

Carlsberg A/S
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Expansion in Asia Pacific is a long-standing focus for Carlsberg as it contends with maturity and volume stagnation in many of its established European beer markets. Its leading market, China, remains central to strategy, while non-alcoholic beer offers a bright spot in Europe, as moderation influences demand. However, economic uncertainty means Carlsberg is navigating a highly challenging environment, with beer volumes under pressure in much of the world.
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