Spirits Market in China Research Report: 2016 Edition Alcoholic Beverages
"China
Spirits Market Report: 2016 Edition"
The Report covers current Industries Trends, Worldwide Analysis,
Global Forecast, Review, Share, Size, Growth, Effect.
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Description-
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Spirit consumption in China is a centuries old tradition that has
found archeological evidence in ancient history. Due to deep rooted
prevalence of spirits in Chinese culture, the modern spirits market
is primarily dominated by local drinks like Baijiu and Huanjiu.
However, trade and exchange of goods and services have brought in
global spirits into the Chinese markets, making the current spirits
market of China a mixture of traditional drinks like Baijiu and
Huanjiu along with the existence of wine beer and other hard drinks
like Gin, Whisky, Vodka, etc.
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The
Chinese spirits industry can be classified into four segments,
namely, Baijiu, Huanjiu, Wine and Beer. Baijiu can further be
classified based on the fragrance and Huanjiu can be classified based
on the taste, production method used, alcoholic content and the years
aged. Wine can be classified based on the place of origin, taste,
grape variety and the method of production. Beer is of different
types and styles like ale, lager and cask ale.
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Alcohol consumption in China has been
influenced by various social and cultural changes that have taken
place over the years. As China’s integration with the world
increased, preferences moved away from traditional drinks like Baijiu
and Huanjiu to more internationally known brands and products,
especially the ones that are low on alcohol content like Wine and
Beer. But with the exhaustion of the demographic dividend and
increase in greying population, consumption patterns begun to revert
back. However, the increasing trend of demand for alcohol has
sustained any economic, social or cultural change. The key factors
driving this growth in China’s spirit market are an increase in
Gross Domestic Product (GDP) Per Capita, rising population of women,
higher Per Capita Disposable Income, strong demand for traditional
drink Baijiu, and increase in production capacity over the years.
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The report provides an overview of the
entire spirits industry of China including the major developments
that are expected to accelerate its growth. Rapid consolidation of
the market, better preference of mass-to-mid segment in the years
ahead, rising per capita alcohol consumption in rural areas that has
surpassed urban areas, changes in the consumption patterns and the
most recent, digital innovations that took place are such
developments. However, China’s spirits industry faces certain
challenges. The anti-extravagance campaign of 2012 continues to
affect the spirits market in China, relatively high excise/liquor
taxes of Baijiu may discourage manufactures and signs of limited
volume growth may be visible as per capita alcohol consumption has
already surpassed the global level. Increased number of loss- making
Baijiu enterprises, health and safety concerned along with distinct
local tastes of the people of China are other such challenges that
manufactures may have to face.
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China’s spirits market is rather
fragmented as far as competition is concerned. Unlike, the global
spirits market that is dominated by two large companies Diageo and
Pernod Ricard, the Chinese Spirits market faces stiff competition
from a number of domestic firms. However, due to the large share of
Baijiu in China’s spirit consumption, three companies namely
Moutai, Yanghe and Wuliangye prove to be key players in the industry.
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By combining SPSS Inc.’s data
integration and analysis capabilities with our relevant findings, we
have predicted the future growth of the industry. We employed various
significant variables that have an impact on this industry and
created regression models with SPSS Base to determine the future
direction of the industry. Before deploying the regression model, the
relationship between several independent or predictor variables and
the dependent variable was analyzed using standard SPSS output,
including charts, tables, and tests.
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