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Beer lovers across the world had better brace themselves as major global brewers move towards an impending price hike citing reasons like increased input costs and lower volumes.
Anheuser-Busch InBev announced on Tuesday that it plans to raise prices of its products, “across different price tiers†which means that both low-end as well as expensive brands will be affected. The company is the manufacturer of the world famous Budweiser beer besides being the largest brewer in the world.
Yet another global brewer, MillerCoors announced that it would be raising product prices in some markets. MillerCoors is the maker of popular brands like Miller Lite, Blue Moon and Coors Lite. However a company spokesperson clarified that the decision to raise prices is part of the company’s annual fiscal strategy and is not really compelled by the economic conditions.
Other brewers like Heineken and Corona are reluctant to raise prices further in a fiercely competitive market where customers are going for the cheapest brands on account of recession. However major players like Anheuser-Busch InBev and MillerCoors which together control around 80% of the beer market by volume in the United States are better placed to withstand the impact of a price hike.
[...] All across the internet, articles like this one from The Business Edition have been popping up reporting how America’s biggest breweries, MillerCoors and Anheuser-Busch, will be raising prices. One can only imagine that the rest of the macro-breweries will follow suit, as this is clearly in response to the fact that sales of macro-beers keep dropping while micro-beer sales are on the rise. [...]