Yes, except in a few extreme Protestant denominations.
Jesus told them, "Fill the jars with water." So they filled them to the brim. Then he told them, "Draw some out now and take it to the headwaiter." So they took it. And when the headwaiter tasted the water that had become wine, ... (John 2:7-9)
Wine is used throughout both the Old and New Testaments. The first recorded miracle of Jesus was to turn water into wine at the wedding in Cana.
It is true that we should not become drunk but used in moderation, wine is a biblically acceptable beverage.
Go, eat your bread with joy and drink your wine with a merry heart, because it is now that God favors your works. (Ecclesiastes 9:7)
Stop drinking only water, but have a little wine for the sake of your stomach and your frequent illnesses. (1 Timothy 5:23)
Wine and music delight the soul. (Sirach 40:20)
WWJD? What would Jesus do? Jesus had a cup of wine with dinner. In fact, because of this practice, some teetotalers accused him of being a drunkard. See Matthew 11:19 and Luke 7:34.
If some people wish to totally forego alcohol to eliminate the temptation to over indulge, that is fine. However, I do not think they should force that unbiblical practice onto others.
By the way, for those who argue that Jesus and other people in the Bible only drank fruit juice, a process that would stop grape juice from fermenting into wine was not even invented until 1869 by Dr Thomas B Welch when he invented Welch's Unfermented Wine which was renamed later to Welch's Grape Juice.
http://www.welchs.com/about-welchs/history
With love in Christ.