Dr. Tom Shellhammer

If we hunt for yeast that don't metabolize maltose, then we get a very small fermentation that doesn't bring the alcohol level above 0.5, which is kind of like a threshold for low alcohol fermentation.

And what really successful brands are doing are blending these different approaches.

But some brands are doing great with this.

Look at Guinness Zero.

It's just taken off.

It's way outperformed what they thought when they first started this.

And that's on a big scale.

We've got smaller brewers like Deschutes.

A big part of their brand now is their non-alcoholic line.

You have Athletic.

It's a whole brewery that is just around non-alcoholic beer.

And that brewery itself is like the fifth largest brand of craft beer.

And it's interesting.

And it's the one that's growing.

And like many breweries and wineries, everything's kind of in a declining stage right now because of...

The demographics of young drinkers kind of moving away from alcohol, the discussions we've had around health, a focus on lifestyle changes, people wanting to either not have as much calorific intake and maybe not as much in inebriation or intoxication.

So that's driving this interest in the non-alcoholic space.