According to the new market research report by IndustryARC titled “Baijiu Market: By Price (Low-end, Standard, Economy, Premium, Super Premium), By Type (Thick Flavor, Sauce-Flavor, Liquid-flavor,Others); By Applications (Corporate Hospitality, Government Reception, Family Dinner, Other); & Geography – (2018-2023)”, the market will be driven by the increasing millennial population in China.
Asia Pacific Holds the Largest Market Share in the Baijiu Market
APAC region holds the largest market share in the Baijiu Market. The Baijiu Market in APAC region is driven by the increase in the purchasing power of average consumer. The key applications in this region are Corporate Hospitality and Government Reception among others.
Selected Product Analysis Done in the Full Report
- In China, Baijiu, a sorghum drink has such a huge and humongous market that it commands a huge market share. That accounts for more than 50% of the total market share. To be precise, one in two alcoholic drinks sold in China is Baijiu.
- Maotai liquor has a special reputation as China’s national liquor due to its political and cultural importance. This liquor is considered as the drink of diplomacy that is used to toast political figures, including the President of United States of America, Richard Nixon, on his landmark trip to China, in 1972.
- Baijiu Market is fairly complex, as there are a wide variety of Baijius in the market, and each Baijiu brand fits into a specific market segment. For instance, super cheap value Baijius comprise very low share of the Baijiu market; standard price Baijius comprise of huge share of the market.
- Baijiu accounts for 99% of liquor sales in China, but it is barely known abroad. But now Baijiu makers have started planning to widen their scope into European and United States Markets in order to internationalize its brand value. As a part of that, Maotai reportedly spent $11.76 million to establish its Paris store. More international locations are planned.
Excerpts on Market Growth Factors
- The increasing demand for Baijiu in the US has led to the opening of cafes offering only Baijiu drinks.
- The sales of standard Baijiu which is priced between $20-40 is gaining traction across middle-class populace. Needless to say, it is ultimately steering the market.
- As a result of Baijiu’s stellar sales, Baijiu brands are extremely valuable. For instance, Moutai has a brand value of $2.4 billion, while Wuliangye is worth $1.6 billion and Luzhou Laojiao is worth $1.5 billion.
- According to the World Bank Data, millennials account for more than 30% of the total Chinese population, which is expected to influence the growth of the market during the forecast period.
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Key players of Baijiu Market:
Kweichow Moutai was ranked first among the top 10 Baijiu brands. While Baijiu rivals (Wuliangye and (Shujingfang) are ranked second and sixth, the historical and cultural value of Maotai liquor secured its reputation as the top Chinese luxury brand both domestically and internatinoally. In 2017, Kweichow Moutai’s brand cap hit $71.5 billion, making the company the world’s most valuable liquor distillery. The popular Chinese Alcohol Kweichow Maotai is expected to reach $35 billion in 2018. The regional players have strong market presence which makes it tough for global players to improve their market share.
The Baijiu Market Report is Segmented as Indicated Below:
- Baijiu Market By Price:
- Super Premium
- Baijiu Market By Type:
- Thick Flavor
- Baijiu Market By Applications
- Corporate Hospitality
- Government Reception
- Family Dinner
- Baijiu Market By Geography (Covers 2 + Countries)
- Baijiu Market By Entropy
- Companies Cited/Referenced/Interviewed:
- Anhui Kouzi Distillery
- Anhui Yingjia Group
- Beijing Shunxin Holding Group
- Gujing Group
- Hubei Baiyunbian
- Luzhou Laojiao
- Shaanxi Xifeng Liquor Company
- Shanxi XinghuaCun Fen Jiu Group
- Sichuan Langjiu Group
Sample Report @ https://industryarc.com/pdfdownload.php?id=17813
What can you expect from the report?
The Baijiu Market is prepared with the main agenda to cover the following 20 points:
1.Market Size by Product Categories
6.Top 10 End user Analysis
9.Mergers & Acquisition Analysis
11.Demand Analysis (By Revenue & Volume)
12.Country level Analysis (15+)
14.Market Shares Analysis
15.Value Chain Analysis
16.Supply Chain Analysis
18.Current & Future Market Landscape Analysis
20.Revenue and Volume Analysis
Mr. Venkat Reddy
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