In this article, we are going to discuss the 20 largest publicly traded liquor companies in the US. If you’re also curious about which tobacco producers are leading the pack in the international market, here are the 16 Largest Tobacco Companies in the World by Market Cap.
Alcohol has been part and parcel of our everyday lives since time immemorial. Whether it’s a Sunday brunch, a Saturday night at the club, or a Friday night with a few co-workers, the opportunities to take a drink are endless and engrained in the fabric of many facets of society.
The Global Alcohol Industry:
In 2019, the global alcohol consumption, measured in liters of pure alcohol per person of 15 years of age or older, was 5.5 liters, which is a 4.7% relative decrease from 5.7 liters in 2010. As we mentioned in our article – 20 Most Consumed Alcohols in the World – the global alcoholic beverages market size was valued at $1.62 trillion in 2021 and is projected to reach $2 trillion by 2031, with a CAGR of 2.2% during the forecast period.
The market is likely to be driven by the increasing global young-adult demographic, coupled with high disposable income and consumer demand for premium/super-premium products. Globally, beer drives the market for alcoholic beverages. Regionally, North America and Asia-Pacific are expected to dominate the market during the forecast period.
The American Liquor Market:
The American liquor industry is overcoming economic headwinds to meet changing consumer preferences as it chips away at the dominance of beer. According to the Distilled Spirits Council of the United States, the spirits revenue market share grew from 28.7% in 2000 to 42.1% in 2022, while beer held a 41.9% market share that year. Thus, in 2022, the spirits industry surpassed beer in revenue for the first time ever. The trend continued in 2023 when the spirits market share again totaled more than 42%. The spirits supplier sales in the United States totaled $37.7 billion last year, while volumes rose 1.2% to 308.8 million 9-liter cases.
The rise to the top for spirit-makers is fueled in part by the resurgent cocktail culture, including the growing popularity of ready-to-drink concoctions, as well as strong growth in the tequila and American whiskey segments.
Record Year for American Spirits:
The U.S. spirits exports reached a record-high of $2.2 billion in 2023, up 8% compared to the previous year, according to an American Spirits Export Report released by the Distilled Spirits Council of the United States. American whiskey exports also increased by 9% over 2022 to reach a record $1.4 billion.
Exports are continuing to rebuild after plummeting from the devastating retaliatory tariffs on American spirits imposed by the E.U. and the U.K. These tariffs were suspended two years ago and as a result, American whiskey exports to the E.U. surged by more than 60%, climbing from $439 million in 2021 to $705 million in 2023. However, the European Union announced in December 2023 that it would continue the suspension of tariffs on American whiskeys in the steel and aluminum dispute for 15 months, until March 31st, 2025. If no agreement is reached by then, the E.U. will reimpose its tariff on American whiskeys at 50%, up from the previously imposed 25%.
With that said, here are the Top Publicly Traded Alcoholic Beverage Companies in USA.
Pixabay/Public Domain
Methodology:
To collect information for this article, we have referred to the Yahoo Finance and Google Finance databases, looking for the Largest Public Alcohol Companies in America. The following public companies have been ranked by their market capitalization, as of the writing of this article.
Note: We only included companies that trade on either NASDAQ or NYSE, so even though companies like Heineken and Pernod Ricard operate in the US, we have excluded them since they don’t trade on either of these two exchanges.
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20. LQR House Inc. (NASDAQ:LQR)
Market Cap: $4.6 million
The go-to alcohol marketing powerhouse, LQR House Inc. (NASDAQ:LQR) provides digital marketing and brand development services for the alcoholic beverage business in the United States. Headquartered in Florida, the company has massively increased its revenue in the last few years, from $315,290 in 2021 to $1.12 million last year.
The company’s sales growth continued also this year and LQR House Inc. (NASDAQ:LQR) announced a massive 260% YoY jump in revenue for the month of June 2024, marking a substantial rise in sales from $65,575 to $236,157.
19. Vintage Wine Estates, Inc. (NASDAQ:VWE)
Market Cap: $10.9 million
Vintage Wine Estates, Inc. (NASDAQ:VWE) is a family of wineries and wines whose singular focus is producing the finest quality wines and incredible customer experiences. The Nevada-based company had a dismal Q3 2024 ending March 31st 2024, when its revenue tumbled by just under 30% to $45.7 million.
The stock of Vintage Wine Estates, Inc. (NASDAQ:VWE) was held by 5 hedge funds in the Insider Monkey database at the end of Q1 2024, with a collective stake value of $768,000.
18. Fresh Vine Wine, Inc. (NYSE:VINE)
Market Cap: $11.32 million
Founded by Nina Dobrev and Julianne Hough, Fresh Vine Wine, Inc. (NYSE:VINE) produces and sells low-carb and low-calorie wines in the United States and Puerto Rico. The Minnesota-based company had a disappointing Q1 2024, after its revenue decreased by over 74% YoY to reach $104,568. Meanwhile, net loss also increased to over $1.24 million. Fresh Vine Wine, Inc. (NYSE:VINE) announced in January that it had executed a definitive merger agreement to combine with Notes Live, a live entertainment and hospitality company based in Colorado, in an all-stock transaction.
17. Splash Beverage Group, Inc. (NYSE:SBEV)
Market Cap: $14.4 million
Splash Beverage Group, Inc. (NYSE:SBEV) is an innovator in the beverage industry, with a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, and Pulpoloco sangria etc. The company made headlines in February after it announced the addition of Sea World Parks & Entertainment to its growing list of large venue customers. Also in February, Splash Beverage Group, Inc. (NYSE:SBEV) extended Copa di Vino’s retail sales presence after it was awarded new distribution within Terrible’s Convenience, the iconic retailer with a significant presence in Las Vegas.
16. Willamette Valley Vineyards, Inc. (NASDAQ:WVVI)
Market Cap: $19.66 million
Named after Oregon’s iconic Willamette Valley, Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) offers sustainably made classic Oregon Wines including Pinot Noir, Chardonnay, and many more. The company reported a 5.9% increase in revenue for its Q1 2024, with net loss also decreasing by 29.9%, primarily due to the higher prices of products sold in 2024.
Renaissance Technologies was the only hedge fund in the IM database that held stock of Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) in Q1 of 2024, with a stake value of $425,000.
15. Alto Ingredients, Inc. (NASDAQ:ALTO)
Market Cap: $111.11 million
Alto Ingredients, Inc. (NASDAQ:ALTO) produces specialty alcohols and essential ingredients focused on products for four key markets – Health, Home & Beauty; Food & Beverage; Essential Ingredients; and Renewable Fuels. The California-based company is a leading manufacturer of beverage-grade alcohol with low impurities used by customers to produce a variety of potable distilled spirits.
The share price of Alto Ingredients, Inc. (NASDAQ:ALTO) has fallen by 45.9% since the beginning of the year after the company had a dismal Q1 with a reported revenue of $240.63 million, a YoY decrease of over 23%.
14. SNDL Inc. (NASDAQ:SNDL)
Market Cap: $520.64 million
Next up in our list of the Largest Alcohol Companies is SNDL Inc. (NASDAQ:SNDL), the largest private-sector liquor and cannabis retailer in Canada. The company also operates as a licensed cannabis producer and stands as one of the country’s premier vertically integrated cannabis enterprises. SNDL has shown massive growth over the last few years, with its revenue skyrocketing from $60.9 million in 2020 to just over $909 million last year.
The stock of SNDL was held by 7 hedge funds at the end of Q1 2024 in the Insider Monkey database, with a collective stake value of $10.5 million. SNDL Inc. (NASDAQ:SNDL) was also included in our list of the Best Pot Stocks to Buy.
13. The Duckhorn Portolio, Inc. (NYSE:NAPA)
Market Cap: $995.54 million
Based in California, The Duckhorn Portfolio, Inc. (NYSE:NAPA) makes wines and calls itself a manufacturing company, agricultural company, and marketing company all rolled into one. With a portfolio of 10 high-quality brands, NAPA is a ‘one-stop luxury wine shop’ and the largest pure-play luxury wine company in the U.S. On the 30th of April 2024, The Duckhorn Portfolio, Inc. (NYSE:NAPA) announced the completion of its acquisition of Sonoma-Cutrer Vineyards, one of the largest and fastest-growing luxury Chardonnay brands in America, from the Brown-Forman Corporation.
12. Tilray Brands, Inc. (NASDAQ:TLRY)
Market Cap: $1.44 billion
Tilray Brands, Inc. (NASDAQ:TLRY) ranks 12th in our list of the Largest Alcohol Companies in USA. The craft beer and cannabis company that was among the first to be licensed for medical cannabis in Canada announced last year that it had agreed to acquire eight beer and beverage brands from Anheuser-Busch InBev for an undisclosed amount. As a result, TLRY is now the 5th largest craft beer business in the U.S. with a 4.5% market share.
However, the core business of Tilray Brands, Inc. (NASDAQ:TLRY) is cannabis and it boasts the number one market share in Canada, the leading cannabis market share by revenue in Germany, and it also distributes medical cannabis in 20 countries around the world.
11. MGP Ingredients, Inc. (NASDAQ:MGPI)
Market Cap: $1.55 billion
If you’re a whiskey lover, you’ve almost certainly tried the offerings of MGP Ingredients, Inc. (NASDAQ:MGPI), knowingly or not. This Indiana distillery has fueled the modern American whiskey boom by supplying distillers like High West, Smooth Ambler, WhistlePig, Angel’s Envy, Bulleit, and many others.
The company has boasted a massive increase in earnings over the last few years. In 2019, MGPI declared revenue of $362.75 million, while by 2023, the company’s revenue had jumped up to $836.52 million – an increase of over 130%. The stock of MGP Ingredients, Inc. (NASDAQ:MGPI) was held by 22 hedge funds at the end of Q1 2024 in the Insider Monkey database, with a collective stake value of over $112 million.
10. Compañía Cervecerías Unidas S.A. (NYSE:CCU)
Market Cap: $2.14 billion
Compañía Cervecerías Unidas S.A. (NYSE:CCU) is a beverage company that operates in Chile, Peru, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. The company is one of the biggest brewers in its home country of Chile.
One of the Largest Beer Companies in the World, Compañía Cervecerías Unidas S.A. (NYSE:CCU) announced a revenue of over $746 million for its Q1 of 2024, a YoY increase of 1.9%. The beverage maker’s net income, however, decreased by around 10.6%.
9. The Boston Beer Company, Inc. (NYSE:SAM)
Market Cap: $3.5 billion
The Boston Beer Company, Inc. (NYSE:SAM), one of the largest brewing companies in America, is best known for its line of all-malt beers under the brand name Samuel Adams. The company reported a revenue of approximately $426 million in Q1 2024, an increase of 3.9% from the previous year. It also earned a net profit of $12.6 million versus a net loss of $8.96 million the year before.
Among the 22 hedge fund holders of The Boston Beer Company, Inc. (NYSE:SAM) in Q1 2024, Marshall Wace LLP held the largest stake of 137,515 shares, valued at $41.86 million.
8. Molson Coors Beverage Company (NYSE:TAP)
Market Cap: $10.05 billion
Molson Coors Beverage Company (NYSE:TAP) is a multinational beverage and brewing company that engages in the production, marketing, and sale of beer, malt beverage products, and now also spirits across multiple regions including the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
Molson Coors Beverage Company (NYSE:TAP) announced a new $2 billion share buyback plan in late 2023 that is expected to be completed over the next 5 years. With a market cap of just over $10 billion as of the writing of this article, a $2 billion buyback is set to significantly boost the stock’s EPS.
7. Brown-Forman Corporation (NYSE:BF-B)
Market Cap: $20.06 billion
The Brown-Forman Corporation (NYSE:BF-B) ranks 7th in our list of the Largest Liquor Companies in the US. The Kentucky-based company engages in the production, distillation, bottling, import, export, marketing, and sale of a wide range of alcoholic beverages. This includes spirits, wines, whiskeys, flavored liqueurs based on whiskey, pre-mixed and pourable products, cocktails, vodkas, tequilas, champagnes, brandy, Bourbons, and liqueurs.
The Jack Daniel’s owner reported mixed Q4 (ending 30th of April 2024) results as its earnings per share rose 31% YoY to 56 cents and beat the Zacks Consensus Estimate of 42 cents. However, the company’s revenue of $964 million was around 7.8% less than the same quarter last year and missed the consensus estimate of $1.03 billion.
Brown-Forman Corporation (NYSE:BF-B) is included in our list of the Best Alcohol Stocks to Buy Now.
6. Ambev S.A. (NYSE:ABEV)
Market Cap: $32.45 billion
Ambev S.A. (NYSE:ABEV), formally Companhia de Bebidas das Américas, is a Brazilian brewing company that has now merged with Anheuser-Busch InBev. It offers beer under the brand names Skol, Brahma, Antarctica, Bohemia, Original, Quilmes, Paceña, Pilsen, Labatt Blue, Alexander Keith’s, Kokanee, and Guaraná Antarctica.
Ambev reported a revenue of around $20.27 billion in Q1 2024, 1.2% less than the same quarter last year. However, the company’s net income remained the same and its net revenue per hectoliter actually grew 0.9% versus last year. With a market cap of over $32 billion, Ambev S.A. (NYSE:ABEV) is placed among the Most Valuable Alcohol Companies in the World.
5. Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)
Market Cap: $35.9 billion
Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX), doing business as FEMSA, is a Mexican multinational beverage and retail company headquartered in Monterrey, Mexico. The company picked up a 20% stake in Heineken in 2010 but trimmed it to 14.8% in 2017. Then it was again announced in May 2023 that FEMSA sold about $3.63 billion of its shares in the Heineken Group, divesting its stake in the Dutch brewer as it plans to focus on its main businesses.
Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) shares were held by 29 hedge funds at the end of Q1 2024 in the Insider Monkey database, with First Eagle Investment Management holding the largest stake of about 9.7 million shares, valued at over $1.26 billion.
