Global Baijiu Market: Demand Analysis and Growth Forecast
Baijiu is a well-known white alcohol that belongs to one of the categories among dozens of Chinese liquors. It is obtained from the distillation of grains which include fermented sorghum, glutinous rice, wheat, millet, and barley. Baijiu is an ancient Chinese liquor which is consumed at an extensive range in this country. It is also renowned as a best-selling liquor in the world with a diverse range of flavors. Thick-flavor, sauce-flavor, and light-flavor are the mainly used flavors among various other flavors such as Strong, Light, Miscellaneous, Feng, Rice, Dong, Sesame, Te, Chi, Laobaigan, and Fuyu. Chinese culture recommends the consumption of liquor, thus there exists necessity of thousands of distillers to meet the mounting liquor demand from the consumers of this country. Widespread of pit fermentation method to produce strong aroma baijiu is heightening the global baijiu market whims.
The latest research report from IndustryARC evaluates that the global baijiu market size was $100 billion in 2018, and projects the opportunities to grow at a CAGR of 6.9% over the forecast period 2019-2025. Through its penetration in the U.S. and Europe along with its established footprints in the Asian Region as well, the baijiu marketplace is poised for healthy returns. The published report was titled: “Baijiu Market: By Type (Flavored and Non-flavored), By Material (Sorghum, Wheat, and others); By Application (Beverages); By Geography- Forecast (2019-2025).”
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Global Baijiu Market: Leading Segments
As per the findings of IndustryARC, strong aroma flavor is identified as the fastest growing application in the global baijiu market, expanding at a profitable CAGR of 6.4% during the aforesaid period. Strong fragrance baijiu is the most ubiquitous type of baijiu with fiery flavor and faint sweetness. It is served as a staple drink at weddings banquets, events, and also even at business dinners in China. China provides around 11billion – 17 billion liters of baijiu in a year, out of which only less than 20,000 liters are exported, stated by China’s National Information Centre of Customs General Administration.
As a part of the regional analysis, it was found that the APAC region held a leading share of about 40 % in the global baijiu market for the year 2018. In China, baijiu is an official and national drink. International Wine and Spirits Research states that China is the prominent spirit consuming nation which accounts more than one-third of the spirits consumption in the world. The substantial growth of Baijiu in China’s alcohol industry is impacting the regional share of APAC in the global baijiu market. According to Forbes, China baijiu sales has increased by 38.5% to reach $286.5 million in 2017. Wine Intelligence stated that continuous growth in the wine imports of China leads to 40% of domestic wine consumption in one of its recent China landscape 2018 report. In 2017, China imported 52.81 million liters of spirits from overseas during the first nine months which accounted for a rise of 27.69% from the previous year. It was witnessed that China imported spirits market valued $807million. These factors altogether contributing to the growth of global baijiu market.
Global Baijiu Market Trends
The huge population in China coupled with the Chinese tradition of consuming baijiu is highly influencing the production of baijiu in this country.
Rising disposable income along with the increasing e-commerce retail sales of specialty spirits (baijiu) to hundreds of billions of U.S. dollars are attributing the growth of the global baijiu market.
Global Baijiu Market: Competitive Landscape
Some of the strategic players recognized in the report that are presently holding majority shares in the global baijiu market are Kweichow Moutai Group, Wuliangye, Yanghe Brewery, Daohuaxiang, Luzhou Laojiao, Langjiu Group, Gujing Group, Shunxin Holdings, Fen Chiew Group, and Baiyunbian Group.
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A. Furfuryl Alcohol Market
B. Asia-Pacific Alcoholic Beverages Market
What can you expect from the report?
The Baijiu Market is Prepared with the Main Agenda to Cover the following 20 points:
- Baijiu Market Size by Product Categories & Application
- Baijiu Market trends & Relevant Market Data
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End-user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Baijiu Market Demand Analysis (Revenue & Volume)
- Country-level Analysis
- Competitor Analysis
- Baijiu Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Baijiu Market Strategic Analysis
- Baijiu Market Current & Future Market Landscape Analysis
- Opportunity Analysis
- Baijiu Market Revenue and Volume Analysis
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