Asia Pacific is the largest beer market region globally, although leading markets of China and Japan are on the decline, induced by ageing demographics and switching to alternative beverages. Increased disposable income and the premiumisation trend see a shift to value growth rather than volume, with craft beer and imported premium lager expected to flourish. Led by a relatively young population, Southeast Asia is projected to be the key growth contributors for beer volume growth moving ahead.
sia Pacific is the largest region for beer by total volume globally, while China is the largest global market. However, Asia Pacific saw a beer volume consumption decline over the review period, attributed to China’s decrease from ageing demographics and a shift to alternative beverages such as spirits. Even gains from fast-growing developing markets such as India, Vietnam and the Philippines were unable to offset this decline.
Rising disposable income across Asia Pacific and the premiumisation trend driven by millennials, who are more willing to experiment with new tastes and more premium flavours, is shaping a shift in consumption towards a value focus. Imported premium lager and craft beer benefit most from this, with dark beer growing rapidly in markets such as China, Japan and South Korea due to the common usage of ale in craft beer.
Ageing demographics is expected to be a key challenge limiting the growth of beer markets in Asia Pacific over the forecast period, with the leading markets of China and Japan among those projected to decline, while other ageing populations such as South Korea, Hong Kong, Thailand and Singapore are expected to see slow growth. Nevertheless, ageing demographics also creates growth opportunities for niche beer categories such as non/low alcohol beer, which is expected to benefit from increased health-consciousness among ageing populations, especially in the Japanese market.
Despite the overall beer decline in Asia Pacific, Southeast Asia continued strong growth, buoyed by leading markets Vietnam and the Philippines, as well as Cambodia, which has the highest beer per capita consumption in the region. Southeast Asia is projected to be the key growth driver in Asia Pacific over the forecast period as well, boosted by increased disposable income and a relatively young population.
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