This beer company defies beer slump with 3.1% sales boost

While most beer brands in the US are struggling to increase sales as millennials and Gen Z seek healthier alternatives, one company, Michelob Ultra, is thriving. The brand posted a 3.1% increase in domestic store sales for the 12 weeks ending June 14.

Meanwhile, rivals like Modelo Especial, Bud Light, Coors Light, and Miller Lite all saw a slump in sales, according to NIQ data analyzed by Goldman Sachs.

The beer industry is facing headwinds from weight loss drugs like Ozempic, increased cannabis use, and shifting preferences among younger drinkers toward nonalcoholic drinks and canned cocktails.

However, Michelob Ultra’s long-standing focus on low-calorie, low-carb brews, along with consistent health and fitness branding, has made it more resilient. It climbed to the No. 2 spot in 2024, pushing Bud Light to No. 3. 

Both brands are owned by Anheuser-Busch InBev, which saw an increase in US market share despite a 5.1% drop in revenue last quarter.

Analysts say Michelob Ultra’s light profile is winning over health-conscious consumers, especially during daytime events and early sports viewings.