AB InBev Revenue Breakdown By Region — Americas, EMEA, and Asia Pacific

AB InBev’s beer. Pixabay Image.

This article presents Anheuser-Busch InBev (AB InBev)’s revenue breakdown by region. ABI’s reportable regions consist of the following geographical locations:

• North America,
• Middle Americas,
• South America,
• EMEA,
• Asia Pacific, and,
• Global Export and Holding Companies.

Let’s get started!

For other key statistics of AB InBev, you may find more resources on this page: ABI key stats.

Please use the table of contents to navigate this page.

Definitions

To help readers understand the content better, the following terms and glossaries have been provided.

North America: ABI’s North American region includes the following countries: United States and Canada.

Middle Americas: ABI’s Middle Americas region includes the following countries: the Caribbean, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico,
Panama and Peru.

South America: ABI’s South American region includes the following countries: Argentina, Bolivia, Brazil, Chile, Paraguay and Uruguay.

EMEA: ABI’s EMEA region includes the following countries: Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Spain, Switzerland, the United Kingdom, Botswana, Ghana, Lesotho, Mozambique, Namibia, Nigeria, South Africa, Swaziland, Tanzania, Uganda and Zambia and other African, European and Middle East countries.

Asia Pacific: ABI’s Asia Pacific region includes the following countries: China, India, Japan, New Zealand, South Korea, Vietnam and other South Asian and Southeast Asian countries.

Global Export and Holding Companies: ABI’s Global Export and Holding Companies segment includes the company’s headquarters, some non-beverage related businesses, and the countries in which its products are sold only on an export basis and in which ABI generally does not otherwise have any operations or production activities.

Back To Table Of Contents

Insight & Summary of AB InBev’s Revenue Breakdown By Region

AB InBev’s Total Net Revenue expanded from $53.0 billion in FY2018 to a peak of $59.8 billion in FY2024, before edging down to $59.3 billion in FY2025. The composition of that revenue has shifted meaningfully over the period: Middle Americas has grown into the largest regional contributor, North America has receded from the top position, and the remaining regions have moved at differing paces — a rotation in the revenue base rather than uniform growth across the portfolio.

• Middle Americas has become the primary growth engine Middle Americas’ revenue mix rose from 21.9% in FY2018 to 29.3% in FY2025, overtaking North America as AB InBev’s largest region by revenue share around FY2023. Its three-year average net revenue of $16.9 billion is now the highest of any region, supported by average growth of 7.2% — the strongest of any segment over FY2023–FY2025 (excluding the smaller, more volatile Global Export and Holding Companies line).

• North America’s share is compressing North America’s revenue mix declined from 29.2% in FY2018 to 23.9% in FY2025, and its three-year average growth rate is -5.0%, the weakest among the core regions. Absolute revenue has fallen from a FY2022 high of $16.6 billion to $14.2 billion in FY2025. North America remains a substantial contributor at roughly a quarter of total revenue, but its relative weight within the portfolio continues to shrink.

• South America and EMEA have been more stable contributors South America’s mix has held in a comparatively narrow band (17.3%–20.8%) across the period, with average growth of 1.1% over FY2023–FY2025 — modest but positive after a volatile stretch earlier in the period. EMEA has grown steadily in both absolute and relative terms, with its mix rising from 15.8% in FY2018 to 16.0% in FY2025 and average growth of 5.4%, the second-strongest of the core regions.

• Asia Pacific is the one region in structural decline Asia Pacific’s mix has fallen in nearly every year of the period, from 12.7% in FY2018 to 9.6% in FY2025, with average growth of -4.3% over FY2023–FY2025. It is now the smallest of the five core regions by both revenue and share, a reversal from earlier in the period when it stood roughly on par with EMEA.

• Global Export and Holding Companies remains a minor, volatile line This segment consistently represents about 1% or less of Total Net Revenue and swings sharply from year to year (growth ranging from -35.7% to +73.8% across the period). Its scale is too small to meaningfully influence the overall revenue mix, though its volatility stands out against the more stable core regions.

• Structural Takeaway: The structural takeaway is a clear rebalancing of AB InBev’s revenue base away from North America and Asia Pacific and toward Middle Americas, with EMEA and South America providing steady, if less pronounced, support. This is not a one-year phenomenon — the mix shift has been directionally consistent across most of the eight-year window, which points to durable regional demand and currency dynamics rather than a temporary swing.

  The foreseeable trend, if the current trajectory holds, is a continued narrowing of the gap between Middle Americas and North America’s shares, or Middle Americas extending its lead further, while Asia Pacific’s declining trend bears monitoring for signs of stabilization. Total Net Revenue growth turned negative in FY2025 (-0.7%) after two years of modest gains, driven primarily by continued weakness in North America and Asia Pacific offsetting Middle Americas’ and EMEA’s gains — a trend worth watching to see whether it persists into FY2026 or proves a one-year dip against an otherwise positive multi-year growth trajectory.

The table below combines all key AB InBev’s revenue by region metrics into a single view for the latest three fiscal years.

Back To Table Of Contents

Revenue breakdown by region

The definitions of ABI’s regions are available here:

• North America,
• Middle Americas,
• South America,
• EMEA,
• Asia Pacific, and
• Global Export and Holding Companies.

Back To Table Of Contents

Revenue mix by region

The definitions of ABI’s regions are available here:

• North America,
• Middle Americas,
• South America,
• EMEA,
• Asia Pacific, and
• Global Export and Holding Companies.

Back To Table Of Contents

Revenue growth by region

The definitions of ABI’s regions are available here:

• North America,
• Middle Americas,
• South America,
• EMEA,
• Asia Pacific, and
• Global Export and Holding Companies.

Back To Table Of Contents

References and Credits

1. Financial figures in this article were obtained and referenced from AB InBev’s financial statements, earnings releases and reports, which are available in AB InBev Results Center.

2. Pixabay Images

Back To Table Of Contents

Disclosure

We may use artificial intelligence (AI) tools to assist us in writing some of the text in this article. However, the data is directly obtained from original sources (usually the quarterly and annual reports) and meticulously cross-checked by our editors multiple times to ensure its accuracy and reliability.

If you find the information in this article helpful, please consider sharing it on social media. Additionally, providing a link back to this article from any website can help us create more content like this in the future.

Thank you for your support and engagement! Your involvement helps us continue to provide high-quality, reliable content.

Back To Table Of Contents