The trend of complication of Russian beer market is going on and in several directions at the same time. The range has got wider, the import and small segments are growing, namely craft beer, alcohol-free beer and special flavor beer. At the same time, all ex-mega brands and light lagers by Russian brewers are experiencing a decline of their shares. AB InBev Efes, Heineken, MBC and Pivzavod Trekhsosenskiy have exceeded the market, Carlsberg was developing slower than the market and Ochakovo as well as some other mid-sized breweries have been cutting down their volumes. To a big extent brewers’ performance was connected to their ability to reach agreement with networks, sacrifice their margin and enter new markets. Craft brewers are facing a serious danger of producers’ registration introduction – de facto licensing. ...
The global outlooks of the legal market of cannabis are excellent. It is possible to simultaneously imagine dry law repeal and craft brewing boom but not in one but in several consumer categories. For alcohol is contained in liquids and cannabis derivatives can be in three physical forms.The value of legal market of cannabis and its products can reach 10% of the world beer market in five years, and in 2030-2040 even reach the same scope provided the current rates of legalization and development of market infrastructure remain at the same level. Cannabinoids are actively integrating into the food industry from chewing gum to beverages deforming the pharmaceutical and alcohol markets, they influence the trends of healthy lifestyle and beauty. ...
Beer market of Kazakhstan acquired both traits of East European countries and South Eastern Asia taking a transitional position between them by many criteria and consumption style. Yet there is a positive trend in beer production which differs Kazakhstan from most of the neighboring countries. The market has remained consolidated in the hands of two international players because of its small size. However, it faces dynamic processes such as fast growth of draft beer sales, up and downs of regional companies and Carlsberg Group’s ultimate expansion. Excessive mainstream segment has declined over the recent years, yet, Zhigulevskoe and national brands with regional links have yielded their positions to a range of new products. In our review special attention was paid to regional analysis of the markets. In 14 regions of Kazakhstan we compared the companies’ positions, the market price segmentation and DIOT channel development. Besides we have compared the beer market of Kazakhstan to neighboring countries. ...
Thailand. ThaiBev’s Tipsy Valuation Risks a Hangover for Investors
Fully 63 percent of working-age Thais are teetotallers, according to a 2007 study, and yet trailing 12-month revenues at the maker of Chang beer and Mekhong rum have risen 53 percent over the past five years.
You might expect the death of Thailand's King Bhumibol Adulyadej last Thursday to have interrupted this revelry. Public drinking will be frowned on during the 12-month period of mourning and ThaiBev's own website was switched into somber black and white to mark the event. Alcohol sales will be more strictly limited to particular times of the day, according to the Guardian, and hypermarket giant Tesco Lotus suspended all sales of alcoholic drinks, according to AEC News Today.
ThaiBev shares' peak gain Friday
If that's bad news for ThaiBev, someone omitted to tell the shareholders. After falling last week as the king's health worsened, the Singapore-traded stock rebounded with a 1.7 percent gain ahead of the official announcement of his death. In a classic example of sell-the-rumor, buy-the-fact, it rose as much as 3.8 percent on Friday -- the sharpest gain since July. By the close of trade it had only modestly underperformed the benchmark SET index over the period since the King was hospitalized.
Part of this may represent doubts that the mourning period will turn out to be quite as stringent as everyone expects, though the wailing crowds thronging Thai streets since news of the king's death broke argue against such a conclusion.
ThaiBev's very success is a testament to the country's relaxed interpretation of some of its moral codes. Indeed, one 2002 paper found that Thai men who'd spent periods in their youth living in Buddhist temples were more likely to be heavy drinkers in adulthood than those who had not -- the opposite of what would be expected if the sanction on alcohol was unbreakable.
It's certainly not based on an expectation that ThaiBev's other businesses will help the company ride out a decline in drinking: Just 4.1 percent of its 2015 revenues came from overseas, and 13 percent from food and non-alcoholic drinks.
Shareholders at present give ThaiBev a forward price-earnings ratio of 21 -- bang on the median for brewers and distillers globally with more than $1 billion in trailing 12-month sales, and ahead of the likes of Diageo, Heineken, Carlsberg and Kweichow Moutai. If more Thais respond to their monarch's death by abstaining from alcohol than choose to drown their sorrows, that valuation could start looking tipsy.
This column does not necessarily reflect the opinion of Bloomberg LP and its owners.
-By market capitalization.
-It's often described as a whisky, but is made principally from sugar cane, not malted grains.
17 Окт. 2016