MillerCoors Looking to Tap into Nostalgia Business and Wellness Trends

July 11, 2018

By Christian Smith

You may find yourself wondering what ice-cold beer to order at your next happy hour, but MillerCoors is already planning its new brews for 2021.

"We're always years in advance," said the company's Senior Manager of Innovations, Jason Pratt, in an interview on Cheddar Wednesday.

While Pratt wouldn't go into specifics, he did say that the company is eyeing potential opportunity outside of the traditional beer space. MillerCoors recently partnered with artisanal tea company Clearly Kombucha.

"We're really excited about that and what possibilities that might open up for us," Pratt said. "Beer can be so many different things, and I think that's what makes it exciting."

When it comes to the beers that people are throwing back right now, Pratt says IPAs and "easier-to-drink beers" like American lagers and pilsners are leading sales growth.

The rise in popularity of those beers versus others has led to a rapid increase in American producers. In the past five years the number of breweries in the U.S. rose from less than 2,500 to more than 6,300, according to the Brewer's Association. That competition, in Pratt's opinion, is great for the beer industry.

"We honestly welcome the competition," Pratt said. "It's great to see because it means the industry is getting healthy, and people are really starting to appreciate beer."

For the full segment, click here.