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Beer industry performance fell almost 13% in 2020

Drinks

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The performance of the beer industry fell by 12.7% to HUF 100.3 billion during 2020 because of the coronavirus pandemic while the food industry's performance overall managed to edge up by 1%, state news wire MTI reports, citing data by the Central Statistical Office (KSH).

As a result of the restrictions, in the spring and late fall months catering establishments closed or received only a limited number of guests, and cultural and sports events, festivals, city and village fairs were mostly canceled, restricting demand.

Domestic sales, which account for around 94-96% of annual revenue in the sector, dropped by 13.5%.

The price of beer has been rising since 2017, but the rate of price increases slowed last year, also because of the pandemic. Beer prices in 2020 were on average 25% higher than in 2010.

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