Constellation Brands' Modelo Especial has been overtaken by Michelob Ultra as the best-selling beer in the United States, according to data from Circana for the 52 weeks ended September 14, 2025. This marks a significant shift in the U.S. beer market, where Modelo Especial had previously unseated Bud Light.
Modelo's declining popularity is attributed to several challenges facing Constellation Brands, including tariffs on aluminum and Mexican imports. Additionally, weaker demand from Hispanic consumers, historically a core customer base for Modelo, has contributed to the brand's performance decline.
Company executives have previously stated that President Donald Trump's immigration policies and related job losses have weighed on Hispanic consumers' spending, impacting beer sales. This loss of market leadership for a key brand underscores the competitive and macroeconomic pressures Constellation Brands is currently navigating.
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