This year, the beer market could stabilize: the recovery of demand is supported by major sporting events, such as the UEFA European Championship and the Olympics. Borsodi Brewery has acquired the distribution rights for another premium brand, Coors, thus adding to its portfolio three of the world’s top ten most valuable beer brands on the Hungarian market.
Borsodi Brewery is targeting consumers least affected by last year’s crisis with a premium product. The company’s management announced that starting from February, they will distribute one of the world’s most renowned beer brands, Coors, in Hungary.
This pale beer is not yet available elsewhere in Europe,
so the owners of the over 150-year-old beer brand have shown trust in the Hungarian market, which experienced a recession last year. According to the January announcement of the Hungarian Brewers’ Association, beer sales in 2023 decreased by 10 per cent compared to 2022.
The restructuring of demand continued since the market for lower-category products is shrinking, middle-category sales remained unchanged, while sales in the premium and super premium segments continued to increase.
The above trends provide a solid foundation for the introduction of the new product, Coors, sourced from the Rocky Mountains, by Borsodi Brewery.
Coors comes to Hungary directly from Prague, and what makes it interesting is that although it is brewed there, it is only released here: it is not yet available in the Czech Republic.
Regarding the market expectations for 2024, Zsolt Vuleta, CEO and Commercial Director of Borsodi Brewery, told Világgazdaság that after the past few years, they expect rather positive changes and stabilization of the beer market. The recovery of demand is supported this year by major sporting events such as the UEFA European Championship and the Olympics.
The last peaceful year was in 2019, after which in 2020 and 2021 COVID came, with hospitality venues closing several times, and consumption not shifting to the shelves of grocery stores. During the pandemic, social opportunities vanished, and then 2022 was overshadowed by the war in Ukraine, and 2023 by inflation. Moreover, beer inflation has diverged from the average, with very strong consumer price increases leading to a decline in purchases. However, there is reason for optimism as the decline was less pronounced in the case of premium products, where demand is stable and growing, with Hungarian consumers being open to innovation and eager to try new products. The recognition of all this and the activities of Borsodi Brewery have led them to acquire the distribution rights for Coors, further enriching their portfolio of top brands, emphasized the company’s leadership.
While the 51-year-old Borsodi beer will also undergo changes this year, it will remain ‘on the frothy side of life’, that is, one of the most well-known advertising slogans in Hungary will not be replaced.
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Sources: Hungarian Conservative/Világgazdaság
