China Brewery Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
China brewery market is expected to record a value of US$151.0 billion in 2026, rising at a CAGR of 5.07%, for the duration spanning 2022-2026. Factors such as growing barley import, low average retail price (ARP) of beer in China, rising beer consumption among millennial population and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by long-term health risks of excessive beer consumption, negative environmental impact of beer production and stringent government regulations. A few notable trends may include rising preferences for craft beers, surge in online penetration of beer sales, growing consumer inclination towards premium beers and rising consumption of non-alcoholic beers.
In China, there is a rising affinity for imported beer, driven by increase in overseas travel, a large number of students studying abroad and increasing desire for foreign goods. Chinese consumers are willingly opting for expensive imported beer brands over domestic brands. They try to emphasize quality rather than quantity. Owing to this, the trend of consuming premium beers is very high in the country, which is eventually contributing to the overall beer market growth.
The market is highly consolidated as top five players make up majority of the China beer market in terms of sales volume, with each major brewer having a relatively stable share. Major players are concentrating on the midmarket and premium segments, owing to the rising inclination of young consumers on the premiumization, which is expected to contribute to the beer market growth in China in coming years.
Scope of the report:
The report provides a comprehensive analysis of the China Brewery Market
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Carlsberg Group, Budweiser APAC, China Resources Enterprise, Tsingtao Brewery, Chongqing Brewery Co., Ltd. Beijing Yanjing Brewery) are also presented in detail.
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Content Source - Koncept Analytics