Beer market to reach over 220bn

THE BEER market in Asia Pacific is forecast to reach 220.36 billion by 2020, based on projections in a report by Transparency Market Research. Beer, which is one of the most consumed alcoholic drinks in the region, comes in three types–premium, mainstream and economy. Mainstream remains the most popular because it is manufactured by major brands within the country where it is consumed. The price is therefore reasonable. Mainstream accounts for the largest share at 33.5%. Consumption of premium beer will grow at a CAGR of 4.6%, as disposable incomes increase amongst consumers in the region. The top three markets for beer are China, India and Japan. China was the largest market for beer in 2013. Its growing and young (21-35) population drives demand. A notable increase in consumption is also observed in Viet Nam, Singapore, Australia as well as India.