RBC Capital Markets Managing Director Nik Modi believes the alcohol industry could see a boost from the expiring effects of “powerful but temporary forces” that affected LDA consumption. “The cohort of consumers who turned 21 between 2020 and 2022 did not have a normal entry into adult social life… What looked like a generational shift away from drinking was, in our view, largely a product of disrupted socialization patterns compounded by the most aggressive inflation cycle in a generation.”