Beer - ASEAN

The Beer market in ASEAN is experiencing significant growth and development.

Customer preferences: Customers in ASEAN countries have shown a growing preference for beer as their beverage of choice. This can be attributed to several factors, including the increasing popularity of social drinking and the rise of a younger population with disposable income. Additionally, the cultural significance of beer in many ASEAN countries, where it is often enjoyed during celebrations and social gatherings, has contributed to its growing demand.

Trends in the market: One of the key trends in the ASEAN beer market is the rise of craft beer. Craft beer has gained popularity among consumers who are looking for unique and high-quality beer options. This trend can be seen in countries like Thailand and Vietnam, where craft breweries have emerged and are attracting a niche market of beer enthusiasts. Another trend in the market is the increasing popularity of flavored beers, such as fruit-infused or spiced beers. These innovative flavors are appealing to a younger demographic and are driving the growth of the beer market in ASEAN.

Local special circumstances: Each ASEAN country has its own unique set of circumstances that contribute to the development of its beer market. For example, in Thailand, the government has implemented policies to promote the consumption of locally produced beer, which has led to the growth of domestic breweries. In Vietnam, the beer market is heavily influenced by the country's beer culture, where beer is often consumed with street food and in social settings. In Indonesia, the Muslim-majority population has led to the development of a non-alcoholic beer market, catering to consumers who prefer alcohol-free options.

Underlying macroeconomic factors: The growth of the beer market in ASEAN can be attributed to several underlying macroeconomic factors. Firstly, the region's strong economic growth has led to an increase in disposable income, allowing consumers to spend more on discretionary items such as beer. Secondly, the growing urbanization in ASEAN countries has created a larger consumer base for beer companies, as urban dwellers tend to have higher purchasing power and are more likely to consume beer. Lastly, the increasing tourism in the region has also contributed to the growth of the beer market, as tourists often seek out local beer brands as part of their cultural experience. In conclusion, the Beer market in ASEAN is experiencing significant growth and development. Customer preferences for beer, the emergence of craft beer and flavored beers, local special circumstances, and underlying macroeconomic factors are all contributing to the growth of the market. As the ASEAN region continues to evolve and develop, it is expected that the beer market will continue to expand and offer new opportunities for both local and international beer companies.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.