"Non-alcoholic beer is a key opportunity," asserts AB InBev

INSIGHT – Everyone noted that the brewing giant had, for the first time since 2023, sold more beer over a single quarter. However, AB InBev's results reveal a profound transformation in consumption patterns.

© GONDOLA FOODSERVICE

“C heers to beer!” Everyone saw this festive mood from the CEO of AB InBev, Michel Doukeris, during the presentation of the quarterly results last Tuesday. One must grant him this natural enthusiasm in the face of the first increase in sales after a long period of decline. Revenue ($15.27 billion), underlying profit ($1.92 billion), and volumes (+0.8%) all exceeded market expectations.

However, other statements from the CEO deserve attention because, while they reveal a profound shift in the business model of the world's leading brewer, they also reflect evolving consumer habits. "Led by the growth of Corona Cero globally and Michelob ULTRA Zero in the U.S., our non-alcohol beer portfolio outperformed the industry and delivered a 27% revenue increase," Michel Doukeris explained during the discussion with analysts.

He then added a significant detail, evoking the end of category cannibalization. “With an estimated 60% of the volume coming from new occasions and new consumers, we believe non-alcoholic beer is a key opportunity to develop the category and drive incremental volume growth.” If people who didn't previously drink AB InBev beverages are now switching to 0% beer for new occasions, such as after sports, on nights out, or during business lunches, it means that non-alcoholic beer isn't just shifting customers from one type of beer to another. This is growth that isn't harming the traditional beer market. The overall market is expanding instead of fragmenting.

And the CEO insisted: “The non-alcohol as a new avenue for growth, a strong growth across all these markets”

---

🟧 Alcohol-free / Alcohol in Foodservice 15.6% vs 18.4%

"It goes without saying that, within the various market segments, the categories vary enormously in terms of importance. I am pleased to see, however, that far more non-alcoholic drinks are sold in convenience stores than alcoholic ones. When we go to a restaurant, we clearly prefer alcoholic drinks to non-alcoholic ones" - Amaury Marescaux, CEO of Gondola Foodservice.

---

In the United States, AB InBev already holds the top spot in the non-alcoholic beer market, with its portfolio gaining market share and registering revenue growth of approximately 20%. In Mexico, the group has strengthened its leading position in the sector, with double-digit volume growth driven by Corona Cero and Modelo Cero. In Brazil, the company also believes it "dominates the non-alcoholic industry," with volumes up by more than 10%.

In Europe, after successfully activating the Milano Cortina 2026 Winter Olympics, with Corona and Corona Cero accounting for 60% of all beverages sold at the Olympic venues, the Belgian-Brazilian giant's non-alcoholic portfolio has reportedly gained market share in five of its six key markets. This helps dispel the stigma of "punishment beer." Beer is becoming compatible with athletic performance, opening up sponsorship deals previously denied to alcohol companies.

This allows AB InBev to now be presented as the current "world leader in non-alcoholic beer" in terms of value, Nielsen points out. Moreover, the brewer is keeping a close eye on the shift towards health and wellness. Its Balanced Choices portfolio, comprised of low-carb, low-calorie, sugar-free, gluten-free, and alcohol-free beer brands, saw a 17% increase. AB InBev no longer sees itself solely as a brewer, but as a global beverage company aligned with current trends. It is leveraging its massive distribution network to secure the non-alcoholic market before niche players can establish themselves.