Key Takeaways
- In 2022, China's Baijiu production volume totaled 7.62 million kiloliters, reflecting a 2.1% year-on-year increase driven by post-pandemic recovery.
- Sichuan province accounted for 38% of national Baijiu output in 2023, producing over 2.9 million kiloliters due to its favorable climate and traditional techniques.
- Guizhou province's Baijiu production surged 15% in 2022 to 1.8 million kiloliters, led by Moutai's expansion.
- China's Baijiu market revenue hit RMB 677.6 billion in 2022, up 8.4% YoY, fueled by premium brands.
- High-end Baijiu segment revenue grew 12% to RMB 350 billion in 2023.
- Overall Baijiu industry GDP contribution was 0.45% of China's national GDP in 2022 at RMB 4.1 trillion indirect value.
- In 2022, urban Baijiu consumption per capita was 5.2 liters, up 4% YoY.
- Baijiu sales volume reached 1.15 billion liters in 2023, driven by gifting culture.
- 68% of Chinese adults consumed Baijiu at least once in 2023 survey.
- Kweichow Moutai sold 28,024 tons of Feitian in 2023, revenue RMB 128.456 billion.
- Wuliangye's 2023 revenue reached RMB 83.99 billion, up 17.4% YoY.
- Luzhou Laojiao reported net profit of RMB 9.1 billion in 2023, +28% growth.
- Global Baijiu exports volume reached 450,000 kl in 2023, up 12% YoY.
- Export value of Baijiu hit USD 1.2 billion in 2022, led by US and EU markets.
- Moutai exports grew 28% to 15,000 tons in 2023, revenue USD 500 million.
China's Baijiu industry is growing steadily as production and premium sales rise.
Company and Brand Performance
- Kweichow Moutai sold 28,024 tons of Feitian in 2023, revenue RMB 128.456 billion.
- Wuliangye's 2023 revenue reached RMB 83.99 billion, up 17.4% YoY.
- Luzhou Laojiao reported net profit of RMB 9.1 billion in 2023, +28% growth.
- Yanghe Brewery's market share in Jiangsu hit 45% with RMB 28 billion revenue 2023.
- Fenjiu Group's Qinghua series sales volume up 25% to 1.2 million cases in 2023.
- Shui Jing Fang's high-end sales grew 22% to RMB 7.5 billion in 2023.
- Gujing Gongjiu's production-sales ratio reached 98% efficiency in 2023.
- Xifengjiu's export revenue doubled to RMB 500 million in 2023.
- Jiugui Liquor's net margin improved to 32% in 2023 from 28% prior year.
- Beijing Red Star's low-end market share held at 15% with RMB 4.2 billion sales 2023.
- Shanxi Xinghuacun Fen Wine Factory revenue RMB 15.8 billion, +20% in 2023.
- Langjiu's market value surged 50% to RMB 300 billion by end-2023.
- Tuopai Yibin's sales volume increased 18% to 2.5 million kl equivalent 2023.
- Shede Spirits' dividend payout ratio 60% on RMB 6.7 billion profit 2023.
- Golden Seed Wine's R&D spend RMB 800 million, 5% of revenue in 2023.
- Dongpeng Special Brew revenue RMB 5.4 billion, up 15% in Huaibei region 2023.
- Ming Kweichow Moutai trademark registrations: over 5,000 globally by 2023.
- Jinhui Liquor's online sales share 20% of total RMB 3.2 billion in 2023.
- Yipin's high-end series contributed 65% to total revenue RMB 4.8 billion 2023.
- Huangtai Chujing's production capacity doubled to 100,000 tons in 2023.
- Quanxing Group's brand value ranked top 20 at RMB 45 billion in 2023.
- Laobaigan's market penetration in Hebei 60% with RMB 12 billion sales 2023.
- Kouzi Liquor revenue growth 25% to RMB 7.9 billion driven by new launches 2023.
- Zlachun Wine's export cases up 35% to 500,000 in 2023.
- Hongbaoshi's profit RMB 2.1 billion, ROE 22% in 2023.
- Caogu Shenqu's organic line sales +40% to RMB 1.5 billion 2023.
- Jingzhi Gaoliang's Northeast market share 25%, RMB 2.8 billion revenue 2023.
- Baofeng Laojiu's listing raised RMB 1.2 billion capital in 2023 IPO.
- Moutai's Series products revenue RMB 20 billion, 16% of total in 2023.
- Wenchuan's aged Baijiu inventory valued at RMB 10 billion end-2023.
Company and Brand Performance Interpretation
Consumption Patterns
- In 2022, urban Baijiu consumption per capita was 5.2 liters, up 4% YoY.
- Baijiu sales volume reached 1.15 billion liters in 2023, driven by gifting culture.
- 68% of Chinese adults consumed Baijiu at least once in 2023 survey.
- High-end Baijiu consumption grew 14% in volume to 180 million liters in 2022.
- Off-trade Baijiu sales dominated 75% of total volume in 2023.
- Average annual Baijiu intake per consumer in Tier 1 cities: 8.5 liters in 2023.
- Women Baijiu drinkers rose to 32% of total consumers in 2023 from 25% in 2019.
- On-trade consumption recovered to 25% market share post-COVID in 2023.
- Millennials (25-40) accounted for 45% of Baijiu volume consumption in 2022.
- Rural Baijiu consumption volume was 420 million liters in 2023, 37% total.
- Cocktail-mixed Baijiu consumption up 50% to 50 million liters in urban bars 2023.
- 52% of Baijiu consumed during banquets and festivals in 2022 survey.
- Low-alcohol Baijiu variants saw 30% consumption growth to 120 million liters in 2023.
- Tier 2-3 cities drove 55% of total Baijiu volume sales in 2023.
- Daily Baijiu drinkers comprised 12% of consumers, mostly males over 40 in 2023.
- Flavored Baijiu consumption hit 80 million liters, +20% YoY in 2022.
- 75% of Baijiu purchases influenced by brand heritage per 2023 consumer study.
- Youth (18-24) Baijiu trial rate increased to 28% in 2023 via social media.
- Gift pack Baijiu sales volume: 300 million liters, 26% of total in 2023.
- Health-conscious low-sugar Baijiu consumption rose 35% to 60 million liters 2023.
- Baijiu paired with cuisine consumption up 18% in restaurants 2022-2023.
- Overseas Chinese consumption of Baijiu totaled 45 million liters in 2023.
- Single malt Baijiu niche consumption grew 40% to 15 million liters in 2023.
- 40% of consumers prefer 52% ABV Baijiu strength in 2023 preference poll.
- Home storage of Baijiu bottles averaged 12 per household in urban China 2023.
- Baijiu tourism drove 20 million consumer visits to distilleries in 2023.
- Non-alcoholic Baijiu mocktails consumption: 10 million liters in 2023 trend.
Consumption Patterns Interpretation
Export and Global Expansion
- Global Baijiu exports volume reached 450,000 kl in 2023, up 12% YoY.
- Export value of Baijiu hit USD 1.2 billion in 2022, led by US and EU markets.
- Moutai exports grew 28% to 15,000 tons in 2023, revenue USD 500 million.
- US Baijiu import volume 120,000 kl in 2023, +20% primarily premium brands.
- EU countries imported RMB 2.5 billion worth of Baijiu in 2023.
- Southeast Asia Baijiu market share 40% of China's exports, 180,000 kl vol 2023.
- Australia/New Zealand imports up 35% to 25,000 kl Baijiu in 2023.
- Japan Baijiu sales volume 30,000 kl, +15% driven by tourism in 2023.
- Korea imported USD 150 million Baijiu, top Asian export dest after SEA 2023.
- UK Baijiu market grew 25% to GBP 80 million retail value in 2023.
- Duty-free Baijiu sales at airports hit 50,000 kl globally for Chinese brands 2023.
- Canada imports 40,000 kl, +18% with new LCBO listings in 2023.
- Belt and Road countries took 60% of Baijiu exports volume in 2023.
- Singapore hub re-exported 20% of Baijiu imports, USD 100 million value 2023.
- Russia Baijiu imports doubled to 18,000 kl amid China-Russia trade boost 2023.
- Global Baijiu diaspora consumption outside China: 200,000 kl in 2023.
- E-commerce platforms like Amazon sold USD 200 million Baijiu in 2023.
- Africa Baijiu exports grew 50% to 12,000 kl, focus South Africa/Nigeria 2023.
- India market entry sales 5,000 kl, potential USD 50 million by 2025 proj 2023.
- Brazil imports 8,000 kl, up 30% via Asian communities in 2023.
- Middle East (UAE/Dubai) duty-free Baijiu sales USD 30 million in 2023.
- Top 10 export markets accounted for 85% of Baijiu export value in 2023.
- Average export price per liter USD 15.2 for Baijiu in 2023, premium skew.
- 120+ countries received Baijiu exports by end-2023.
- HK re-export hub handled 100,000 kl Baijiu transit in 2023.
- US Chinatowns drove 40% of US Baijiu retail sales in 2023.
Export and Global Expansion Interpretation
Market and Economic Statistics
- China's Baijiu market revenue hit RMB 677.6 billion in 2022, up 8.4% YoY, fueled by premium brands.
- High-end Baijiu segment revenue grew 12% to RMB 350 billion in 2023.
- Overall Baijiu industry GDP contribution was 0.45% of China's national GDP in 2022 at RMB 4.1 trillion indirect value.
- Mid-range Baijiu sales revenue reached RMB 210 billion in 2023, capturing 31% market share.
- Baijiu e-commerce sales surged 25% to RMB 85 billion in 2022 via platforms like Tmall.
- Industry profit margins averaged 28% for top 100 Baijiu firms in 2023.
- Baijiu market capitalization of listed firms exceeded RMB 2 trillion by mid-2023.
- Low-end Baijiu revenue declined 3% to RMB 117 billion in 2022 amid premium shift.
- Baijiu R&D investment totaled RMB 15 billion across industry in 2023.
- Secondary market Baijiu trading volume hit RMB 50 billion in 2022.
- Baijiu contributed RMB 120 billion in taxes to government coffers in 2023.
- Online Baijiu market share rose to 15% of total revenue in 2023 from 10% in 2021.
- Baijiu industry employment supported 15 million jobs directly and indirectly in 2022.
- Average Baijiu bottle price increased 6% to RMB 285 in 2023.
- Cross-border e-com Baijiu exports revenue grew 40% to RMB 8 billion in 2023.
- Baijiu futures trading on Zhengzhou Commodity Exchange launched with daily volume RMB 2 billion in 2023.
- Industry advertising spend reached RMB 25 billion in 2022, 70% digital.
- Baijiu wholesale prices rose 5.2% YoY to RMB 210/liter average in Q4 2023.
- Moutai alone generated RMB 128 billion revenue in 2023, 19% of total market.
- Baijiu IPOs raised RMB 30 billion in new capital in 2022-2023 period.
- Supply chain costs for Baijiu firms averaged 35% of revenue in 2023.
- Baijiu collector investment returns averaged 18% annually over 5 years to 2023.
- Digital marketing ROI for Baijiu brands hit 4.5x in 2023 campaigns.
- Baijiu per capita spending in China reached RMB 480 in 2023.
- Festival sales (Chinese New Year) accounted for 25% of annual Baijiu revenue in 2023.
- Baijiu revenue forecast for 2024 projected at RMB 720 billion, +6% growth.
Market and Economic Statistics Interpretation
Production Statistics
- In 2022, China's Baijiu production volume totaled 7.62 million kiloliters, reflecting a 2.1% year-on-year increase driven by post-pandemic recovery.
- Sichuan province accounted for 38% of national Baijiu output in 2023, producing over 2.9 million kiloliters due to its favorable climate and traditional techniques.
- Guizhou province's Baijiu production surged 15% in 2022 to 1.8 million kiloliters, led by Moutai's expansion.
- In 2021, high-end Baijiu production reached 1.2 million kiloliters, comprising 16% of total output amid premiumization trends.
- China's sauce-aroma Baijiu production hit 2.1 million kl in 2023, up 8% from 2022, dominating 28% market share.
- Luzhou Laojiao's production capacity expanded to 500,000 kl annually by 2024 through new facilities in Sichuan.
- National Baijiu grain input for fermentation reached 12.5 million tons in 2022, a 3% rise linked to output growth.
- In H2 2023, Baijiu production in Anhui province grew 12% to 850,000 kl, boosted by Fenjiu innovations.
- Strong-aroma Baijiu output constituted 55% of total production at 4.2 million kl in 2022.
- Moutai Group's annual production capacity stands at 56,000 tons of base liquor as of 2023.
- In 2023, new Baijiu distilleries added 300,000 kl capacity nationwide, focusing on mid-range segments.
- Jiangsu province produced 650,000 kl of Baijiu in 2022, with 20% export-oriented production.
- Light-aroma Baijiu production declined 5% to 900,000 kl in 2023 due to shifting consumer preferences.
- Total Baijiu fermentation pits in operation exceeded 200,000 across China by end-2022.
- Shanxi province's Baijiu output rose 10% to 420,000 kl in 2023, led by Xinghuacun Fenjiu.
- In 2024 Q1, Baijiu production grew 4.2% YoY to 1.95 million kl amid economic rebound.
- Hubei province contributed 7% to national production with 530,000 kl in 2022.
- Automated production lines in top Baijiu firms increased output efficiency by 25% in 2023.
- China's Baijiu sorghum consumption for production hit 8.2 million tons in 2023.
- Concurrent fermentation technology boosted yields by 15% in 40% of distilleries by 2022.
- Inner Mongolia's Baijiu production doubled to 150,000 kl from 2019-2023.
- High-altitude Baijiu production in Yunnan reached 280,000 kl in 2023, up 18%.
- National average Baijiu yield per ton of grain improved to 2.8 kl in 2023 from 2.6 kl in 2020.
- 2022 saw 1,200 Baijiu enterprises operational, producing 95% of total output.
- Gansu province's output climbed 22% to 190,000 kl in 2023 via new tech adoption.
- Brick pit fermentation, key for sauce-aroma, used in 65% of production sites in 2022.
- In 2023, organic Baijiu production volume grew 30% to 450,000 kl.
- Hunan province produced 380,000 kl, ranking 8th nationally in 2022.
- AI-optimized distillation raised output by 12% in pilot factories in 2023.
- Total Baijiu production licenses issued reached 2,500 by end-2023.
Production Statistics Interpretation
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