China Premium Spirit Market Size & Outlook, 2023-2030
China premium spirit market, 2018-2030 (US$M)
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China premium spirit market highlights
- The China premium spirit market generated a revenue of USD 20,470.1 million in 2019 and is expected to reach USD 45,554.8 million by 2027.
- The China market is expected to grow at a CAGR of 10.5% from 2020 to 2027.
- In terms of segment, vodka was the largest revenue generating product in 2019.
- Tequila is the most lucrative product segment registering the fastest growth during the forecast period.
Premium spirit market data book summary
| Market revenue in 2019 | USD 20,470.1 million |
| Market revenue in 2027 | USD 45,554.8 million |
| Growth rate | 10.5% (CAGR from 2019 to 2027) |
| Largest segment | Vodka |
| Fastest growing segment | Tequila |
| Historical data | 2016 - 2018 |
| Base year | 2019 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vodka, Whisky, Gin, Tequila, Rum, Brandy |
| Key market players worldwide | Diageo PLC, Pernod Ricard SA, Brown-Forman Corp Registered Shs -B- Non Vtg, Bacardi, LT Group Inc, Alliance Global Group Inc |
Other key industry trends
- In terms of revenue, China accounted for 19.0% of the global premium spirit market in 2019.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, China premium spirit market is projected to lead the regional market in terms of revenue in 2027.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 13,092.6 million by 2027.
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Premium Spirit Market Scope
Premium Spirit Market Companies
| Name | Profile | # Employees | HQ | Website |
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China premium spirit market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to premium spirit market will help companies and investors design strategic landscapes.
Vodka was the largest segment with a revenue share of 26.35% in 2023. Horizon Databook has segmented the China premium spirit market based on vodka, whisky, gin, tequila, rum, brandy covering the revenue growth of each sub-segment from 2018 to 2030.
The premium spirits market in China is undergoing a rapid transformation, driven by evolving consumer preferences and strategic efforts by major brands. Baijiu, the traditional Chinese liquor, continues to hold cultural significance and dominates the market with luxury brands like Kweichow Moutai and Wuliangye.
However, there is a growing desire among younger Chinese consumers for lighter, more modern spirits that fit their everyday consumption habits. This shift has led to increased demand for brandy and whisky, which are favored for their European heritage and sophisticated appeal.
The appeal of sipping and savoring these spirits, combined with the popularity of cocktails among younger consumers, is driving this trend, with brandy and whisky now among the most produced spirits in China after baijiu.
Reasons to subscribe to China premium spirit market databook:
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Target buyers of China premium spirit market databook
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Our clientele includes a mix of premium spirit market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China premium spirit market , including forecasts for subscribers. This country databook contains high-level insights into China premium spirit market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China premium spirit market size size, by product, 2018-2030 (US$M)
China Premium Spirit Market Outlook Share, 2023 & 2030 (US$M)
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