Table of Contents
The Top 10 Beer Companies
Executive summary 14
Industry overview 14
A-B InBev 15
Heineken 15
SABMiller 16
Kirin Brewery Holdings (Kirin) 16
Carlsberg 17
Asahi Breweries 17
Grupo Modelo 18
Molson Coors 18
FEMSA (FEMSA Cerveza) 19
Diageo 19
Chapter 1 Introduction 22
What is the report about? 22
Methodology 22
Chapter 2 Industry overview 26
Summary 26
Introduction 26
Market dynamics 27
Global beer market size by value 27
Global beer market size by volume 28
Beer sales across geographies 29
Beer and other alcoholic beverages 31
Beer market drivers and resistors 33
Competitive landscape 34
Top 10 companies based on sales 34
Top 10 companies based on volumes 34
Competitive positioning of the 10 beer companies 35
Geographic diversification 37
Trends 38
Consolidation underway 38
Rising prices of raw materials 39
Shift in consumer preference for healthy beer 40
Western Europe and North America 40
Japan 41
Premiumization of beer 41
Developing new products, appliances and brand extension in mature markets 41
Developing local premium brand portfolio in emerging markets 42
Chapter 3 A-B InBev 44
Summary 44
Company overview 45
Recent financial performance 45
Performance by business segments 47
Growth strategies 47
Focus on cost reduction initiatives 47
Reviving sales of flagship brands 48
Acquisitions and divestments 48
SWOT analysis 50
Chapter 4 Heineken 52
Summary 52
Company overview 53
Recent financial performance 53
Performance by business segments 55
Growth strategies 55
Driving profit growth through cost saving initiatives 55
Exploring growth opportunities in emerging markets 56
Acquisitions and divestments 57
SWOT analysis 58
Chapter 5 SABMiller 60
Summary 60
Company overview 61
Recent financial performance 61
Performance by business segments 63
Growth strategies 63
Expanding in the African beer market 63
Acquisitions and divestments 64
SWOT analysis 66
Chapter 6 Kirin 68
Summary 68
Company overview 69
Recent financial performance 69
Performance by business segments 70
Growth strategies 71
Strengthening product portfolio 71
Developing healthy beer beverages 71
Rebranding core brands to reinvigorate sales 71
Expanding imported beer portfolio 72
Acquisitions and divestments 72
SWOT analysis 73
Chapter 7 Carlsberg 76
Summary 76
Company overview 77
Recent financial performance 77
Performance by business segments 79
Growth strategies 79
Investing in Russian beer market 79
Sustaining growth in Northern and Western Europe 80
Premiumization of product mix 80
Streamlining operations to expand margins 81
Expanding in emerging Asian beer markets 81
Acquisitions and divestments 82
SWOT analysis 83
Chapter 8 Asahi Breweries 86
Summary 86
Company overview 87
Recent financial performance 87
Performance by business segments 89
Growth strategies 89
Developing new products to revive beer sales in Japan 89
International expansion 91
Restructuring unprofitable international operations 91
Acquisitions and divestments 92
SWOT analysis 92
Chapter 9 Grupo Modelo 94
Summary 94
Company overview 95
Recent financial performance 95
Performance by business segments 97
Growth strategies 97
Expanding in international markets through partnerships and alliances 97
Augmenting product portfolio through imports 98
Strengthening presence in off-premise channels 99
Strategic investments in beer infrastructure 99
Acquisitions and divestments 100
SWOT analysis 101
Chapter 10 Molson Coors 104
Summary 104
Company overview 105
Recent financial performance 105
Performance by business segments 107
Growth strategies 107
Expanding global reach through partnerships and alliances 107
Acquisitions and divestments 108
SWOT analysis 109
Chapter 11 FEMSA (FEMSA Cerveza) 112
Summary 112
Company overview 113
Recent financial performance 113
Performance by business segments 115
Growth strategies 115
Consolidating market share through new product launches 115
Acquisitions and divestments 116
SWOT analysis 117
SWOT analysis 117
Chapter 12 Diageo 120
Summary 120
Company overview 121
Recent financial performance 121
Performance by business segments 123
Growth strategies 123
Restructuring breweries to generate cost savings 123
Expanding in international markets through alliances 124
Acquisitions and divestments 124
SWOT analysis 125
Chapter 13 11–20 companies 128
Dr Oetker (Radeberger) 128
Company overview 128
Recent financial performance 128
Tsingtao Brewery 130
Company overview 130
Recent financial performance 130
Sapporo Holdings 132
Company overview 132
Recent financial performance 132
Suntory 134
Company overview 134
Recent financial performance 134
Foster's 135
Company overview 135
Recent financial performance 135
China Resources 137
Company overview 137
Recent financial performance 137
Efes 139
Company overview 139
Recent financial performance 139
Asia-Pacific Breweries 141
Company overview 141
Recent financial performance 141
San Miguel 143
Company overview 143
Recent financial performance 143
ThaiBev 145
Company overview 145
Recent financial performance 145
Chapter 14 Appendix 148
Glossary 148
Index 149
List of Figures
Figure 2.1: Global beer market size by value ($bn), 2007–12 28
Figure 2.2: Global beer market size by volume (m hectoliters), 2007–12 29
Figure 2.3: Beer sales across geographies, 2004–08 30
Figure 2.4: Beer and other alcoholic beverages, CAGR 2004–08 (%) 31
Figure 2.5: Beer market drivers and resistors 33
Figure 2.6: Top 10 beer companies growth, 2005–08 36
Figure 3.7: A-B InBev financial performance ($m), 2004–08 46
Figure 3.8: A-B InBev SWOT analysis 50
Figure 4.9: Heineken financial performance ($m), 2004–08 54
Figure 4.10: Heineken SWOT analysis 58
Figure 5.11: SABMiller financial performance ($m), 2004–08 62
Figure 5.12: SABMiller SWOT analysis 66
Figure 6.13: Kirin financial performance ($m), 2004–08 70
Figure 6.14: Kirin SWOT analysis 73
Figure 7.15: Carlsberg financial performance ($m), 2004–08 78
Figure 7.16: Carlsberg SWOT analysis 83
Figure 8.17: Asahi Breweries financial performance ($m), 2004–08 88
Figure 8.18: Asahi Breweries SWOT analysis 92
Figure 9.19: Grupo Modelo financial performance ($m), 2004–08 96
Figure 9.20: Grupo Modelo SWOT analysis 101
Figure 10.21: Molson Coors financial performance ($m), 2004–08 106
Figure 10.22: Molson Coors SWOT analysis 109
Figure 11.23: FEMSA (FEMSA Cerveza) financial performance ($m), 2004–08 114
Figure 11.24: FEMSA (FEMSA Cerveza) SWOT analysis 117
Figure 12.25: Diageo financial performance ($m), 2005–08 122
Figure 12.26: Diageo SWOT analysis 125
Figure 13.27: Dr Oetker (Radeberger) financial performance ($m), 2005–08 129
Figure 13.28: Tsingtao Brewery financial performance ($m), 2004–08 131
Figure 13.29: Sapporo Holdings financial performance ($m), 2006–08 133
Figure 13.30: Foster's financial performance ($m), 2004–08 136
Figure 13.31: China Resources financial performance ($m), 2006–08 138
Figure 13.32: Efes financial performance ($m), 2004–08 140
Figure 13.33: Asia-Pacific Breweries financial performance ($m), 2004–08 142
Figure 13.34: San Miguel financial performance ($m), 2006–08 144
List of Tables
Table 2.1: Global beer market size by value ($bn), 2007–12 27
Table 2.2: Global beer market size by volume (m hectoliters), 2007–12 28
Table 2.3: Beer and other alcoholic beverages, CAGR 2004–08 (%) 32
Table 2.4: Top 10 beer companies based on sales ($m), 2008 34
Table 2.5: Top 10 beer companies based on sales volumes (m hectoliters), 2008 35
Table 2.6: Top 10 beer companies sales growth, 2005–08 37
Table 2.7: Major M&A deals, 2008 38
Table 3.8: A-B InBev snapshot 44
Table 3.9: A-B InBev financial performance ($m), 2004–08 46
Table 3.10: A-B InBev business segment performance ($m), 2008 47
Table 3.11: A-B InBev divestments, 2007–09 49
Table 4.12: Heineken snapshot 52
Table 4.13: Heineken financial performance ($m), 2004–08 54
Table 4.14: Heineken business segment performance ($m), 2008 55
Table 4.15: Heineken partnership and alliances, 2007–09 56
Table 4.16: Heineken acquisitions, 2007–09 57
Table 5.17: SABMiller snapshot 60
Table 5.18: SABMiller financial performance ($m), 2004–08 62
Table 5.19: SABMiller business segment performance ($m), 2008 63
Table 5.20: SABMiller acquisitions, 2007–09 65
Table 6.21: Kirin snapshot 68
Table 6.22: Kirin financial performance ($m), 2004–08 69
Table 6.23: Kirin business segment performance ($m), 2008 70
Table 7.24: Carlsberg snapshot 76
Table 7.25: Carlsberg financial performance ($m), 2004–08 78
Table 7.26: Carlsberg business segment performance ($m), 2008 79
Table 7.27: Carlsberg acquisitions, 2007–09 82
Table 8.28: Asahi Breweries snapshot 86
Table 8.29: Asahi Breweries financial performance ($m), 2004–08 88
Table 8.30: Asahi Breweries business segment performance ($m), 2008 89
Table 8.31: Asahi Breweries beer brands in select categories 90
Table 9.32: Grupo Modelo snapshot 94
Table 9.33: Grupo Modelo financial performance ($m), 2004–08 96
Table 9.34: Grupo Modelo business segment performance ($m), 2008 97
Table 9.35: Grupo Modelo partnerships and alliances, 2007–09 98
Table 9.36: Grupo Modelo imported beer brands 99
Table 10.37: Molson Coors snapshot 104
Table 10.38: Molson Coors financial performance ($m), 2004–08 106
Table 10.39: Molson Coors partnership and alliances, 2007–09 107
Table 11.40: FEMSA (FEMSA Cerveza) snapshot 112
Table 11.41: FEMSA (FEMSA Cerveza) financial performance ($m), 2004–08 114
Table 11.42: FEMSA (FEMSA Cerveza) business segment performance ($m), 2008 115
Table 12.43: Diageo snapshot 120
Table 12.44: Diageo financial performance ($m), 2005–08 122
Table 12.45: Diageo business segment performance ($m), 2008 123
Table 12.46: Diageo partnership and alliances, 2007–09 124
Table 13.47: Dr Oetker (Radeberger) snapshot 128
Table 13.48: Dr Oetker (Radeberger) financial performance ($m), 2005–08 129
Table 13.49: Tsingtao Brewery snapshot 130
Table 13.50: Tsingtao Brewery financial performance ($m), 2004–08 131
Table 13.51: Sapporo Holdings snapshot 132
Table 13.52: Sapporo Holdings financial performance ($m), 2006–08 133
Table 13.53: Suntory snapshot 134
Table 13.54: Foster's snapshot 135
Table 13.55: Foster's financial performance ($m), 2004–08 136
Table 13.56: China Resources snapshot 137
Table 13.57: China Resources financial performance ($m), 2006–08 138
Table 13.58: Efes snapshot 139
Table 13.59: Efes financial performance ($m), 2004–08 140
Table 13.60: Asia-Pacific Breweries snapshot 141
Table 13.61: Asia-Pacific Breweries financial performance ($m), 2004–08 142
Table 13.62: San Miguel snapshot 143
Table 13.63: San Miguel financial performance ($m), 2006–08 144
Table 13.64: ThaiBev snapshot 145
Table 13.65: ThaiBev financial performance ($m), 2007–08 146