America Has A New No. 1 Beer — And It's Got Bud Light DNA

Core Insights - Anheuser-Busch InBev has regained the title of the bestselling beer in America with its Michelob ULTRA brand, surpassing Bud Light and Modelo Especial [1][2]. Group 1: Market Performance - Michelob ULTRA has become the number one beer in the retail sector over the past 52 weeks, according to Circana data, and also leads in bars and restaurants as per Nielsen data [4]. - Over the last five years, Michelob ULTRA has experienced a growth of 15% and gained over 2% of the beer market [5]. - Anheuser-Busch InBev's stock has increased by 18.4% year-to-date in 2025, recovering from previous losses related to Bud Light [11]. Group 2: Competitive Landscape - Constellation Brands' Modelo Especial has seen weaker demand recently, attributed to higher prices and economic concerns affecting Hispanic buyers, who represent about half of Constellation's beer business [8]. - Constellation has lowered its full-year guidance, expecting net beer sales to decline by 2% to 4% compared to earlier projections of flat to a 3% increase year-over-year [9]. Group 3: Marketing and Partnerships - Michelob ULTRA has engaged in partnerships with major sports leagues and events, including the NBA, WNBA, PGA Tour, and the upcoming 2026 FIFA World Cup, enhancing its visibility [3][6]. - The brand has also signed a multi-year partnership with Netflix for co-branded deals, which is expected to further increase consumer attention [7].