Beer, Wine and Spirits: 2026 Beer Insights Spring Conference

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Beer, Wine and Spirits: 2026 Beer Insights Spring Conference

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Beer, Wine and Spirits

2026 Beer Insights Spring Conference

Industry Overview

Takeaways from the Beer Marketer’s Insights Conference 04 June 2026

We attended the Beer Marketer’s Insights Spring Conference in Chicago. We would Equity

describe the overall tone as cautious given the recent slowdown in beer consumption United States

trends, a challenged consumer backdrop, and increasing competition from RTD spirits Beer, Wine and Spirits

and non‑alcoholic offerings. Below we highlight key takeaways. Peter T. Galbo, CFA

Research Analyst

Improving 1Q trends reverse sharply in 2Q BofAS+1 646 743 0175

Beer consumption in 1Q26 declined -1.6% YoY, a meaningful improvement versus the 5- peter.galbo@bofa.com

year CAGR decline of -3.1%, while shipments were weaker at -3.0% YoY. The divergence Christian Junquera

initially supported the view that shipments could benefit as the year progressed. ResearchBofAS Analyst

However, trends have deteriorated meaningfully in 2Q, with NielsenIQ data showing beer +1 646 855 5195

christian.junquera@bofa.com

consumption down -5.5% YoY through mid-May (a 260bps deceleration vs. 1Q),

suggesting earlier optimism around shipments is fading. Beer Marketer’s Insights team

and a majority of industry speakers attribute the deceleration to higher gas prices

pressuring disposable income. On volume share, STZ and ABI remain clear leaders YTD,

gaining +63bps and +30bps, respectively, while TAP has lost -54bps. Stepping back, STZ: Constellation

longer term industry trends remain challenging, with 2025 shipments at 183mm barrels,

ABI: AB InBev

the lowest level in 36 years. Over the past decade, the competitive landscape has shifted