In this article, we are going to discuss the largest publicly traded liquor company in the US. If you’re also curious about which other alcohol producers came close, here are the 20 Largest Publicly Traded Liquor Companies in the US.
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%.
A close-up of bottles of whisky and other alcoholic beverages from a winery.
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.
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1. Anheuser-Busch InBev Sa/NV (NYSE:BUD)
Market Cap: $106.63 billion
Anheuser-Busch InBev Sa/NV (NYSE:BUD) is the Largest Beer Producer by Volume in the World. The company had a global production volume of 585 million hectoliters in 2023 while boasting a revenue of $59.38 billion, an increase of over 2.7% from the previous year. This revenue increase was despite the company facing some headwinds in the American market last year after the recent controversy regarding its best-selling brand Bud Light, which resulted in the iconic brand losing its crown as the Top-Selling Beer in America after nearly two decades.
AB InBev’s total production volume decreased by 0.6% during the first quarter of 2024, as growth in the majority of its markets was offset by its volume performance in Argentina, China, and especially the U.S. However, revenue per hectoliter still increased by 3.3% as a result of revenue management initiatives and premiumization. Underlying EPS also increased by 16% compared to last year, reaching $0.75.
Despite the slight decrease in overall volume, the company’s portfolio seems to be gaining momentum thanks to the continued strength of its core mega brands. The sales of Busch Light have stayed strong, Stella Artois has witnessed market share gains after the recent partnership with David Beckham, Michelob Ultra is expected to profit from the increasing popularity in the U.S., and even Bud Light, despite the recent setback, has remained among the top four or five brands in most U.S. markets by sales.
Anheuser-Busch InBev Sa/NV (NYSE:BUD) also maintains a strong position in the swiftly emerging non-alcoholic beer segment. In fact, it has recently scored a sponsorship for the upcoming Olympic Games, making it the first beer company ever to sponsor the grand event. The IOC specifically highlighted Corona Cero – the non-alcoholic version of the global best-seller Corona – as the beer of choice for the partnership, which will stretch from the upcoming Paris 2024 Summer Games to the Los Angeles 2028 Summer Games. The brewing giant has also partnered with brands such as Roland Garros, NBA, UFC, NFL, and even UFC to market its core beers, reflecting its broad marketing capabilities.
Among the 36 hedge funds in the IM database that had invested in the Top Alcohol Stock in Q1 2024, the largest stake of 9.29 million shares was held by Fisher Asset Management, valued at over $564.8 million.
Want to learn more about which other liquor makers are big enough to make the cut, here is our full list of the 20 Largest Publicly Traded Liquor Companies in the US.
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