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Asia’s largest brewer, Budweiser Brewing Company APAC, is projecting the China market for beer to continue growing in the 2nd half of 2023 despite challenges, said its CEO Jan Craps.
Craps sees strong recovery in the beer industry with premiumisation leading the trend, as premium beer drinkers are still willing to spend for that ‘better drinking experience’.
Craps added that Budweiser is gaining market share in the beer segment especially during the summer time which recorded the highest demand for beer. In China, summer started from June to end August.
Overall, its revenue grew by more than 20% from pre-pandemic levels driven by premiumisation and digitisation of the beer industry.
