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Global Beer Sales Continue To Outpace Volume over The Next Five Years

Views: 0     Author: Site Editor     Publish Time: 2024-09-05      Origin: Site

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Global beer sales will grow faster than volume over the next four years as the "premiumisation" of the market continues, according to analysts at the world's leading data analytics and consulting firm.

GlobalData's beverage analysts say global beer sales are set to grow ata 3.9% compound annual growth rate between 2023 and 2028, with the CAGR in volume expected to slow to 1.3% over the same period.

Kevin Baker, global head of beer and cider research at GlobalData, said the shift to premium products has been under way for more than a decade. He stresses that the shift is driven by values, not just a desire for luxury goods.

Between 2019 and 2022, the compound annual growth rate of global beer volumes declined by 0.1%, while sales volume rose by 3%.

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"It may seem paradoxical that people drink more premium beer during an economic crisis, but it's really about value for money." "When we ask people in our survey, what does good value mean to you? That, they say, means high-quality products and ingredients. So if you have a limited amount of money at your disposal, you don't want to waste it, you want to spend it on something worthwhile."

In 2022, super-premium and premium beer sales are up 5.8% and 5.6%, respectively, according to GlobalData; Those two prices will account for just over a quarter of total beer sales in 2022. In contrast, mainstream beers, which account for 60% of the market, saw a modest increase of 2.3%, while cheap beers, which account for 13% of the market, saw a decrease of 1.8%.

Juan Gonzalez, director of the international business department of Damm Group, a well-known Spanish beer producer, highlighted the impact of market maturity on alcohol consumption. "The more mature the market, the more people are willing to pay for the higher prices," he explained.


But Mr. Gonzalez warned that as the market continues to mature, consumers may shift to non-alcoholic drinks or other more sophisticated drinks. To counter this trend, he stressed the importance of looking at the market for the world's leading lagers. In the UK, he estimates that this segment, which includes brands such as Damm, Peroni and Moretti, accounts for 30 per cent of sales.

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