inbev啤酒中国市场拓展的哈佛mba毕业论文.pdf

The World’s Largest Brewer in The World’s Largest Market: A Strategic Analysis of InBev’s Expansion to China 
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REV: MAY 3, 2007
GONCALO NEVES CORREIA
RODOLFO CHUNG
The Largest Brewer in the Largest Market: A
Strategic Analysis of InBev’s Expansion to China

In 2005, China surpassed the US to e the largest beer market in the world in volume terms,
accounting for 19% of world consumption. This, combined with its high growth rate (value 01-06
CAGR of %1), makes China a potentially very interesting market to be present in for the world
beer majors. However as discussed in RC Strategy and AGS, a large market size and high growth are
on their own not enough to justify diversification into this market. This paper focuses on InBev, the
world’s largest brewer, and its expansion into China. We specifically try to analyze whether it makes
strategic sense for pany to be present in China and if so how they should develop their
expansion strategy in the country.
We first provide a general overview of the global and Chinese beer markets, profiling the main
characteristics petitors, before analyzing in detail the specific case for InBev in China.

Part 1 – General Industry Profiling and Discussion
World Beer Market Overview
In 2005 the world beer market stood at ca. 155bn litres and ca. US$ 440bn, exhibiting growth rates
of % and % in volume and value terms Within these numbers however, there are
strong regional differences in market sizes and growth rates as we will see.
It can be argued that one important trend the global beer market has seen over the past 5 years is
that of consolidation, not only at a regional level, but also on a global scale. Over the 2001-2004
period, the global market share of the top 5 players in the industry has increased from 27% to 36%
(Exhibit 1). Over this time, among other important M&A activity in the industry, both InBev and
SABMiller were created, curren