Beer consumption in Georgia increased by a CAGR 5.1% over 2016-22 and is expected to reach 133mn litres in 2023. Additionally, per capita beer consumption in Georgia is increasing and reached 45 litres in 2023, although it remains below the European average of 81 litres. 92% of beer consumption in Georgia is satisfied by local production, while the rest is imported, mainly from Germany, Russia and Belgium.
Beer production increased by a CAGR 3.0% in 2016-23, and is expected to reach 126mn litres in 2023.
Beer export grew by 98.7% y/y to US$ 7.9mn in 11M23, and is estimated to reach US$ 8.5mn for the full 2023 year, mainly as a result of increased sales in Kazakhstan and other CIS countries.
There are 4 main beer producers in the sector – Lomisi, Georgian Beer Company, Global Beer Georgia, and Argo. These companies also produce non-alcoholic beverages.
Sector turnover in 9M23 increased by 15.2% y/y to GEL 446.1mn, and according to our estimates, it will reach GEL 584.7mn for full-2023. Notably, c. 60% of total revenues are generated from beer sales and the rest from non-alcoholic beverages.
Price influencing factors – The price of beer in Georgia is affected by the cost of raw materials and the fluctuation of the GEL, because production is import-dependent.
Opportunities – The growth of the beer sector expected to be supported by the acquisition of new licenses of international brands and the increase in sales of craft beer.
