Budweiser and Heineken face polar opposite fates in China as punters stay home
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Beer drinkers in China are veering away from bars and high-end restaurants, instead opting for cheaper stay-at-home options, analysts say.

The world’s two largest brewers faced starkly diverging realities in China in 2025 and rather than it being about taste or popularity, the contrast appears to largely boil down to a shift in the nation’s drinking habits, sparked – in part – by the economic downturn. During the year, Budweiser Brewing APAC, the Asian subsidiary of the Belgian beer giant Anheuser-Busch InBev, posted its biggest decline in profit growth since 2020, with the company’s CEO Yanjun Chen stating last week, “Our…

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