The beer production value in Austria initiated a growth period from 2013 to 2018, reaching a peak in 2018 with a value of 1.17 billion Euros. From 2019 onwards, however, the industry experienced a consistent decline, with substantial drops seen in 2020 (due to likely COVID-19 impacts) and continued reductions through to 2023. As of 2023, the beer production value stands at 0.8634 billion Euros. The year-on-year variations in 2022 and 2023 showed decreases of 6.56% and 5.62%, respectively. The compound annual growth rate (CAGR) over the last five years reveals an average annual decline of -5.85%.
Forecasted data anticipate a continued downward trend, projecting the beer production value to reduce to 0.7253 billion Euros by 2028, with an average annual decline or CAGR of -2.48% for the forecasted period. The forecasted 5-year growth rate indicates an overall reduction of 11.8% over this period.
Future trends to watch for include potential shifts due to changing consumer preferences towards craft beers and non-alcoholic alternatives, regulatory changes, or economic factors impacting disposable income and thus beer consumption. Monitoring these factors could provide insights into market dynamics and help in strategizing for potential market recovery or new opportunities.
