The beer production in South Africa peaked at 3.23 Million Metric Tons in 2017 before experiencing a considerable decline to 2.62 Million Metric Tons by 2023, with fluctuations primarily driven by economic and political challenges. The year-on-year variation for 2023 is -1.32%, highlighting a continuous slight downturn reflected in the -1.32% change from 2022. Over the recent five years, the CAGR has been mildly negative at -1.13%, foreseeing a gradual decrease to 2.44 Million Metric Tons by 2028. The consistent downward trajectory underscores significant market volatility and potential structural industry changes.
Future trends to watch include:
- Changing consumer preferences towards craft beers and premium products.
- Potential new government regulations affecting alcohol consumption and production.
- Impact of economic recovery post-COVID-19 on consumer spending habits.
- Technological advancements in production processes aiming for efficiency and sustainability.
