Research Report on Southeast Asia Beer Industry 2023-2032
Beer plays an important role in the lives of people in Southeast Asia. Vietnam has become the first in Southeast Asia and the third largest beer consuming country in Asia, and Singapore's Tiger Beer and Laos' Old Brand Beer are known as the world's top ten beers. With strong economic development and improved living standards, the demand for beer and other alcoholic beverages in Southeast Asia is growing, and there is huge room for the development of the beer market in Southeast Asia.
At the same time, the lower labor costs and land costs in Southeast Asia have attracted global beer producers to invest and build plants in Southeast Asia. Take Vietnam as an example, in 2015, Heineken Group acquired Vietnam's Vung Tau Brewery, and in 2022, the annual production capacity has reached 1.1 million kiloliters, which is Heineken Group's largest plant in Vietnam and the largest brewery in Southeast Asia.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.
CRI expects the beer industry in Southeast Asia to maintain growth from 2023-2032. On the one hand, global beer producers are gradually shifting their production capacity to Southeast Asia. On the other hand, the economic growth in Southeast Asia will boost the consumption of beer in the local market.
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