The Austrian beer market has fluctuated significantly from 2013 to 2023. By 2023, the market value stood at approximately 1.389 billion Euros. Notably, the market experienced major declines in 2017 and 2020, the latter with a striking -17.72% year-on-year drop, likely due to external economic shocks. Post-2020 recovery has been steady, with annual growth rates varying between 0.29% and 5.57%. In 2023, a relatively modest growth of 0.29% reflected market stabilization.
Looking ahead, the forecast for the period from 2024 to 2028 suggests a tepid average annual growth rate (CAGR) of 0.25%, indicating an overall slow-growth trajectory. Future market expansion will depend on consumer preferences, regulatory changes, and macroeconomic factors.
Future trends to watch for include:
- Changes in consumer preferences towards craft and specialty beers.
- Evolving regulatory policies regarding alcohol consumption.
- Impact of economic fluctuations and disposable income on beer consumption.
- Expansion of non-alcoholic and low-alcohol beer segments.
- Influence of sustainability practices on production and packaging.