Chinese people enjoy a wide range of alcoholic beverages, such as beer, rice wine and Chinese distilled alcohol. Despite consumers becoming more health conscious in recent years and more people showing a preference for lower alcohol drinks, demand for high-alcohol Chinese distilled liquor has remained strong.
Since 2005, market deregulation, product improvements and a resurgence in the popularity of Chinese alcohol have boosted revenue for the Alcohol Production industry. In the five years through 2013, industry revenue has been growing 27.2% per year on average to reach $95.6 billion. Imports and exports of Chinese alcohol products are low, and domestic demand is roughly equal to industry revenue.
ACMR-IBISWorld projects that in the next five years, industry revenue will increase at an annualized rate of 16.0% to total $200.92 billion to 2018. Growth is forecast to slow in the next five years as the industry enters a period of consolidation and consumer demand falls. External competition will become a serious challenge for the industry as increasing numbers of people under 30 choose wine, beer and soft drinks over Chinese distilled alcohol.
For more information on the China alcohol production market, please click here: China alcohol production market
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