World: Beer category down 6% in brand value this year
The beer category declined 6 percent in brand value this year because it is under pressure from declining consumption and the changing preferences of Millennials and Centennials. The beer Brand Contribution leaders are: Modelo, Skol, Corona, Heineken, and Stella Artois, the latest Brandz report says.
Weakened economies in Latin America, where five of the BrandZ™ Beer Top 10 are based, compounded the challenge of energizing the category. Every beer in the Top 10 lost value, except for Guinness, which rose 4 percent, and Budweiser, which remained flat. Overall, the Beer Top 10 lost 6 percent in value, following a rise of 3 percent a year ago.
Choice was not a problem. After the merger with SAB Miller, AB InBev owns around 400 brands, including eight of the BrandZ™ Top 10. The other two brands in the Top 10, Heineken, owned by Heineken NV, and Guinness, owned by Diageo, have brand portfolios. All the major brewers developed beers, and beer alternatives, to appeal to diverse pallets.
The newest drinkers, Centennials, tend to drink less and have other options, including marijuana, which is legal in parts of the US. They often seek a functional benefit and are mindful of the health impact of what they eat and drink. To meet these changing tastes, the major brewers developed beers that are craft, premium, or NABLAB (noand low-alcohol beer).
Budweiser, which remained flat in value year-on-year, retained its No. 1 position in the Beer Top 10, increasing its score in Difference, a key component of brand equity, over the past several years. Budweiser’s improved scores in Difference with Purpose, related to recent messaging around innovation and sustainability, helps keep the brand relevant to its customer base
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