Carlsberg Group, the Danish brewing company, reported a 1.9 percent increase in revenue in 2024, totaling DKK 75.01 billion ($10.37 billion), and a 2.8 percent rise in operating profit, reaching DKK 11.41 billion.
In China, Carlsberg’s market share increased. Carlsberg’s CEO, Jacob Aarup-Andersen, notes that while the Chinese beer market declined by 4 percent in 2024 due to a weak consumer environment and poor summer weather, signs of recovery were evident in the fourth quarter. The company aims to further expand its market share in China and outperform overall market growth in 2025.
Industry experts highlight that self-pleasing consumption, diversification, and personalization are shaping the next phase of China’s premium beer segment. Craft beer has steadily gained traction, now holding 8 percent of the domestic beer market, leading to a surge in new craft and microbreweries catering to niche markets. Currently, China has over 10,000 craft breweries with an annual production of less than 100,000 metric tons.
Carlsberg experienced mixed results across its Southeast Asian markets during the year 2024. The company reported strong volume growth in Vietnam and Malaysia, which helped offset declines in other regions. In Laos, volumes grew by a low-single-digit percentage, reaching an all-time high of over 8 million hectoliters, despite macroeconomic challenges and several price increases during the year. However, in Cambodia, the company faced a continued volume decline in its Sting energy brand.
Carlsberg’s presence in Thailand remains a sad chapter in the history of the group.
Overall, Carlsberg’s performance in Southeast Asia reflects a combination of market-specific challenges and successes, contributing to the company’s strategic focus on premiumization and sustainable growth in the region.
Source: Carlsberg
