The beer market in South Africa recorded a volume of 3.06 million metric tons in 2023. Reviewing the data from 2014 onwards, we observe fluctuation trends with significant reductions and recoveries. The market volume decreased by 0.33% year-on-year from 2022 to 2023. The 5-year compound annual growth rate (CAGR) from 2018 to 2023 stands at -0.28%, indicating a slight downward trend over this period.
Notable variations in the past include a sharp decline of 17.29% in 2020 due to factors likely influenced by the global pandemic, followed by a significant recovery of 20.05% in 2021. However, recent years have shown minimal fluctuations with a steady decline forecasted through 2028 with an average growth rate of -0.28% over the next five years.
Future trends to watch for include potential impacts from changing consumer preferences, macroeconomic factors, and any regulatory changes impacting the alcohol industry. Environmental concerns and sustainability practices might also play a crucial role in shaping the future of the beer market in South Africa.