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.
Pointing to the Euro 2024, Chinese online database QiChaCha noted that bars and stores have been decorated with European Cup merchandise and they are offering sports-themed meals to cash in on the frenzy.
"The European Cup ignites the 'beer economy,'" the firm said, adding that China's beer industry had shown a clear trend towards high-end offerings.
They also expect China's beer industry to continue to benefit from a product mix upgrade, besides lower barley prices and packaging material prices in 2024.
Carlsberg chief executive Jacob Aarup-Andersen said that brewers will be boosted by events such as the Paris Olympics and the Euro 2024, according to the report.
Persons:
Lei Yang, Sun, QiChaCha, Lei, Carlsberg, Jacob Aarup, Andersen, Aarup
Organizations:
CGS, Sporting, Americana, Paris, European, Heineken, Carlsberg, Paris Olympics
Locations:
China, Asia