The beer demand in Australia has demonstrated fluctuations over the past decade. In 2023, the value stood at 2.01 million metric tons, mirroring the demand from 2022. Analyzing the year-on-year variations reveals notable shifts including a significant decline in 2020 by 17.08% due to pandemic impacts, followed by a recovery of 20.42% in 2021. The calculated CAGR over the last five years indicates an average annual decrease of 0.39%.
From 2024 onwards, forecasts suggest demand stabilizing at around 2.01 million metric tons with minimal variation. The average annual forecasted decrease in demand is -0.05%, indicating a slight but consistent declining trend over the next five years.
Future Trends to Watch For:
- Shifts in consumer preferences towards healthier options and craft beers
- Impact of regulatory changes and taxes on alcohol
- Influx of new market entrants and innovation in beer products
- Effects of economic conditions and disposable income on alcohol consumption
