Chongqing Brewery Strives to Reaccelerate Volume Growth

Chongqing Brewery reaches its current scale through a series of mergers and acquisitions, including the takeovers of several brewing plants around Chongqing city in the 1990s and the restructuring with Carlsberg’s China operations in 2020. These acquisitions expanded the company’s distribution network in western China, which remains its core region to date. As a result, Chongqing Brewery held a predominant market share of 66% in this region as of 2022. Thanks to the company's significant presence in the on-trade channel, 82% of the company's sales mix in 2022 was derived from mainstream and above beers. This positioning has resulted in higher margins for Chongqing relative to its domestic peers, placing it second only to Budweiser APAC in terms of profitability.