Growth in beer consumption in Brazil in 2024, despite rising prices

After a slight drop in beer consumption in 2023, the expectation for 2024 is a recovery in the Brazilian market, even with the increase in the price of the drink. Experts point out that this recovery is in line with the traditional beer-drinking profile of the Brazilian population. According to a study conducted by Brazil Panels in partnership with Agência Conexão Vasques, 61% of Brazilians over the age of 18 drink beer, with approximately one third (32.8%) of the population consuming the beverage at least once a week. For Claudio Vasques, president of Brazil Panels, the beer market in Brazil is quite dynamic. “In the upper classes, flavor is highly valued, while in the lower classes, price is the main decision factor, leaving quality in the background. Traditional brands dominate the market, but there is great potential for new brands,” says Vasques. After a 1.1% drop in beer consumption in 2023, according to Euromonitor data, the projection for this year is a 0.8% growth. ...