According to the World Health Organization, global alcohol consumption decreased from 5.7 to 5.0 liters per capita between 2010 and 2022. This might not seem like much, but it is more than a 12% decrease worldwide in just 12 years. This trend has continued through the present day as global consumption fell another 2% in 2025.
As health-conscious consumers purchase fewer alcoholic drinks, investors could sour on stocks such as Anheuser-Busch InBev (BUD 1.47%), but it doesn't tell the entire story and isn't likely to happen. Let's have a look at why.
NYSE: BUD
Key Data Points
Anheuser-Busch beat earnings again on Tuesday, May 5, with revenue increasing 5.8% year over year. Underlying earnings per share topped 20% in the first quarter of 2026.
AB InBev is focusing on premium products, and this seems to be a bet that is paying off. The premiumization of products, combined with a focus on growing its "Beyond Beer" and no-alcohol beer categories, is the main driver behind the company's growth.
Image source: Getty Images.
In the Q1 2026 earnings release, AB InBev reported 27% increase in no-alcohol beer sales and 37% growth in Beyond Beer.
Anheuser-Busch isn't the only beverage company focusing on premium beers. This is also the approach competitor Constellation Brands is taking.
Consumers are drinking less, but that doesn't spell doom for Anheuser-Busch. In fact, the company has a solid plan to navigate this new chapter in alcohol sales. AB InBev stock is up 25% in 2026 but still trades at reasonable valuation metrics, making it a solid buy for long-term investors.
