Less than a year after the alarm bells started, it would appear that the beer market in Brazil is poised to turn a corner in 2014, with hopes being pinned on this Summer's FIFA World Cup soccer tournament in the country.

Back in April, we flagged a spate of tough numbers from Brazil for international drinks companies, with Anheuser-Busch InBev and Heineken blaming the country for hampering their overall performances. New, stricter drink-driving laws, along with a shift in consumption from single- to multi-serve presentations and from the traditional 'mom & pop' outlets towards supermarkets were overshadowed by high food inflation and a slowdown in growth of disposable income.

In a note to clients today, UBS flagged how bad things have been in recent months for brewers. “At the start of 2013,” the analyst says, “we expected the Brazilian beer market to deliver volume growth of +3.9% for the year. Our forecast has been downgraded to -3% throughout the course of the year.”

For the year ahead, however, UBS believes the worst is over. “We see market volume growth underpinned by easy year-on-year comparables, World Cup effect (2% to 3% point volume benefit for the full year), and some sequential easing of food & beverage inflation.”

One thing to bear in mind, though: Booming alcohol sales during major sporting events have historically been followed by a hangover period, with sales before, during and after the event pretty much levelling out.

Here's hoping Brazil can buck that trend.