Market Research Report
China Spirits Market with Focus on Baijiu: Industry Analysis & Outlook (2019-2023)
|Published by||Koncept Analytics||Product code||781948|
|Published||Content info||71 Pages
Delivery time: 1-2 business days
|China Spirits Market with Focus on Baijiu: Industry Analysis & Outlook (2019-2023)|
|Published: February 4, 2019||Content info: 71 Pages||
Baijiu is a traditional drink of China that closely resembles Vodka in its fragrance. It is made by a distillation process that uses ingredients like sorghum, wheat or rice depending upon the desired taste. The volume of alcohol is mostly greater than 30% and goes up to 60% in some varieties. It is among the top seven spirits in the world among Whiskey, Vodka, Brandy, Tequila, Rum and Gin.
Baijiu is distinct due to its large variety of taste, its unique production process and the historical value it holds. It has 12 types of aromas and around 10,000 varieties of final tastes. In modern days, this liquor consumption has been influenced by various social and cultural changes that have taken place over the years in China.
The Chinese spirits industry growth is expected to be driven by the increasing urban populace, growing influence of western culture, peer influence on youngsters and accelerating disposable income. The market is trending with the growing E-commerce retail sales and rising private baijiu consumption. However, there are some growth hindering factors in the industry such as the growing fruit juice demand and stringent regulations.
Presently, baijiu is the most consumed spirits product type in China attributable to the extraordinary flavour product profile offered by the key players and the rising preference for rice aroma (light taste) drinks by the Chinese female working class population.
"China Spirits Market with Focus on Baijiu: Industry Analysis & Outlook (2019-2023)" by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. Key players i.e. Kweichow Moutai Co. Ltd., Wuliangye Yibin Co. Ltd, Jiangsu Yanghe Brewery Joint-Stock Co Ltd and Luzhou Laojiao Co. Ltd are being profiled along with their respective financials and growth strategies.