Chinese Baijiu Bottle Caps Market Size, Share, Growth, and Industry Growth by Material Type (Aluminum Bottle Caps, Plastic Bottle Caps, and Others) By Application (Large Enterprise and SMEs), Regional Insights, and Forecast To 2031

Updated On: 08 July 2024

Chinese Baijiu Bottle Caps Market REPORT OVERVIEW

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The global chinese baijiu bottle caps market size was USD 143 million in 2022 and market is projected to touch USD 217.8 million in 2031, exhibiting a compound annual growth rate (CAGR) of 4.8% during the forecast period.

Baijiu is one of the old-style Chinese scrap spirits, with enormous admiration in the region. It usually has an alcohol content of 40-60% and a fermentation age of about 5 years. A bottle of high-end baijiu can cost up to a few hundred US dollars. The achievement of Chinese liquor businesses is associated with growing prosperity in the region, and a weather where investors seek alternative choices such as liquor.

Baijiu literally means “white liquor” in Mandarin. It is a traditional purified alcoholic drink created in China, which usually comprises an alcohol content between 35 and 60 percent. The most common element for producing baijiu is fermented sorghum. However, other grains like rice and wheat may be used as well. Baijiu is often measured as China’s national drink, which is liked at numerous events, from family get-togethers to business dinners.

COVID-19 Impact: Supply and Lockdown Limitations to Decline Market Advancement

Coronavirus has had a negative impact on the growth of many businesses, including the industries of machinery and equipment. Regional governments around the world levied at shutdown, causing business owners to see a decline in the demand for the machines in the second and third quarters of 2020. With the decrease in demand, manufacturers or industrialists reached the machinery and equipment sector and government concessions in order to increase their product sales in the third and fourth quarters of 2020.

LATEST TRENDS 

"Technological Advancements to Stimulate Market Development "

Technology developments in plastic packing have caused inventions in product improvement in the beverage industry. With several corporations financing considerably in R&D activities to come up with an exclusive and cost-effective product, the inventions in this space are growing at a substantial pace. These factors are expected to drive the Chinese baijiu bottle caps market growth in coming years.

Chinese Baijiu Bottle Caps Market SEGMENTATION 

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• By Type

Based on type; the market is divided into Aluminum Bottle Caps, Plastic Bottle Caps, and Others.

• By Application

Based on the application; the market is divided into Large Enterprise and SMEs.

DRIVING FACTORS

"Alcohol Consumption to Foster Industry Progress "

Baijiu being used in cocktails has become a common alcoholic inclination. Through this, the global acquaintance with the drink is increasing and growing sales of this drink. Chinese bartenders and restaurateurs have been highlighting the flavor of this drink and how this will describe alcohol consumption in the coming years. Moreover, Capital Spirits, a bar entirely devoted to Baijiu, the world’s first Baijiu-themed bar, has aided in growing this drink’s acceptance and promoted both travel and the alcohol industry. Such factors are anticipated to foster Chinese baijiu bottle caps market development in the coming years.

"Concept of Chinese Traditions to Aid Market Expansion "

Chinese commercial culture is recognized to be penetrating. It is assumed that one's true color is exposed when befuddled. Thus, when discussing a business partnership, there is a custom of serving high-degree Baijiu on the table to judge one's honesty. There are also traditional opinions, particularly in rural China, that consuming alcohol excessively associates masculinity and that one should not discard a serving offered by a senior. Many inexperienced Chinese drinkers are convinced to overdrink in such cases. These involvements are normally mentioned as the cause for Baijiu's disapproval among some.

RESTRAINING FACTORS

"Geographic Limitations to Hinder Market Advancement "

One of the utmost major encounters challenged by the market of this Chinese alcoholic beverage is its restriction in the Asia Pacific region. However alcoholic beverages like vodka and whiskey are quite common, the label of Baijiu is still to be overheard in the global Chinese baijiu bottle caps market.

Chinese Baijiu Bottle Caps Market REGIONAL INSIGHTS

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"Purchasing Power of the Consumers to Foster Market growth in Asia Pacific "

Asia Pacific has the largest Chinese baijiu bottle caps market share. China is the single nation in the world where alcohol intake gets more predominant when you get older. The important controller to Chinese Spirits (Penguin), on the growing demand of high-end baijiu. The increasing demand for baijiu is similar to high-end products in China. It has to do mainly with the buying control of clients. As the purchasing power of the regular consumer has amplified, so has the demand for more exclusive baijiu.

KEY INDUSTRY PLAYERS

"New Methods by Manufacturers to Improve Market Growth"

The report gives points of interest on the overall alliance of assembling individuals and their movement observing. Subsequent to social affairs the pivotal data, it is utilized through useful investigation, imaginative developments, acquisitions, and intrigues. Discretionary viewpoints noted for this market incorporate organizations that work with and offer new items, the geographic regions they center around, computerization, lead gathering, making the most shockingly rewarding portions, and having genuine contact with their items.

List of Market Players Profiled

• Shandong Chiway Industry (China)
• Taiwan Hon Chuan Group (Taiwan)
• Hicap Closures (China)
• Guala Closures (Italy)
• Herti (Bulgaria)
• Amcor (Australia)
• TKPC (Germany)
• Ruixiang Packing (China)
• Bericap (Germany)
• Ipercap (Italy)
• Liquor Bottle Packaging International LLC (U.S.)

REPORT COVERAGE

This examination furnishes a report with assessments that consider the portrayal liberated from the business ties that could modify the time span that is being centered around. The survey offers a pragmatic perspective in regards to coordinating affiliations with its vigorous appearance structures, market chance, and late new developments. By inspecting the parts, for example, division, anticipated open pieces, momentum restores, plans, improvement, size, shares, drivers, blocks, and others, it gives an extensive assessment under the course of the finished point by point examination. This assessment might need to be adjusted considering the basic information and future market portion changes.