DUBLIN, April 20, 2016 /PRNewswire/ --
Heineken has announced its beer shipments have exceeded analysts' expectations in the first quarter thanks to growth in Asia and Latin America. The world's third-biggest brewer revealed beer volume had rose 7 percent, more than double the 2.4 percent that analysts had expected.
Reports had projected the global lager market to grow at a steady CAGR of 4.2% by 2020, but these figures released by Heineken come as a surprise. According to reports, the most prominent factor driving growth in the market is the increasing demand for premium lager products. Vendors have responded to this demand with the launch of premium products marked as authentic or genuine. As well as its flagship beer, Heineken also produces two other well-known brands - Tiger and Sol.
One of the key reasons behind this unexpected growth is the growth in the Asia-Pacific region, with beer volume rising 23 percent. This is almost five times larger than the analyst's estimate. Some of this growth can be attributed to the Vietnamese and Chinese New Year celebrations. A recent report on the beer market in China projected the demand for beer to continue to grow at 6% by 2025. It says that both production and demand will grow over the next decade.
The Dutch brewer says it anticipates stronger sales and profit in 2016, despite a slowdown in emerging markets like Nigeria. It has forecast gains in Asia, one of its three largest markets, with Tiger beer continuing to grow in popularity.
Although it's a more competitive market, beer consumption in Europe is also expected to continue its growth. For example, the beer market in Germany is forecast to grow at a CAGR of 1.19% and 0.63% in terms of revenue and volume by 2019.
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