China Witnessing Dynamic Growth in Alcoholic Beverages Sector: ken Research

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China Witnessing Dynamic Growth in Alcoholic
Beverages Sector ken Research
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Rum, cognac, whiskies and champagne are the
categories of western style products which have
prolonged to be dominated by international
players in the Chinese market. In 2016, with the
alcoholic drinks, domestic companies have been
observed to continue to account for the lion's
share in terms of total volume.
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• No doubt that the consumers in China prefer to
  purchase higher quality products but in lesser
  volumes that has primarily led to a negative
  impact of total volume sales on alcoholic drinks
  in 2016.
• To compact the competition from foreign imports,
  many marketing strategies have been introduced.
  The leading grape winery in China has well
  accelerated global acquisition of other wine
  firms in Europe named Yantai Changyu Pioneer Wine
  Co. With the growing share of high-ended
  products, esteemed beer companies are also
  optimizing their product mix, which in turn is
  going to capture ever changing demand for
  consumers.
• According to the report, Alcoholic Drinks in
  China, in 2016, there has been a significant
  growth in demand for wine and spirits.
  Especially, rice wine, light grape wine and
  baijiu in the Chinese market have seen an
  increase in demand. There has been a growth

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of about 4 and 5 recorded in total volume
terms. In comparison to the previous years, the
growth in 2016 has been quite slower due to shift
in drinking habits and enhancement in health
consciousness. For business dinner ordering, and
formal social occasions people of China prefer
premium products because of high grade quality
and better taste. Normally Chinese people prefer
drinking less and often with their families and
friends, they even swap wine or baijiu for soft
drinks. From last three years, China has
noticed a dynamic growth in market of alcoholic
drinks, despite a decline in total volume terms
in 2016 as registered by RTDs. Due to the
saturation in terms of advertisement and lack of
product innovation, consumers enthusiasm has
been majorly hampered. Additionally, because of
stiff competition among retailers and
distributors, there has been
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a reduction in prices which further led to sharp
fall in sales resulting in over stockings and
decline in revenue with RTDs. Anyhow, there are
many consumers who are now purchasing alcoholic
drinks online through their mobile devices which
had led to massive growth in internet retailing
in China. Also, manufacturers and retailers are
giving more attention to e-commerce, to increase
their sales. It also helps the retailers to
estimate their cost selling directly to
consumers. As a result, growth opportunities are
well promised in the future years. A stable
demand for the alcoholic drinks for private
consumption is predicted to occur in the future
that will also support the performance of revived
industry with the passage of time. The market is
anticipated to register higher profits as the
years pass majorly via the new online system of
purchases. Undoubtedly,
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demand is not going to multiply at a fast pace
but the overall market is foreseen to augment and
emerge in the coming future through the support
of technological innovations. Key Factors
Considered in the Report China Alcoholic
Beverages Market Research Report China Alcoholic
Beverages Market Demand China Alcoholic Drinks
Market Competitors China Alcoholic Drinks Market
Revenue China Alcoholic Drinks Import
Volume China Alcoholic Drinks Export Volume China
Beer Market Trends China Alcoholic Drinks
Industry Future Outlook China Spirits Industry
Research Report
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To know more about the research
report https//www.kenresearch.com/food-beverage-
and-tobacco/alcoholic-beverages/alcoholic-drinks-c
hina/120971-11.html Related reports https//www.
kenresearch.com/food-beverage-and-tobacco/alcoholi
c-beverages/beer-uzbekistan/122252-11.html https
//www.kenresearch.com/food-beverage-and-tobacco/al
coholic-beverages/spirits-manufacturers-regions/11
6815-11.html
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Contact Ken Research Ankur Gupta, Head
Marketing Communications query_at_kenresearch.com
91-124-4230204