SAB grows market share as South Africans return to higher beer consumption after 2023 drop

South African Breweries (SAB) is delivering strong results, according to parent company AB InBev’s fourth quarter and full year figures for 2024.

While AB InBev saw beer sale volumes down overall globally, South Africa experienced continued growth.

The brewing giant said their 'above core' beer brands in SA grew volumes in the low teens, driven by Corona and Stella Artois.

Their core beer portfolio also continued to grow, delivering a mid-single digit volume increase.

In the Beyond Beer portfolio, volumes were up by high-single digits; led by Brutal Fruit, Flying Fish and Redd’s.

Stephen Grootes asks SAB CEO Richard Rivett-Carnac how they managed to buck what seemed to be a worldwide trend.

Rivett-Carnac notes that while they did see a volume decline in the beer industry in 2023 due to the strain on consumers, it has now returned to growth.

For SAB, this is underpinned by investment behind their top brands, specifically with their sales and marketing budget.

"It really was about consistently investing behind our brands to deliver the growth, and fortunately when you have a growing business it often does result in strong financial results which we were lucky enough to deliver last year."

Richard Rivett-Carnac, CEO - South African Breweries

"In 2023 and early 2024 we did see consumers looking a lot for value, particularly with pack size... but more recently we've seen the market return to more typical behaviour. People are happy to treat themselves a bit, buying a premium beer or trading in to Beyond Beer."

Richard Rivett-Carnac, CEO - South African Breweries

The long-term trend is for the premium beer market to grow ahead of the overall beer market, he concludes.

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