Craft beer is an "opportunity" for small brewers

Craft beer is an "opportunity" for small brewers

Molson Coors and Carlsberg are the best-placed multi-national brewers to “weather the storm” of craft beer and neutralise its "threat" to larger players, an analyst has said.

Nomura said in a note today (16 May) that Molson Coors has managed a “small is beautiful” approach better than rivals after years of focusing on scale. Carlsberg, meanwhile, is finding success with a strong focus on local, and some global, brands, the analyst said.

The comments follow Nomura's attendance at the two-day Canadean International Beer Strategy conference in Prague, which ended yesterday.

“The overall theme from the conference is that the growth of craft represents both an opportunity (especially for small brewers) as well as a threat (especially for the larger players), not just in the US, but in most mature markets,” Nomura said.

The analyst also said Diageo remains its “preferred spirits company” because of its low exposure to a slowing China and wide-ranging presence in emerging Africa.

This week, Diageo's Asia-Pacific boss said he expects the spirits market in China to remain "soft" for the rest of the year.

Expert analysis

Global Beer Tax Tables, 2012

Global Beer Tax Tables, 2012

This report covers 58 markets and comprises a series of tables covering taxation base, historical excise rates, legal controls and a calculation of the total taxation burden on beer....read more