As the tournament comes to an end a note from Morgan Stanley said Carlsberg was the “positive surprise” during the tournament supported by the progress of teams from England, France, Switzerland and Norway.
Morgan Stanley had estimated a 24 basis point uplift to full-year beer sales, but has reviewed that down to 17 basis points.
Morgan Stanley said the shortfall primarily reflects earlier-than-expected exits in several large beer markets, notably Brazil, Germany and Colombia, while the US also underperformed.
The success of European teams has not been as successful for beer sales.
These markets are smaller in absolute beer-volume terms and have not been able to off-set the losses of the bigger beer countries, the bank said.
ABInBev’s predicted upside was lower than expected after Brazil’s exit, according to Morgan Stanley.
Pre-mix cocktails boom in US
However, it was not all bad news as Americans gathered to watch FiFA World Cup matches at home with friends and family driving an uplift in alcohol sales.
Pre-mix cocktails have had a sales boom in the US, according to data from Circana, that revealed sales jumped by 25.4% in the first full week of the tournament (Week ending June 28, 2026).
Non-alcoholic beer case sales were up 10.9%, unit sales of energy drinks were up 10%, while domestic beer sales were only up 2.2%.
Sally Lyons Wyatt, global executive vice president and chief advisor for Circana, said: “Consumers are looking for easy ways to build the at-home viewing experience, whether that means ready-to-serve appetizers, snack bundles, beverages or hosting essentials. Retailers and brands that make those occasions easier to shop will be best positioned to capture demand.”
Before the soccer tournament began, Circana’s consumer research found that 66% of fans said they planned to watch matches at home, while another 24% expected to watch with friends or family outside their household. Just 7% planned to watch at a restaurant or bar, and only 3% expected to attend matches in person.
The impact of those at home viewing habits has translated into repeat purchases for consumers. Circana said that instead of one large shopping trip, many households have been making multiple purchases of snacks, beverages, prepared foods and hosting over several weeks.
Circana’s research also found that consumers most interested in the tournament were younger, more multicultural, more urban and higher income than the average US consumer.
