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Baijiu is most popular among the people of China due to its aroma and fusions. In addition, it is being recognized globally and is soon expected to be seen in the western countries. Demand of Baijiu in local and international market will drive the growth of Baijiu market.
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A Research Study on Baijiu Market By Competitive Landscape, Geographic & End-User Segment
Asia Pacific Holds the Largest Market Share in the Baijiu Market APAC region holds the largest market share in the Baijiu Market The Baijiu Market in APAC region is driven by the increase in the purchasing power of average consumer. The key applications in this region are Corporate Hospitality and Government Reception among others.
Selected Regulatory Analysis Done in the Full Selected Regulatory Analysis Done in the Full Report: Report: In China, Baijiu, a sorghum drink has such a huge and humongous market that it commands a huge market share. That accounts for more than 50% of the total market share. To be precise, one in two alcoholic drinks sold in China is Baijiu. Maotai liquor has a special reputation as China’s national liquor due to its political and cultural importance. This liquor is considered as the drink of diplomacy that is used to toast political figures, including the President of United States of America, Richard Nixon, on his landmark trip to China, in 1972. Baijiu Market is fairly complex, as there are a wide variety of Baijius in the market, and each Baijiu brand fits into a specific market segment. For instance, super cheap value Baijius comprise very low share of the Baijiu market; standard price Baijius comprise of huge share of the market.
Selected Driving Factors Mentioned in the Full Report The increasing demand for Baijiu in the US has led to the opening of cafes offering only Baijiu drinks. The sales of standard Baijiu which is priced between $20-40 is gaining traction across middle-class populace. Needless to say, it is ultimately steering the market. As a result of Baijiu’s stellar sales, Baijiu brands are extremely valuable. For instance, Moutai has a brand value of $2.4 billion, while Wuliangye is worth $1.6 billion and LuzhouLaojiao is worth $1.5 billion. According to the World Bank Data, millennials account for more than 30% of the total Chinese population, which is expected to influence the growth of the market during the forecast period.
Key Players of the Key Players of the Baijiu Market Market Moutai Co Fen Jiu Lang Jiu partnership Organization Company 4 Company 5 Company 6 Download Sample Report Contact : sales@industryarc.com
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