Multinational brewing company Anheuser-Busch InBev (AB InBev) has announced a drop in sales volumes in its second quarter, with weak demand especially prominent in Brazil and China. 

AB InBev, which is the world’s largest brewer, revealed that volumes fell 1.9% in the three months to the end of June. This is an additional 1.6% compared to the expected 0.3% decline. 

At the same time, however, AB InBev reported an increase in overall revenue. This was led by Corona, which grew by 7.7% outside its home market over the second quarter. 

In the latest report, the company announced its earnings before interest, taxes, depreciation and amortization (EBITDA) were up by 6.5% in 2Q25. 

Looking forward, the company said that it will continue its focus on premiumisation. “Corona led our premium performance in 2Q25, increasing revenue by 7.7% outside of Mexico with double-digit volume growth in more than 30 markets.” 

It added that it will also prioritise health-led choices such as non-alcoholic beer alongside diversifying into non-beer drinks such as Cutwater in the US and Beats in Brazil, which it said drove a revenue increase of 6.4%. 

Michel Doukeris, CEO of AB InBev, praised the company. He said: “While the operating environment remains dynamic, the consistent execution of our strategy by our teams and partners drove a solid first half of the year and reinforces our confidence in delivering on our outlook for 2025.”