Dutch brewer Heineken has warned that its 2025 beer sales will fall as global economic pressures continue to worsen, Reuters reported on Wednesday.
In a statement, the company said it expects beer volumes to “decline modestly” next year. This marks another downgrade in its performance outlook, coming just months after it predicted that annual volumes would remain broadly stable rather than grow.
Heineken’s shares plunged more than 8% in July following that earlier warning, and the latest forecast signals continued struggles for the world’s second-largest brewer.
The company reported a 0.3% drop in third-quarter net revenues, slightly outperforming analyst expectations of a 0.8% dip. Despite this, Heineken faces persistent challenges in reviving volume growth—a problem shared by many major brewers globally.
While breweries have managed to offset sales declines through price increases, investors are now shifting focus to actual volume performance, reflecting concerns over slowing consumer demand.
Heineken added that its annual organic operating profit would likely land at the lower end of its 4% to 8% range.
According to the statement, the brewer’s third-quarter sales were particularly affected by weak demand in Latin America and Europe. Consumer sentiment in key markets such as Brazil has been shaken by ongoing trade tensions, while Heineken has also lost shelf space in Europe following a pricing dispute with major retailers.
