Baijiu Market Size, Share, Growth, and Industry Analysis, By Type (Thick-Flavor, Sauce-Flavor, Light-Flavor and Others), By Application (Corporate Hospitality, Government Reception, Family Dinner and Other Foods), Regional Forecast To 2031

Updated On: 22 April 2024

Baijiu Market REPORT OVERVIEW

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global baijiu market size was USD 95210 million in 2021 and market is projected to touch USD 104341.85 Million By 2031, exhibiting a CAGR of 3.1% during the forecast period.

Baijiu is regarded as one of the world's oldest and most popular alcoholic beverages. Made primarily of sorghum, it is described as tart and lemony, with Moutai leading global market sales. This drink is mostly classified by scent or flavour, with the most notable ones being sauce flavour, light flavour, rice aroma, phoenix aroma, and mixed aroma. It is in high demand throughout the world due to its Asian aura and linked history. This product is one of the most essential aspects for tourism in the Chinese province, which is why the Chinese government is working to strengthen the Baijiu market and help it achieve international renown.

The drink, being China’s most popular drink, is always in high demand in the country and is making its way to popular bars in first-world countries like the United States of America and Canada. The introduction of it to the international market is linked to a 2007 Time article that proposed utilising this tart beverage in drinks. Since then, some pubs throughout the world have begun to popularise this drink with the general public.

COVID-19 Impact: The COVID-19 Underlying Condition Decreased the Manufacturing and Hampered the Market Growth

The current COVID-19 outbreak has resulted in decreased manufacturing at several sites throughout the world and disruptions to the supply chain for the packaging industry. By conducting a remote audit and risk assessment regarding COVID-19, Global Food Safety Initiative (GFSI) certification programmes are offering six-month certificate extensions to ensure smooth supply chain flow. As a result, the business can authorize a new seller location without an on-site inspection to meet demand.

LATEST TRENDS

"The Extensive Utilization in Making Cocktails to Augment the Market Growth"

The use of the beverage in cocktails has become a widespread drinking practise. Due to this, the beverage is becoming more well-known around the world, which is boosting sales. Chinese waiters and bartenders have been focusing on the flavour of this drink and how it will change how people consume alcohol in the next years.

The world's first Baijiu-themed bar, Capital Spirits, a bar entirely devoted to the beverage, has contributed to the growth of this beverage's appeal and benefited both the travel and hospitality industries. The World Baijiu Day, which is observed on August 9, is a day entirely devoted to the growing popularity of this beverage among Chinese people. The drinks inclusion in well-known cocktails at themed restaurants and events is upending the market and will play a significant role in its future expansion.

Baijiu Market SEGMENTATION

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• By Type

Based on type the market is classified into thick-flavor, sauce-flavor, light-flavor and others.

Thick flavor is the leading part of the type segment.

• By Application

Based on application the market is classified as corporate hospitality, government reception, family dinner and other foods.

Family dinner is the leading part of the application segment.

DRIVING FACTORS

"Growing Global Demand for Alcohol to Stimulate the Market Growth"

Nearly 9,000 years ago, alcohol had a significant role in the development of human civilisation. The average annual consumption of pure alcohol, when accounting for the population over 15 years old, is roughly 6.4 litres, according to the World Health Organization's Global Status Report on Alcohol and Health 2018. These figures demonstrate that alcohol is among the most significant beverages in the world and is frequently consumed by working-class people. The global Baijiu market is heavily fueled by this strong demand, and it is opening doors for it to penetrate international bars.

"The Drink Being a Part of Chinese Tradition to Drive Up the Market Demand "

Baijiu is without a doubt the most popular Chinese beverage, and it is a mainstay at Chinese celebrations such as weddings, birthdays, and festivals. The drink has been popular in China since the 2nd century BC and plays an important role in ancient Chinese culture. During the Lunar New Year, Baijiu sales increase significantly as the drink is consumed throughout the country. According to a research article titled 'The Geographical Patterns of Chinese Liquors During 1995-2004' written by Xilin Zhao, Ya Tang, and Chaosheng Zhang, China consumes around 10 billion litres of Baijiu each year.

RESTRAINING FACTORS

"The Less Popularity of the Drink to Restrain the Market Growth"

One of the most significant issues confronting the market for this Chinese alcoholic beverage is its lack of availability throughout the APAC area. Though alcoholic beverages like as vodka and whisky are widely available, the word Baijiu is not widely known in the worldwide market. This is poised to change as the Chinese diaspora introduces the beverage to the international market and works to popularise it. The demand is however shrieked causing a hurdle in the baijiu market growth.

Baijiu Market REGIONAL INSIGHTS

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"Asia Pacific To Dominate The  Market With Volume Production and Key Players"

Because China is the founder and principal manufacturer of this beverage, the Asia Pacific area leads the worldwide Baijiu market with almost half a regional share. While the drink has been present for generations in China, commercial production of the alcoholic drink began only during the 1950s, with the drink now reaching overseas markets thanks to Chinese diaspora.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

Key players are adopting inorganic growth strategies such as partnerships, merger acquisition, new product launches in order to gain traction in the global baijiu market share.

List of Market Players Profiled

• Kweichow Moutai Group (China)
• Wuliangye (China)
• Yanghe Brewery  (China)
• Daohuaxiang  (China)
• Luzhou Laojiao  (China)
• Langjiu Group  (China)
• Gujing Group  (China)
• Shunxin Holdings  (China)
• Fen Chiew Group  (China)
• Baiyunbian Group  (China)
• Xifeng Liquor  (China)
• Hetao Group  (China)
• Yingjia Group  (China)
• Kouzi Liquor  (China)
• Guojing Group  (China)
• King's Luck Brewery  (China)
• Jingzhi Liquor  (China)
• Red Star  (China)
• Laobaigan  (China)
• JNC Group  (China)
• Golden Seed Winery  (China)
• Yilite  (China)
• Huzhu Highland Barley Liquor  (China)
• Jinhui Liquor  (China)
• Weiwei Group  (China)
• Tuopai Shede  (China)
• Xiangjiao Winery  (China)
• Shanzhuang Group  (China)
• Taishan Liquor  (China)
• Gubeichun Group  (China).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.