The upcoming summer Olympics and the 2024 European Championship football tournament are expected to drive a rise in beer sales, according to a report by Reuters. After experiencing declines in sales for multiple quarters, some of the biggest brewers in the world, such as Heineken and Carlsberg, saw growth in the first quarter. For companies like Heineken, this marked the first quarterly increase in over a year.
Beer producers had been rapidly increasing prices to offset rising costs in recent years, impacting the amount of beer they were able to sell. Now, there is a shift towards volume growth driving revenue. Anheuser-Busch InBev also reported a stronger-than-expected performance in the United States in the first quarter, indicating positive trends in key markets for global beer sales.
According to the report by Reuters, global brewers are gearing up for a summer filled with strong beer sales driven by the Olympics and decreasing inflation. Companies like Anheuser-Busch InBev and Carlsberg have already started witnessing volume growth in most of their global markets. The upcoming summer Olympics in Paris and the 2024 European Championship football tournament are expected to contribute significantly to this trend.
Carlsberg’s CEO, Jacob Aarup-Andersen, expressed optimism about the events driving beer sales in western Europe. The expectation of more stable weather conditions compared to the previous year, along with easing inflation after price spikes, is likely to support beer volume growth as companies adjust their pricing strategies.