Beer Global Value Shares: Quality Over Quantity?

October 2019

Euromonitor International’s new global value shares reveal some notable differences in the volume and value leaderboards for beer. Premiumisation has been one of the defining characteristics of the beer industry for some time, and increasing competition in key markets is driving an even greater focus on value generation. Positioning, geography and on-trade presence are contributing to variations in company performance. Where is the value to be found in beer?

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AB InBev leads the way

Unsurprisingly, it is brewers that dominate the global alcoholic drinks leader board in volume sales while spirits producers have a greater role to play in value.

AB InBev leads the global rankings in both volume and value terms, holding more than twice the share of second placed Heineken by both measures. At the global alcoholic drinks level, nearly all beer-led companies command a greater share of volume than value, although the balance varies considerably.

Spirits-focused players Diageo and Pernod Ricard are both among the top five companies by value share. They benefit from the fact that premium international spirits brands form a large proportion of their respective portfolios. Diageo also has a reasonably strong position in volume terms, boosted by the global dominance of its Guinness brand in stout.

AB InBev leads the way
Notable variations in relative value and volume shares
Category and geography coverage helps shape the leaderboard
Top global brewers play a leading role across regions
Despite lower prices, emerging markets hold value for brewers
A closer look at the US: mixed performance at the top
A closer look at China: premium competition intensifies
Top brands each rely on one or two core markets
Heineken and Budweiser: genuinely global brands?
Searching for value in key industry trends
Appendix: Alcoholic drinks value shares methodology
Appendix: Beer methodology in detail


An alcoholic drink usually brewed from malt, sugar, hops and water and fermented with yeast. Some beers are made by fermenting a cereal, especially barley, and therefore not flavoured by hops. Alcohol content for beer is varied – anything up to and over 14% ABV (alcohol by volume), although 3.5% to 5% is most common. Beer is the aggregation of lager, dark beer, stout and non/low alcohol beer.

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