Episode summary
How Athletic Brewing Sells Beer for a Post-Alcohol Generation | WSJ’s Bold Names | WSJ's Bold Names
The Journal
· · Hosts: Christopher Mims, Tim Higgins · Guests: Bill Shufelt
Summary
Bill Shufelt argues that non-alcoholic beer is no longer a niche novelty but a fast-growing category built around changing health habits, socializing patterns, and better product quality. He says Athletic Brewing started with the insight that people are not drinking alcohol most of the time they are awake, and that the market needed a full reimagination in both product and marketing.
He says Athletic now holds 52% share of the non-alcoholic craft beer category, which has grown from about 0.3% of the U.S. beer market to 2%, while national retailers increasingly see non-alcoholic beer reaching 4% to 6% of beer sales and even 20% in one chain. Shufelt attributes the rise to Gen Z and millennial moderation, broader health-and-wellness trends, and the fact that Athletic can bring in new occasions rather than just steal volume from traditional beer.
He also argues that Athletic’s early bet on owned manufacturing has helped it withstand COVID and tariffs better than many peers. Looking ahead, he sees non-alcoholic beer becoming a major long-term beverage trend, combining the flavor people want with the lighter nutrition profile consumers are now prioritizing.
Key takeaways
- Shufelt says Athletic Brewing has 52% share of the non-alcoholic craft beer category and outsells the rest of the category combined.
- He says the category has grown from about 0.3% of U.S. beer sales to 2%, with some retailers now getting 4% to 6% of beer sales from non-alcoholic beer.
- Shufelt credits the company’s growth to changing moderation habits, health concerns, and younger consumers who do not carry the stigma around non-alcoholic beer.
- He says Athletic’s decision to own manufacturing and keep a domestic supply chain has helped it navigate COVID and tariff pressure.
- Shufelt expects non-alcoholic beer to become a large, durable trend because it combines light beer’s nutrition profile with stronger flavor.
- He says Athletic is driving category growth by reaching new consumers and new occasions rather than simply replacing existing beer purchases.
Notable quotes
“there was a unmet need in the world. You know, I was evidence of that”
“we were one of the smallest of the nation's brewers when we launched in 20 2017 we were founded. 2018, we launched”
“Athletic Brewing is actually 52% share of that category. So, we outsell the whole rest combined”
“moderation was totally inaccessible 10 years ago. You couldn't go to a bar and restaurant and get a great delicious socially acceptable beverage”
“we are like pure industry growth for both the off- premise and on premise”
How the episode opens
It was just so obvious to me that there was a unmet need in the world. You know, I was evidence of that. I started to voice that to my wife and friends. — So, you were like, I want beer for breakfast, lunch, and dinner. How can we make this happen?
Yeah. This week on Bold Names, we've got Bill Shufelt, the CEO and the co-founder of Athletic Brewing. For those of you who don't know, Athletic is a non-alcoholic beer maker, which makes my 10 a.m.
beer drinking that much more respectable. For the record, I already respected your 10 a.m. beer drinking.
Bill is going to talk to us about Gen Z and their drinking habits, or lack thereof. He's going to talk about the future of the whole non-alcoholic brewing industry, and he's going to talk to us about where his company in particular is going.
Bill, welcome to the show. When you got into this almost a decade ago, the market for non-alcoholic beer was very small. It was less than 1% of the overall American beer market. Who did you consider your competition back then?
The funny thing is I almost never thought about non-alcoholic beer until I was in the business of non-alcoholic beer almost. I loved good beer, good food, socializing with colleagues and friends and family and never ever thought about not drinking really or needing non-alcoholic drinks. And I assume a lot of people didn't.
But as I was turning 30, about to get married, taking my career, my health, my sleep, envisioning myself as a future parent, all these things kind of laded up to less drinking. And the category really needed a whole reimagination on both product and marketing. So I I would actually say you could almost totally restart the clock on the category starting in 2018.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- non-alcoholic beer
- health and wellness trends
- presidential tariffs
- beer industry competition
- marketing strategy
Companies and tickers mentioned
- Athletic Brewing
- Heineken
- Guinness
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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