China’s beer market forecast for growth

Published Jul 16, 2024

Tridge summary

China, the world's largest beer producer, is expected to experience a surge in sales, particularly in premium brands, later in the year. This recovery in beer consumption follows an estimated decline in volumes in the first half of the year. Sporting events such as the Euro 2024, Copa Americana, and Paris Olympics are expected to drive this demand. The trend towards premium beer is expected to lift the catering sector and also boost margins for breweries, with cheaper barley prices having a positive impact on the local economy.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

China, the world’s largest producer of beer, has been forecast to see a a boost in sales, led by consumers seeking premium brands. In a deep dive into the sector, Chinese online database QiChaCha flagged how on the back of sporting events, consumers would be looking for premium offerings while CGS International predicted a recovery in beer consumption in the latter part of the year. The lift in sales, which was outlined by CNBC, will follow an estimated decline in volumes in the first half of the year compared to 2023 and yet sporting events such as the ongoing Euro 2024, the upcoming Copa Americana and Paris Olympics, are anticipated to drive up demand for beers. In a report published last month, CGS analysts Lei Yang and Sun Feifei pointed out that higher-than-expected sales of premium beers are expected to lift the catering sector. According to a spokesperson from QiChaCha: “The beer market has shown a clear growth trend, and major beer brands have competed to launch products ...

Source: Thedrinkbusiness