食品饮料板块内部行业分化，啤酒进入旺季上行通道

每日经济新闻2025-07-01

啤酒行业在2024年经历深度调整周期：前三个季度持续承受需求收缩压力（春节后及7-8月两次需求冷却周期），叠加极端天气扰动旺季销售，渠道去杠杆化形成“需求-库存-资金”三重压力，2024年二至三季度进入行业低谷。转机始于2024年三季度末，政策拐点显现，消费券精准投放与居民收入预期改善促使餐饮渠道闭店率边际企稳。龙头企业通过资产负债表修复（24H2行业库存水位降至历史低位）与经营策略前瞻性调整（...

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