TAP · Earnings call · 2026Q2T · Full report

Market Demand Trends

MOLSON COORS BEVERAGE CO · 2026-08-06 · Importance 31 · Surprise 32

The U.S. beer industry declined 4.2% in Q2, while EMEA and APAC brand volume declined 3.4% amid soft demand and heightened competition. Consumers shifted toward convenience and dollar channels, singles and small packs, while food, grocery and larger packs weakened. The on-premise channel was up approximately 14% versus off-premise during the World Cup, although the benefit was concentrated in host cities rather than nationwide. Above Premium demand remained resilient, with growth in brands including Peroni and Fever-Tree.

Key facts

• The company stated World Cup impact only included the last 3 weeks of Q2.
• Molson Coors' internal estimate for the U.S. beer industry in Q2 was down 4.2%.
• In Q1, internal estimates indicated the industry improved to down minus 1.6%.