Carlsberg is undergoing a dramatic transformation, moving decisively away from its traditional beer focus to capitalize on evolving consumer tastes and drive significant growth. The Danish brewer’s strategic pivot, spearheaded by CEO Jacob Aarup-Andersen, is already delivering results, contrasting sharply with performance among industry giants like AB InBev and Heineken.
A Fundamental Change in Strategy
For years, Carlsberg’s core beer brands were the engine of its business. However, recent data reveals a seismic shift. As of 2024, core beer brands now account for just 49% of total sales – a considerable drop from the 59% recorded in previous years. This change isn’t a failure of its established brands; rather, it’s a deliberate strategy to broaden its portfolio and unlock new revenue streams. Aarup-Andersen credits the shift to changing consumer preferences, particularly a rise in ‘moderation’ trends among drinkers.
The Rise of Soft Drinks
Central to this new approach is a significant investment in soft drinks. Pepsi now accounts for a third of Carlsberg’s overall sales, a testament to the brewer’s understanding of evolving consumer habits. This move has propelled Carlsberg to achieve superior volume growth – 1.8% annually (2019-2024) – outperforming AB InBev (0.5%) and Heineken (0.8%) during the same period. The acquisition of Britvic in the UK in 2025 further solidifies this strategic positioning within the soft drink market.
What This Means for Consumers
The implications of Carlsberg’s strategy for the consumer are multi-faceted. Consumers can expect a wider range of beverage options from the company, mirroring the evolving preferences seen in markets globally. This isn’t about abandoning beer; it’s about offering a more comprehensive selection for those seeking varied refreshment.
Pros and Cons
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Pros:
Diversified portfolio, potential for higher growth, responsiveness to consumer trends, increased market share.
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Cons:
Potential risk of diluting brand identity, reliance on external partnerships (like Pepsi), success dependent on continued consumer trends.
Looking Ahead
Despite a clear shift in focus, Aarup-Andersen emphasizes a ‘very, very strong brewing DNA’ remains central to Carlsberg’s operations. The company is prioritizing adaptability to meet consumer needs over the next decade, a crucial element for sustaining its impressive growth trajectory.
