NEW YORK - Generation Y is making its mark on the alcohol beverages market and that€™s going to continue, Marketing Daily reports. The new Nielsen€™s Millennial Study found that Millennials will be 40 percent of all American adults age 21 and older by 2021.

This will make comprehending the buying preferences and tastes of this group essential to any marketer, especially those in the alcohol industry, said Danny Brager, vice president and group client director for beverage alcohol, and Jim Greco, vice president and region manager for beverage alcohol. Both men are with Nielsen and conducted the study.

One big difference is that Generation Y is likes to explore more new and varied alcohol products, as compared with the general population. Most of Millennials still have a preference for beer, they are buying more liquor and wine than older generations did at the same age.

"Millennials€™ tendency to experiment and try new things will keep them versatile, skipping among a variety of alcoholic beverages," wrote Brager and Greco in the study€™s highlights. For instance, Generation Y tends to purchase local-sourced products.

"Understanding how Millennials' product preferences may change as they age, while at the same time recognizing the alcohol beverage buying habits of younger, ethnic consumers will be essential for alcohol beverage companies to future-proof their portfolios," the pair concluded.

Wine makers are taking note of these changes by developing campaigns to capture the interest of Millennials.