The beer market in Asia has witnessed a steady decline in recent years. In 2023, the volume stood at 51.39 million metric tons, a drop of 1.78% from the previous year. The Compound Annual Growth Rate (CAGR) for the past five years shows a consistent average annual decrease of 1.15%. Notably, significant drops were recorded in 2016 and 2018 with annual declines of 9.91% and 9.43%, respectively. Conversely, there were slight upticks in 2015 and 2019 with growth rates of 2.25% and 1.47%. Future forecasts predict continued declines with a forecasted 5-year CAGR of -1.58%, projecting further contraction to 46.52 million metric tons by 2028.
Future trends to watch for:
- Emerging popularity of craft beers and premium beers that could affect overall volume.
- Impact of changing consumer preferences towards lower or non-alcoholic beverages.
- Regulatory changes and economic factors in key markets within the region.
- Technological advancements in brewing that may alter production efficiencies.
