beer industry as well. Shipments fell at six of the seven top craft beer brands in 2017, according to Beer Marketer’s Insights.
Looks like millennials aren’t big beer drinkers.