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Beverage

AB InBev packaging profile

AB InBev is a global brewer. Its 2025 Annual Report says 89.7% of its products were in returnable packaging or made from majority recycled content in 2025, short of its 2017 goal of 100% by 2025, mainly because of limited recycled PET supply. Returnable packaging was 40.4% and more than 99% of primary packaging is recyclable.

By the SPI teamSources consulted 13 October 2026Status: LiveSourced from company reports; not yet re-checked by a second SPI team member.How this database works
Company profile

At a glance

Legal name
Anheuser-Busch InBev SA/NV1
Incorporated
Belgium (Register of Companies Number 0417.497.106)7
Headquarters
Brouwerijplein 1, 3000 Leuven, Belgium (principal executive offices)1
Listing
Euronext Brussels: ABI; Mexican Stock Exchange: ANB; Johannesburg Stock Exchange: ANH; New York Stock Exchange (ADS): BUD7
Financial year end
31 December1
Revenue
USD 59,320 million (2025); USD 59,768 million (2024)2
Employees
136,805 (31 Dec 2025)3
Markets
Products sold in over 150 countries; about 137,000 colleagues based in more than 40 countries1
Note
Total volume fell 2.3% in 2025; revenue per hl grew 4.4%.7
Related listing
Ambev S.A. is listed on the Sao Paulo and New York stock exchanges and contributed 26.6% (USD 15.8 billion) of 2025 revenue1 SPI note
Related listing
Budweiser APAC is listed on the Hong Kong Stock Exchange and contributed 9.7% (USD 5.8 billion) of 2025 revenue1 SPI note
End uses
Beverage
The business

Business and brands

Brands by category

Global brands6
  • Budweiser
  • Corona
  • Stella Artois
  • Michelob Ultra
Local champions (as listed in the company description)6
  • Aguila
  • Antarctica
  • Bud Light
  • Brahma
  • Cass
  • Castle
  • Castle Lite
  • Cristal
  • Harbin
  • Jupiler
  • Modelo Especial
  • Quilmes
  • Victoria
  • Sedrin
  • Skol
Other beer brands named in results commentary6
  • Busch Light
  • Modelo
  • Pacifico
Beyond Beer6
  • Cutwater
  • Nutrl
  • Flying Fish
  • Brutal Fruit
Markets

Geographic footprint

  • Five operating regions: North America, Middle Americas, South America, EMEA and Asia Pacific. Middle Americas is the largest by revenue (USD 17,376 million in 2025), followed by North America (USD 14,207 million) and South America (USD 11,954 million).2
  • United States net revenue USD 12,376 million and Brazil USD 8,766 million in 2025; Belgium USD 696 million4
  • Ambev 26.6% and Budweiser APAC 9.7% of 2025 revenue1
As the company reports it

Packaging profile

Formats and materials the company itself reports using, in its own reporting. No pack specifications, volumes or supplier names beyond what it has published.

FormatMaterialWhat the company reports
Bottles, cans, kegs, crates, labelsGlass, PET, aluminium, steel, plastic, paperPackaging materials used include glass, PET and aluminum bottles, aluminum or steel cans, kegs, labels and plastic crates; the company says it has a limited number of suppliers of aluminum cans and glass bottles1
All primary packagingMixed89.7% of products were in packaging that was returnable or made from majority recycled content in 20256
CanAluminium1 liter can and Corona full-open lid can launched in 2025 as packaging innovations6
CansMetalOwns US-based metal container plants; completed reacquisition of the 49.9% minority stake for USD 2.9 billion in HY20268
Returnable glass bottle, kegGlass, steelAbout 38% of global volume sold in returnable glass bottles (2022 data); returnable defined as kegs and returnable glass bottles12
CanAluminium, recycledAverage recycled content of the can portfolio more than 50% (2022 data)12
AllMixedPackaging represented 42.5% of value chain emissions (2022 data)12
CratePlastic, recycledCorona crate made with more than 90% recycled material including marine plastic (Germany, 2022 data)12
Glass bottle recoveryGlassRebounce glass bottle recovery project in Mexico worked with 90 collectors to recover more than 350 million bottles (2022 data)12
MixNot statedIn South Korea, negative packaging mix reduced revenue per hl in 2Q268

Reporting scope: The circular packaging KPI covers products in packaging that is returnable or made from majority (more than 50%) recycled content. The 2025 annual report with the full packaging disclosures could not be fetched (host blocks automated access), so 2025 detail beyond the headline KPI is not reproduced here.6

Packaging suppliers

  • Ball Corporation, Rio Tinto and Novelis: pilot of a low-carbon beverage can for Corona in Canada using low-carbon primary aluminium and recycled ingot 20 Apr 202310
  • Ardagh Group, WestRock and Stora Enso named among suppliers presenting best practices in the Eclipse supplier climate collaboration 20 Apr 202310

Industry and recycling partners named by the company10

  • Eclipse supplier collaboration platform
  • 100+ Accelerator
  • Global Innovation and Technology Center (Leuven)
The register

Packaging targets and progress

Targets and progress are taken from each company's own published reports, with a quote and a link on its page. Status shows met or missed only where the company has reported the result. No contacts, purchase volumes, supplier relationships or pack specifications are listed.

Other Missed By 2025 Sourced, not yet re-checked

100% of products in packaging that is returnable or made from majority recycled content (more than 50%) by 2025; primary packaging; set in 2017

Latest reported: 89.7% (2025)

From the source“In 2025, 89.7% of the company's products were in returnable packaging or made from majority recycled content (more than 50%).”

AB InBev – 2025 Annual Report (linked from this page), pp. 43 and 177-178

Other In progress By 2030 Sourced, not yet re-checked

Reduce absolute emissions across the value chain by more than 35% versus 2017 (2030 goals)

From the source“reduce absolute emissions across its value chain by more than 35% versus 2017”

AB InBev – AB InBev Publishes 2030 Sustainability Goals · May 2026

Commitments

Commitments and baselines

Every packaging and supply-chain commitment the company has published, with its baseline and the latest progress it reports. Status says met or missed only where the company states the result.

CommitmentByBaselineLatest reportedStatus
2025 Sustainability Goals (set 2018)100% of products in packaging that is returnable or made from majority recycled content6202577% (2022)89.7% (2025)Missed
2030 Sustainability GoalsReduce absolute emissions across the value chain by more than 35% versus 20179Packaging was 42.5% of value chain emissions in 2022 (s12), so can, glass and PET suppliers sit inside this target (SPI note)20302017Not reportedIn progress
Last 24 months

Recent packaging developments

  1. Completed the reacquisition of the 49.9% minority stake in its US-based metal container plants for USD 2.9 billion (reported in HY2026 cash flow).8

  2. Published 2030 sustainability goals covering agriculture, water, and energy and emissions (value chain emissions more than 35% below 2017); packaging is not a stand-alone 2030 goal.9

  3. Form 20-F for 2025 lists glass, PET and aluminium bottles, cans, kegs, labels and plastic crates as packaging materials and notes a limited number of can and glass bottle suppliers.1

  4. FY2025 results: 2018 sustainability goals closed; 89.7% of products in returnable or majority recycled content packaging; 1 liter can and Corona full-open lid can cited as packaging innovations.6

SPI analysis

Regulatory exposure

SPI analysis Our reading of the sourced facts above. Not company-reported, not legal advice.

Basis: Presence is taken from the 20-F (s1, s2, s4), the fully consolidated companies table as far as it could be read (s5, which stopped at France), the JSE listing7 and brands named in the results release6. Rule IDs are from the SPI Regulation Tracker. Applicability is SPI's reading of each rule against a beer and beverage maker using glass, cans, PET and kegs; it is not legal advice and does not state actual liability. With products sold in over 150 countries, presence in most tracker jurisdictions is likely but was not confirmed.

JurisdictionRules in the Regulation Tracker
European UnionFully consolidated company in France5; EMEA segment revenue USD 9,502 million in 20252; headquarters in Belgium1

As a beverage maker, PPWR reuse targets for beverages, deposit-return collection targets, tethered caps and recycled content in PET bottles all bear on its glass, can and PET formats.

GermanyNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Applies if the company places packaged beer on the German market; German presence not evidenced here.

FranceAB InBev France S.A.S., Lille5
SpainNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Plastic tax applies only to non-reusable plastic packaging (PET bottles, shrink film) placed on the Spanish market.

AustriaNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Beverage deposit rule relevant if cans or PET are sold in Austria.

IrelandNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Beverage DRS relevant if cans or PET are sold in Ireland.

PortugalNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).
PolandNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Polish DRS also covers glass.

United KingdomNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Drinks DRS (England and Northern Ireland from October 2027; Scotland October 2027) covers PET and cans, not glass.

United StatesUnited States net revenue USD 12,376 million in 20254; Anheuser-Busch Companies, LLC named as subsidiary guarantor15; US metal container plants8

California AB 793 recycled content applies to plastic beverage containers with CRV; most volume is cans and glass. State EPR laws may exempt or treat beverage containers differently where deposit systems exist; not checked.

CanadaLabatt Brewing Company Limited, Toronto5

Provincial beverage container deposit systems are outside the tracker list.

IndiaNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Plastic EPR applies only to plastic packaging placed on the Indian market.

ChinaAnheuser-Busch InBev (China) Sales Company Limited, Wuhan5; Harbin and Sedrin named as local champions6

GB 23350-2021 covers food including beverages; applicability to beer gift packs not checked.

JapanNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).
AustraliaNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Proposed scheme only.

New ZealandNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Tracker rules are single-use item phase-outs; no direct match.

VietnamNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).
PhilippinesNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).
IndonesiaNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).
ChileCerveceria Chile S.A., Santiago5
ColombiaBavaria & Cia S.C.A., Bogota5; Aguila named as local champion6
BrazilAmbev S.A., Sao Paulo5; Brazil net revenue USD 8,766 million in 20254
KenyaNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).
South AfricaSecondary listing on the JSE7 and Castle and Castle Lite named as local champions6; no South African entity confirmed in the sources fetched
United Arab EmiratesNot confirmed in the sources fetched (the full subsidiary list in the 20-F could not be read).

Dubai rule targets single-use bags, cups and cutlery; no direct match.

Plastic taxes: Plastic taxes in the tracker that can apply: UK Plastic Packaging Tax (PR-GB-001) and Spain's non-reusable plastic packaging tax (PR-ES-001), for PET bottles, shrink film and other plastic components, where the company places them on those markets. Glass, cans and returnable packaging are outside both taxes. The EU plastic own resource (PR-EU-017) is paid by Member States.

SPI analysis

What this means for packaging suppliers

SPI analysis Our reading of the sourced facts above. Not company-reported, not legal advice.

AB InBev is one of the largest buyers of beverage cans, glass bottles, kegs and crates. It missed its 2025 circular packaging goal (89.7% against 100%) and did not set a separate packaging goal for 2030, so packaging work now sits under its value chain emissions target of more than 35% below 2017. Packaging was 42.5% of value chain emissions in 2022, which points demand toward low-carbon and high recycled content aluminium, lighter and returnable glass, and recovery of returnable bottles. The company has brought its US can plants fully back in house, which suggests can-making in the US is less open to outside suppliers, while aluminium sheet and coil suppliers remain relevant. Deposit return schemes in the EU, UK and elsewhere, PPWR reuse targets for beverages and tethered caps all add demand for formats that fit those systems. No current supply contracts are disclosed; past named partners are from a 2023 climate article, so this describes demand signals, not who supplies.

Limits

Data gaps

What the sources reviewed do not show, or what we could not confirm. Know something we have missed? Tell the SPI team and we will check it.

  • The 2025 Annual Report PDF (cdn.builder.io) blocks automated access, so 2025 figures for returnable share, recycled content and recyclability (cited in the live summary as pp. 43 and 177-178) were not re-verified; only the 89.7% headline was confirmed (s6).
  • The 20-F main document is too large to read in full; brands, employees and countries were taken from the results releases and XBRL notes.
  • Full list of consolidated subsidiaries could not be read beyond France, so presence in DE, ES, AT, IE, PT, PL, GB, IN, JP, AU, NZ, VN, PH, ID, KE and AE is not confirmed.
  • Packaging-specific 2022 figures (returnable glass about 38%, can recycled content over 50%, packaging 42.5% of value chain emissions) are older than the latest year and are not updated in sources fetched.
  • No Ellen MacArthur Global Commitment or Plastics Pact membership found in the sources fetched.
  • Packaging tonnage and packaging spend are not disclosed in the sources fetched.
  • Counterparty and exact date of the US metal container plant stake reacquisition not stated in the release read.
  • No progress figure for the 2030 value chain emissions target was found.
Evidence

Sources

  1. Anheuser-Busch InBev SA/NV – Form 20-F for fiscal year 2025Regulatory filing · published 3 Mar 2026 · consulted 13 Oct 2026
  2. AB InBev – Form 20-F FY2025, XBRL report: Segment Reporting, Summary of Segment ReportingRegulatory filing · published 3 Mar 2026 · consulted 13 Oct 2026
  3. AB InBev – Form 20-F FY2025, XBRL report: Payroll and Related Benefits, Number of Full Time EquivalentsRegulatory filing · published 3 Mar 2026 · consulted 13 Oct 2026
  4. AB InBev – Form 20-F FY2025, XBRL report: Segment Reporting, Additional Information (country revenue)Regulatory filing · published 3 Mar 2026 · consulted 13 Oct 2026
  5. AB InBev – Form 20-F FY2025, XBRL report: AB InBev companies (Tables)Regulatory filing · published 3 Mar 2026 · consulted 13 Oct 2026
  6. AB InBev – Reports Full Year and Fourth Quarter 2025 Results (press release)Company publication · published 12 Feb 2026 · consulted 13 Oct 2026
  7. AB InBev – FY2025 results short form announcement (JSE SENS)Regulatory filing · published 12 Feb 2026 · consulted 13 Oct 2026
  8. AB InBev – Reports Second Quarter 2026 Results (Form 6-K exhibit 99.1)Regulatory filing · published 30 Jul 2026 · consulted 13 Oct 2026
  9. AB InBev – AB InBev Publishes 2030 Sustainability Goals, Aiming to Strengthen Supply-Chain ResilienceCompany publication · published 14 May 2026 · consulted 13 Oct 2026
  10. AB InBev – Suppliers are key to developing climate solutions across AB InBev's value chainCompany publication · published 20 Apr 2023 · consulted 13 Oct 2026
  11. AB InBev – Circular packagingCompany publication · consulted 13 Oct 2026
  12. AB InBev – 2022 Environmental, Social and Governance ReportCompany publication · published 2023 · consulted 13 Oct 2026
  13. AB InBev – SustainabilityCompany publication · consulted 13 Oct 2026
  14. AB InBev – Files its Annual Report on Form 20-F for the Year Ended 31 December 2025 (Form 6-K exhibit 99.1)Regulatory filing · published 3 Mar 2026 · consulted 13 Oct 2026
  15. AB InBev – Form 20-F FY2025, Exhibit 2.15 Description of SecuritiesRegulatory filing · published 3 Mar 2026 · consulted 13 Oct 2026

Targets in the register above link to their own source. Facts are summarised in the SPI team's words; quotes are marked.

Method

About the SPI Buyers Database

Purpose
To help packaging makers and suppliers see what large buyers have committed to publicly, by end use and region, and how far they have got.
Coverage
42 large brand owners and retailers so far, chosen for their size in packaging demand. It is not a complete list of buyers in any market.
Data sources
Each company's own sustainability, annual and ESG reports, press releases and filings, plus official sources where a pledge was made to a public body.
SPI Methodology
For each target we record the wording, the target year, the latest progress the company reports and a short quote from the source. Status says met or missed only when the company states the result; otherwise it shows in progress or not reported.
Limitations
Companies report on different bases and years. Headquarters countries and end uses are assigned by the SPI team and are not separately sourced. Rows have not yet been re-checked by a second SPI team member. No contacts, purchase volumes, supplier relationships or pack specifications are included.
Access
Free to read and to download as CSV. For an analysis of a buyer group for your products, ask for a buyer briefing.
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Questions people bring
  1. Q1

    Which material should replace our current pack?

    We compare the realistic alternatives on recyclability evidence, regulatory fit and cost direction, and say where the evidence is thin.

  2. Q2

    How do our targets compare with our peers'?

    We benchmark the public packaging commitments and reported progress of the companies you name, each with its source.