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Carlsberg closes 2025 with 18% revenue growth

Exclusive interview with Serena Savoca, Marketing & Corporate Affairs Director Italy

Over the past decade, the Italian beer market has experienced significant expansion: per capita consumption has grown by over 20%, from approximately 30 liters annually in 2014 to 36.4 liters in 2024, after reaching an all-time high of 37.8 liters in 2022 (Assobirra, Annual Report 2024). This trend demonstrates the progressive entrenchment of beer in the country's drinking habits.

In light of these data, we asked Serena Savoca, Marketing & Corporate Affairs Director for Carlsberg Italy, to take stock of the 2025 numbers and the performance of the first months of 2026 for the Danish brewery.

Savoca explains, "2025 was a solid year for the entire Carlsberg Group—which closed with revenue growth of 18.8%, reaching DKK 89.1 billion—and for Carlsberg Italy as well: the strategic choices made by the headquarters have had a positive impact locally, where, in line with other countries, we have taken significant steps toward creating a broad, diverse, and inclusive beverage portfolio. Despite an uncertain geopolitical environment and growing international tensions, in our country, the first months of 2026 are proving to be in line with the trends that emerged last year and positive in terms of sales, especially in the non-alcoholic beverage segments—where we are seeing above-market growth (+108% in 2025)—and premium beers.

How much does the spread of Dry January impact the beer world and Carlsberg in particular?

In recent years, we've seen several trends gaining ground in consumer habits, increasingly driven by a focus on well-being, mental and physical health, and the desire for more conscious and inclusive socializing. Young people, in particular, are increasingly inclined to choose non-alcoholic beers, and over half are willing to drink no- or low-alcohol beers depending on the occasion: recent data shows that 41% of young people between the ages of 18 and 24 don't regularly consume alcohol, an increase of 8 percentage points over the past five years. In this context, new phenomena are spreading, such as zebra striping —the conscious alternation between alcoholic and non-alcoholic beers on the same occasion—which demonstrate how non-alcoholic consumption doesn't replace traditional drinking, but rather expands drinking opportunities while preserving the pleasure of socializing, now reinterpreted in a new vision that embraces a search for a balance between pleasure and responsibility, without sacrificing fun. It is precisely in light of these trends that phenomena like Dry January are becoming increasingly established among consumers. Therefore, it's not so much Dry January itself that's impacting the beer world, but rather the new, comprehensive consumption patterns that are driving strong growth in the non-alcoholic beer segment. Penetration is still limited, but it's a solid trend driven by consumers seeking products that combine flavor, lightness, and drinkability. For the beer industry, this requires anticipating trends, making targeted investments in research and innovation to continually expand our offerings and respond to a changing market. At Carlsberg Italia, our commitment has always been to listen to and respond to the needs of all consumers, striving to meet ever-changing tastes and styles with the broadest, most inclusive, and most diverse offering possible.

The 2026 edition of Beer&Food Attraction featured no- or low-alcohol options. How is Carlsberg Italia addressing this new consumption trend?

Like Carlsberg Italy, our vision for the low- and no-alcohol segment is extremely positive. We are experiencing a cultural and social shift, driven by well-being and conscious consumption, which is directly impacting the industry's opportunities: alcohol-free beer isn't displacing traditional beers, but rather expanding consumption opportunities. This is a tangible advantage, allowing us to diversify our portfolio and tap into new audiences. For these audiences, our approach—stemming from a careful analysis of trends and needs—aims to include all consumers, offering everyone an increasingly broad and diverse choice. To date, our portfolio includes several options designed to respond to these new trends, such as Birrificio Angelo Poretti's 4 Luppoli Zero (0.5%), which, among other things, is experiencing significant growth, well above the market trend, confirming how alcohol-free options are becoming an increasingly popular and appreciated choice. Other non-alcoholic options include Brooklyn Special Effects (0.4%)—a hoppy amber lager that embodies the Brooklyn Brewery brand's values of diversity and inclusion—and our latest launch, unveiled at Beer & Food Attraction 2026, Tuborg Zero Lemon (0.4%). Looking ahead, we expect sustained growth, with consumers continuing to seek variety, flavor, and solutions that enable inclusive and responsible socializing. The non-alcoholic beer segment will become a stable lever for the supply chain, capable of creating added value both commercially and in terms of reputation, contributing to the development of a modern, responsible offering that reflects new ways of interpreting convivial moments.

How do responsible consumption campaigns reconcile with expected sales?

Carlsberg Italy's commitment to promoting responsible lifestyles is reflected in guiding consumers toward informed and moderate drinking, encouraging responsible choices without compromising on taste. Expanding our offering of non-alcoholic beverages is not just a national growth objective, but stems from a specific commitment within the Group. Our packaging includes messages about responsible drinking—in line with IARD (International Alliance for Responsible Drinking) standards—and we are committed to engaging the community through events and sponsorships dedicated to moderate drinking. For example, in 2024 and 2025, with Birrificio Angelo Poretti, we were the official sponsor of the Bologna Marathon, and this year, we are sponsoring, again with the brewery, the Run Rome The Marathon, distributing thousands of free samples of Birrificio Angelo Poretti's 4 Luppoli Zero. These examples represent just some of the concrete actions we take daily to encourage responsible drinking, which also have a positive impact on sales: with our non-alcoholic beverage offering and the promotion of these drinking alternatives, we are reaching an increasingly broad and diverse customer base, achieving significant business results (as anticipated, in the non-alcoholic segment, we are experiencing outpacing the market, with a 108% increase in 2025). Furthermore, the promotion of responsible lifestyles, in line with the values and philosophy of the entire Carlsberg Group, also has a positive impact on consumers' purchasing decisions, who increasingly reward and favor companies that demonstrate a genuine, comprehensive commitment to ESG.

How much research and development costs do new products absorb?

Innovation is a strategic component for the brewing industry, and as part of a large international group, we continuously invest in research and development. In 2025, for example, approximately DKK 152 million was invested in research and development at the group level. This means that new products certainly represent a significant investment, but these costs aren't just related to new recipes or new product launches: research also includes, for example, process optimization, packaging sustainability, or the development of new consumer solutions such as low- and no-alcohol beers. Furthermore, at the group level, we can also count on our Carlsberg Research Laboratory, which celebrated its 150th anniversary in 2025. This facility's pioneering work has shaped modern brewing over time, from the development of purified yeast, to the invention of the pH scale and the decoding of the barley genome, to cutting-edge agricultural technologies that address global food insecurity in the face of climate change. For this reason, rather than an isolated cost, R&D should be seen as a long-term investment that allows for innovation and improved quality standards, responding to new consumer trends, and ensuring competitiveness in an ever-evolving market.

What new products do you have in the pipeline?

At Beer & Food Attraction 2026, we launched the new Lemon Turborg Zero (0.4%), an innovation that represents an all-Italian pride, the fruit of the work of Italian master brewers and produced at our historic Induno Olona brewery. A pale lager, characterized by the refreshing power of a non-alcoholic beer combined with the unmistakable taste of lemon juice, designed for a younger audience but perfect for a diverse consumer base. Lemon Tuborg Zero, in true Tuborg style, is the ideal beer for social occasions, an excellent refreshing non-alcoholic alternative that champions a vision of conscious and inclusive enjoyment. It fits into a macro-trend that sees, especially among younger age groups, a greater focus on well-being, mental and physical health, and a desire for more inclusive and conscious social interaction.

How can we retain long-time consumers who are drawn to classic flavors and alcoholic beers that have little intention of changing?

A fundamental concept to start with is respecting the habits and consumption culture of this audience: we're talking about consumers who, over time, have built a relationship of trust with the brand and specific taste profiles. For them, classic alcoholic beer represents an authentic, recognizable, and quality experience. Therefore, it's essential to preserve the consistency and high quality of iconic products , maintaining the elements that have made them a benchmark in the market. At the same time, enhancing Heritage is crucial: telling the story, the know-how, and the connection to conviviality that have always characterized Carlsberg Italia's offering reinforces the sense of continuity and reliability. At the same time, building loyalty among these consumers means not asking them to change their habits, but offering solutions that evolve what they already appreciate. This can happen through new formats, richer consumption opportunities, or more contemporary storytelling methods that broaden the experience without distorting it.

In this sense, a concrete example is the   Birrificio Angelo Poretti's recent rebranding: a strategic move ushering in a new era for the brand, with a more modern, bold, and distinctive visual identity, while remaining faithful to the pillars our consumers have always loved. The relaunch emphasizes Italianness, authenticity, and industrious creativity, celebrating the brewery's heritage (since 1877) and maintaining the same recipes, which remain a cornerstone for those seeking quality and authenticity. In this evolution, today's consumers will find a brand that makes them feel part of a shared, authentic story deeply rooted in the region. Birrificio Angelo Poretti's new identity, in fact, places this need for connection and recognition at its core, transforming the moment of consumption into an experience that speaks of connections, traditions, and spontaneity—an aspect that perfectly captures what our longtime audience already appreciates about the brand. Finally, maintaining an ongoing dialogue with consumers remains key, making them feel part of a community and a shared system of values. In short, the key is finding the right balance between tradition and innovation: preserving what defines the identity of Birrificio Angelo Poretti beers, while introducing evolutionary elements that enrich the experience and strengthen the long-term relationship with the brand.

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EFA News - European Food Agency
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