Anheuser-Busch InBev and Molson Coors Beverage are set to gain market share from craft beer makers in the United States this year as cost-conscious consumers are opting for cheaper six-packs, according to analysts and industry experts.
are set to gain market share from craft beer makers in the United States this year as cost-conscious consumers are opting for cheaper six-packs, according to analysts and industry experts.
Analysts polled by Refinitiv expect annual revenue to grow about 6% for Molson Coors and 7.5% for AB InBev in 2023, while craft beer maker Boston Beer CoOverall U.S. beer sales grew 1.8% in the 12 weeks ended May 20, according to data from research firms NielsenIQ and TD Cowen.Craft beers are more expensive and made from higher-quality ingredients, and have a consumer base that rarely shifts to cheaper brews.
Meanwhile, AB InBev's market share in dollar terms rose to 40.4% in the first four months of 2023 in overall U.S. beer sales, up from 38.3% at the same time last year., maker of Corona and Modelo, was at 9.4%, compared with 23% and 8.8% a year earlier, respectively.While AB InBev and Molson Coors bought brewers to expand into the craft brewing segment starting in 2011, the companies have seen little success and have lost market share in the category.
Giants such as Molson Coors and AB InBev are insulated somewhat from economic downturns by their diversified portfolio that allows them to sell not just premium brews but also cheaper varieties with low alcohol content like Bud Light and Miller Lite, Reid said.
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