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GlobalData Reports Decline in Beer and Cider Over 2020

By May 24, 2020Top News

With the majority of bars worldwide still closed to consumers, beer manufacturers have struggled to shift their sales back into retail to offset their losses. Big brand Heineken reported a 14% decline in beer sales in March. The lockdown landscape is proving difficult regardless of scale, according to GlobalData analytics company. GlobalData expects the beer and cider industry to stand at a global value of U.S. $595.6 billion in 2020, reflecting a forecasted year-on-year (YoY) decline of 5% between 2019 and 2020. This is in stark contrast to a baseline growth of 3.2% expected over the same period, which suggested continued robust growth before COVID-19. In GlobalData’s Coronavirus (COVID-19) Tracker Consumer Survey, 73% of respondents from 11 countries surveyed stated that they drink alcohol, demonstrating a sizeable consumer base that remains active through online and brick-and-mortar retail. It is likely that the beer industry will see a significant rebound immediately after social-distancing recommendations are lifted.

 

 

 

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