United Breweries Ltd (UBL), which owns the Kingfisher brand of beer, is expecting further acquisitions and entry of new players in the Indian beer market, despite disruptions due to COVID-19 and higher taxes by some States, the company said in its annual report. The country’s beer market has been strengthening on account of higher disposable income, rising preference for low alcohol beverage and gradual social acceptance, the report said, adding that these factors will propel “huge growth in the coming years.”
Besides, UBL, a market leader in the segment, also expects the export of beer to grow with support from the government. “The maturing beer market, combined with the support of government incentives on exports, will positively open up higher export potentials for Indian beer brands,” it said in its FY20 annual report.
