Heineken has poured a combined $3.75 billion into Vietnam and Mexico as only 54% of Americans reported drinking alcohol in 2025, a record low, and 71% of Europeans said they were consuming less. The Dutch brewer has invested $1 billion in Vietnam since entering in 1991, now holding a 43% market share with six breweries, though profits there were hit by an economic slowdown and a 13.2% fall in beer volumes in the first half of 2023. Last year, Heineken announced a $2.75 billion investment in Mexico, including a new factory in Yucatan, as Mexico ranked fourth in global beer consumption with 9% growth from 2022 to 2023. The company is pivoting to emerging markets as developed nations undergo a 'Great Sobering,' with Vietnam's per capita beer consumption projected to drop from 46 liters in 2023 to 41 liters in 2026 and a 25% excise tax hike phased in from 2026 to 2031 expected to further dampen demand.
HeinekenHeineken invests $3.75B in Vietnam and Mexico to offset declining alcohol consumption in US and Europe, but Vietnam's beer volumes fell 13.2% and excise tax hike looms.
Heineken Holding NVHeineken Holding NV mirrors Heineken's strategic pivot to emerging markets with same mixed demand outlook.