Ozempic and Health Trends Squeeze Beer Consumption in Brazil
A Bank of America survey reveals a structural decline in Brazilian beer consumption, driven by weight-loss medications like Ozempic and wellness trends.
A structural shift in consumer habits is quietly reshaping the beverage market in Latin America’s largest economy. According to a new consumer survey released by Bank of America (BofA) on October 2, 2026, beer consumption in Brazil has remained notably weak since mid-2025. The cooling demand is driven by a combination of tightening household budgets and a rising wave of health-consciousness, including the growing popularity of weight-loss medications.
The proprietary survey of 1,000 Brazilian consumers revealed that only 56% of respondents now drink beer more than once a week. This marks a clear drop from the stable average of 60% that analysts had observed since 2024. The decline points to a more permanent shift in how Brazilians approach their leisure time and dietary choices, rather than a temporary seasonal lull.
Among the respondents who reported drinking less beer or maintaining low consumption levels, 22% cited diets or weight-loss medications as a primary driver. This is up from 20% in 2025, signaling the expanding influence of GLP-1 receptor agonists, such as Ozempic, on daily consumption habits. These treatments, widely used to combat obesity, are known to significantly reduce cravings for both high-calorie foods and alcohol.
This evolution in lifestyle choices poses a direct challenge to beverage giant Ambev, the dominant player in the Brazilian beer market. For decades, the company relied on steady volume growth in its domestic market to anchor its global portfolio. With traditional beer volumes facing headwinds, the industry is being forced to pivot toward premium brands, zero-alcohol alternatives, and functional drinks to capture health-conscious spenders.
What it touches
The shift in consumer habits directly impacts Ambev (ABEV3; NYSE: ABEV), the Brazilian subsidiary of Anheuser-Busch InBev. As volume growth in core beer brands slows, the company faces pressure to defend its profit margins by raising prices or accelerating its transition to premium and non-alcoholic segments.