Key Market Indicators
**Serbian Beer Market on Modest Growth Path** **Belgrade** – The Serbian beer market is projected to reach approximately €389 million by 2028, up from €380 million in 2023. This equates to a modest compound annual growth rate (CAGR) of 0.4%. The market has shown steady growth, increasing by 3% annually since 2019. In 2023, Serbia was ranked 15th globally in beer sales, with Hungary surpassing it with a market value of €380 million. The top three countries in this ranking are the United Kingdom, Spain, and Belgium, holding the 2nd, 3rd, and 4th positions, respectively. **Beer Production Facing Slight Decline** Serbian beer production is expected to decrease slightly from 549,760 metric tons in 2023 to 539,860 metric tons by 2028. This reflects a minor annual decline of 0.2% in the compound annual growth rate. Since 2011, the country's beer supply has been on a gradual decline, falling by 0.6% each year. In the global context, Serbia was ranked 43rd in beer production in 2023, with Norway overtaking it at 549,760 metric tons. Leading the production rankings are the United States, Brazil, and Mexico, in the 2nd, 3rd, and 4th positions, respectively.
