The study released at the end of June was carried out to assess just how safe light drinking was and if there was a correlation between the number of drinks consumed and the risk of cancer or death.
However the researchers warned that the findings should not be taken to support a protective effect of light drinking, but could be used to inform public health guidelines.
But New Zealand Alcohol Beverages Council executive director Nick Leggett said the study showed that light to moderate drinking combined with a healthy lifestyle had nothing to fear.
"While everyone is in agreement that heavy drinking or binge drinking is risky behaviour for anyone's health and wellbeing, studies like this emphasise that the light-to-moderate drinking behaviour favoured by most New Zealanders can have a positive health impact," Leggett said.
He said the study put into question arguments from anti-alcohol groups that there was no safe level.
The study analysed questionnaire data from 100,000 people from the US Prostate, Lung, Colorectal, Ovarian Cancer Screening Trial over 20 years and tracked lifetime alcohol consumption taking into account both mortality and cancer.