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The beer industry is as old as civilization itself, the Sumerian civilization even had a goddess of beer, so it would be fair to classify beer as a mature industry. Given this, what has happened with the stock prices of the major beer producers in the US and the world, operating in this mature industry?
As shown in the graph below, over the latest five-year period, Molson Coors (TAP) and Anheuser-Busch InBev (BUD) have lost 44% and 56% of their market cap, respectively. Carlsberg (CABGY) and Heineken (HEINY) have gained 51% and 24%,