The current hot weather in Europe could give beer brewers a welcome boost to sales in a time where consumers are buying less beer in response to high price increases. Consuming about 35 billion liters of beer per annum, Europe is the second largest beer market in the world after China, which consumes 38 billion liters. Total retail sales value of beer is likely higher in Europe compared to China given average prices per liter are higher in Europe. Although Europe is large, other markets are growing quicker. High growth markets are India, Vietnam and South Africa, according to Japanese beer brewer Kirin.
Source: Kirin Holdings, 2023.