According to a report by Reuters, the global beer industry is looking forward to a summer of strong sales, driven by the upcoming Olympics and decreasing inflation. After experiencing declines in sales for multiple quarters, some of the biggest brewers in the world, such as Heineken and Carlsberg, saw growth in the first quarter. For companies like Heineken, this marked the first quarterly increase in over a year.
Anheuser-Busch InBev also reported smaller volume declines than expected in the first quarter. The company’s CFO, Fernando Tennenbaum, mentioned that they were already witnessing volume growth in most of their global markets. The upcoming summer Olympics in Paris and the 2024 European Championship football tournament are expected to contribute to the rise in beer sales.
Carlsberg’s CEO, Jacob Aarup-Andersen, expressed optimism about the events driving beer sales in western Europe. The expectation of more stable weather conditions compared to the previous year, along with easing inflation after price spikes, is likely to support beer volume growth as companies adjust their pricing strategies.
Beer producers had been rapidly increasing prices to offset rising costs in recent years, impacting the amount of beer they were able to sell. Now, there is a shift towards volume growth driving revenue. Anheuser-Busch InBev also reported a stronger-than-expected performance in the United States in the first quarter, indicating positive trends in key markets for global beer sales.
