China: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in China

The Chinese spirits and liqueurs market shrank slightly to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Spirits And Liqueurs Production in China

In value terms, spirits and liqueurs production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Spirits And Liqueurs Exports

Exports from China

In 2022, overseas shipments of spirits, liqueurs and other spirituous beverages increased by X% to X litres, rising for the second consecutive year after two years of decline. In general, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spirits and liqueurs exports soared to $X in 2022. Over the period under review, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

South Korea (X litres), Hong Kong SAR (X litres) and the United States (X litres) were the main destinations of spirits and liqueurs exports from China, together comprising X% of total exports. Japan, Thailand, Singapore, Macao SAR, Malaysia, Taiwan (Chinese), Australia, the UK, Canada and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from China, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by Macao SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Macao SAR (X% per year).

Export Prices by Country

The average spirits and liqueurs export price stood at $X per litre in 2022, with an increase of X% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spirits and liqueurs export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. The export price peaked at $X per litre in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per litre), while the average price for exports to South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic People's Republic of Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spirits And Liqueurs Imports

Imports into China

In 2022, approx. X litres of spirits, liqueurs and other spirituous beverages were imported into China; which is down by X% compared with 2021. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X litres in 2021, and then shrank in the following year.

In value terms, spirits and liqueurs imports contracted to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

France (X litres), the UK (X litres) and South Korea (X litres) were the main suppliers of spirits and liqueurs imports to China, with a combined X% share of total imports. Japan, the United States, Taiwan (Chinese) and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to China, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Japan (X% per year).

Import Prices by Country

The average spirits and liqueurs import price stood at $X per litre in 2022, picking up by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per litre), while the price for South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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