From 2014 to 2023, beer demand in China exhibited significant volatility, initially rising in 2015 but dropping sharply in subsequent years. While the market saw a slight recovery in 2021, demand continued to decline, reaching 36.13 million metric tons in 2023, down by 2.7% from the previous year.
The average compound annual growth rate (CAGR) over the past five years (2019 to 2023) was -1.74%, indicating a downward trend.
Looking forward from 2024 to 2028, the forecast shows a consistent decrease in beer demand at an annual average rate of -2.48%, resulting in an 11.8% reduction over this period.
Future trends to watch for:
• Health-conscious consumer behavior that may reduce beer consumption.
• Potential market shifts towards premium and craft beer segments.
• The impact of new regulations and economic factors on the alcohol industry.
