Global brewers are gearing up for a successful summer with robust beer sales expected due to the Olympics and slowing inflation. According to Reuters, after facing a decline for several quarters, major brewers such as Heineken and Carlsberg have reported growth in the first quarter. This marks the first quarterly growth in over a year for companies like Heineken.
Anheuser-Busch InBev also reported a smaller-than-expected drop in volumes in the first quarter, indicating positive momentum. The company’s CFO, Fernando Tennenbaum, mentioned that they were already seeing volume growth in most of their global markets. The upcoming summer Olympics in Paris and the 2024 European Championship football tournament are expected to further boost beer sales.
Carlsberg’s chief executive, Jacob Aarup-Andersen, expressed optimism about beer volume growth in mature markets like western Europe. He noted that events like the Olympics could help drive sales, especially considering less extreme weather conditions compared to previous years.
Slowing inflation is also anticipated to aid beer volume growth as companies gradually reduce their price hikes. Rising costs of ingredients like barley and aluminum led to rapid price increases in recent years. Now, companies are shifting their focus towards volume growth as a revenue driver rather than relying solely on price increases.
Anheuser-Busch Inbev’s performance in the United States also exceeded expectations in the first quarter, according to Reuters. Overall, global brewers are looking forward to a promising summer with positive growth prospects in the beer market.