The beer market in China has exhibited a mixed trend in the recent years. From 2014 to 2015, the market size saw a slight increase, but from 2016 to 2018, it experienced a significant decline. The year-on-year variation for these years show steep drops, such as a 12.83% decrease in 2016 and another 12.82% in 2018. Although there were minor improvements in 2019 and 2021, with year-on-year growth of 2.05% and 17.28% respectively, the overall trend remained downward.
In 2020, the market saw a sharp contraction of 19.19%, likely influenced by external factors such as the global pandemic. From 2021 to 2023, the market showed a year-on-year decrease of 2.7% each year. As of 2023, the beer market size stood at 36.12 million metric tons.
Looking ahead, the forecasted data suggests a continued decline with a compound annual growth rate (CAGR) of -2.48% from 2024 to 2028. The market is expected to reduce by 11.8% over this five-year period, leading to a projected size of 30.89 million metric tons by 2028.
Future trends to watch for include the impact of changing consumer preferences towards healthier options, increased competition from other alcoholic beverages, and potential economic fluctuations. Additionally, innovations in product offerings and marketing strategies by breweries could influence the market dynamics.
