China is Now the World's Biggest Beer Market
Americans love beer, as evidenced by any Super Bowl commercial break or St. Patrick's Day celebration or, heck, really any occasion. But while we're seen as the world leader in many things, beer consumption isn't one of them. That title officially goes to the Chinese who last year guzzled a collective 25 million liters of beer to Americans' paltry 18 million, Fox Business reports.
American brewers and entrepreneurs are already taking advantage of the new opportunity for profits. A pre-merger Anheuser-Busch InBev acquired a couple of Asian breweries in the past few years and joint venture between SABMiller and a Chinese company has spawned a brew that is now the world's best-selling beer. Tampa-based bar franchise World Beer is has already opened locations in twenty states across China and more on the way.
Like any booming beer market, China isn't just pouring pints of Bud and Miller. As American and European-style pubs and bars become more popular, so too is the craft beer business on the rise. Much like in the States, young people are demanding variety in their choices and disposable incomes allowing for the purchase of premium product, with stout style beers seeing the most growth. Of course, craft beer only begets more craft beer interest. If China's homegrown beer industry follows the same path, perhaps American beer fans' next obsession will be Beijing Brown Ales and Shanghai Shandies.