With more sporting events in the summer such as the ongoing Euro 2024, the Copa America and the Summer Olympics, analysts think that beer demand will gradually improve.
Sporting events such as the ongoing Euro 2024, the upcoming Copa Americana and Paris Olympics, coupled with hotter weather, are expected to drive up demand for the beverage. "The beer market has shown a clear growth trend, and major beer brands have competed to launch products and services that match scenario-based consumption," according to a note by Chinese online database QiChaCha, which revealed that beer-related enterprises in China had grown by more than 7,000 last year.
The trend favoring higher-end beer is expected to boost margins for breweries, further aided by cheaper barley prices that are driving costs lowers, Sun and Lei said.