Deep structural adjustments foreseen in liquor industry
Country's alcohol market, including imported spirits, reached nearly 2 trillion yuan in 2024, with 9.4 million registered enterprises
The Mintel report has found that domestic liquor is considered the most culturally rich category of alcoholic beverages. Consumers with higher incomes generally have a stronger recognition of their cultural heritage.
"Brands should enhance interaction to strengthen the cultural attributes of domestic liquor," according to Mintel.
Meanwhile, international expansion remains a key growth avenue for many liquor brands in China.
Data from the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce & Animal By-products show that China's total alcohol export value reached $1.9 billion in 2024, up 6 percent year-on-year. Total export volume hit 750 million liters, up 5.1 percent year-on-year.
Liquor accounted for 51 percent of total alcohol export value, reaching $970 million — a 20.4 percent increase.
Export volume for liquor rose 6.3 percent to 16.42 million liters, with an average price of $59 per liter, up 13.3 percent.
Analyst Cai Xuefei said that 2024 marked the inaugural year of Chinese liquor's "going global", urging brands to explore international markets for long-term growth.
