Baijiu is a distilled alcoholic beverage native to China. It is produced from grain such as sorghum or wheat and is sometimes flavored with herbs and other ingredients. Baijiu is popular for rituals, celebrations, and social drinking. It provides health benefits such as improving blood circulation and suppressing hunger. The demand for Baijiu is rising among young population in China due to changing lifestyle and food habits.
The global Baijiu Market is estimated to be valued at US$ 116.31 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand from young population is one of the key trends driving the growth of the Baijiu market. Young adults in China are increasingly adopting western culture and food habits. However, they still find Baijiu culturally relevant. Leading manufacturers are launching new flavors and brands targeted at younger drinkers. They are using social media platforms to market Baijiu as a drink that can be consumed across occasions rather than strict rituals. This is helping change the perception of Baijiu among youth and driving its consumption. Companies are also introducing bottled and canned Baijiu products for on-the-go consumption. The innovative product launches catering to changing preferences of young consumers are supporting the market growth.
Segment Analysis
The global Baijiu market is dominated by the Shao Hsing sub-segment, which accounts for over 35% of the market share. Shao Hsing Baijiu is preferred for its smooth, mellow taste and versatility in cuisine. With the highest production volume, Shao Hsing Baijiu manages economies of scale in production and distribution network which allows it to maintain pricing efficiency over competitions.
Key Takeaways
The global Baijiu Market Size is expected to witness high growth driven by increasing popularity among young Chinese consumers and growing overseas demands. The global Baijiu Market is estimated to be valued at US$ 116.31 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Regional analysis:
The East and South East Asia regions collectively accounts for over 90% of the global Baijiu market, led by China. Within China, Guangdong and Shandong provinces are the major manufacturing and exporting hubs of Baijiu. Consumption is growing rapidly in Southeast Asian countries as affluent consumers are discovering Baijiu as a premium liquor.
Key players:
Key players operating in the Baijiu market include Kweichow Moutai Group, Wuliangye, Yanghe Brewery, Daohuaxiang and Luzhou Laojiao. Kweichow Moutai Group dominates with a market share of over 30% backed by its flagship Feitian brand and extensive distribution network across China. Wuliangye and Yanghe Brewery also enjoys strong brand recognition as an affordable alternatives to Moutai.
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