Oktoberfest Cancellation Likely To Give Germany's Beer Industry A Hangover
Following a 5.1% volume decline last year, the cancellation of the annual Oktoberfest celebrations means that German brewers are likely to continue to see subdued sales in 2021, according to GlobalData.
Around six million people usually attend Oktoberfest in Germany, which takes place in September and October, however authorities pulled the plug on this year's event back in May, in what Munich mayor Dieter Reiter said "wasn't an easy decision".
'Gloomy Outlook' For Beer Sector
Germany's beer market volume dropped to 7.7 million litres last year, with GlobalData analyst Holly Inglis suggesting that the "gloomy outlook" for the trade looks set to continue, despite the lifting of many restrictions.
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