Heineken has announced its beer shipments have exceeded analysts’ expectations in the first quarter thanks to growth in Asia and Latin America. The world’s third-biggest brewer revealed beer volume had rose 7 percent, more than double the 2.4 percent that analysts had expected.

Reports had projected the global lager market to grow at a steady CAGR of 4.2% by 2020, but these figures released by Heineken come as a surprise. According to reports, the most prominent factor driving growth in the market is the increasing demand for premium lager products. Vendors have responded to this demand with the launch of premium products marked as authentic or genuine. As well as its flagship beer, Heineken also produces two other well-known brands – Tiger and Sol.

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