Michelob Ultra is America's best-selling beer by volume, according to Beer Marketer's Insights, which had it passing Bud Light in September 2025. Dollar sales are disputed: Constellation says Modelo Especial remains No. 1 in Circana data, while Fox Business reported that Circana had Michelob Ultra first for a 52-week window. Bud Light trails both.
Which beer is No. 1 in America in 2026?
The answer depends on whether you count volume, dollars, or bars, and on which data provider you trust. Each measure below has its own leader and its own source, so a single No. 1 claim is incomplete without naming the measure.
Anheuser-Busch announced that Michelob Ultra was the top-selling beer in America by volume, according to VinePair. Beer Marketer's Insights put Michelob Ultra at 8.5% of total beer volume against Bud Light's 8.46% in September 2025.
Why do the beer rankings disagree?
The rankings disagree because they measure different things. Three differences explain most of the gap. This is EPR's analysis of the sources above.
- Price per case. Modelo Especial is sold at a premium, so it earns more dollars per case than Michelob Ultra or Bud Light, which is why it can lead in dollars while trailing in volume.
- Channel. Retail scan data and bar and restaurant data tell different stories. Fox Business quoted an Anheuser-Busch executive saying Michelob Ultra was already the top-selling draft beer in bars and restaurants.
- Data provider and period. Circana, NielsenIQ, and Beer Marketer's Insights use different outlets and time windows, such as 52 weeks versus year to date, so numbers from different providers should not be compared directly.
How did Bud Light lose its lead?
Bud Light lost its lead in stages after the April 2023 boycott. Modelo Especial passed it in dollar sales in June 2023, and Michelob Ultra then passed it in year-to-date dollar sales in July 2024, in draft lines in November 2024, and in volume in September 2025. An Evercore ISI estimate reported by the Financial Times has Bud Light at 12.7 million U.S. barrels in 2026, down 19.6% from 2024. The full timeline is in Has Bud Light Recovered? 2026 Sales Data and PR Lessons.
Is Modelo Especial still growing?
Modelo Especial leads in dollars according to Constellation, but its volume has been declining. Constellation reported Modelo Especial depletions down about 3% in fiscal 2026, which ended February 28, 2026, and about 2% in the quarter ended August 31, 2026, while Corona Extra fell about 7% and 5% in those periods. Pacifico grew about 15% or more and Victoria about 15% or more in both periods, according to Constellation's fiscal 2026 results and second-quarter fiscal 2027 results. EPR covers the challenge to Modelo in Modelo Three Years Later: Who's Challenging It.
What should brands and PR teams take from the ranking fight?
Brands should name the measure whenever they claim to be No. 1. Anheuser-Busch can truthfully say Michelob Ultra is No. 1 by volume, and Constellation can truthfully say Modelo Especial is No. 1 by dollars, so each claim is accurate only with its qualifier. These are EPR's recommendations.
- State the measure, channel, data provider, and period in every ranking claim, such as "No. 1 by volume in U.S. retail and on-premise, per Beer Marketer's Insights, September 2025".
- Check the figure against the latest data before it appears in a release, because beer rankings changed several times in two years.
- Prepare the answer for the follow-up question. Journalists will ask which measure the claim uses, so have the comparison table ready.
- Do not borrow a rival's number. A dollar-share claim from one provider cannot be set against a volume claim from another.
