Chinese millennials are a highly influential group that is a driving force behind the consumption growth in the Chinese alcohol market. Numbering more than 400 million and with high spending power, these young consumers will reshape China’s commerce and retail sector.
In recent years, the global alcoholic ready-to-drink (RTDs) and premixes market has shown tremendous growth. There is a surging demand for innovative and high quality, but affordable beverages, and brands are eager to meet the challenge. The Asia Pacific region accounts for the largest market share, where Westernization
Liquor consumption in China has undergone a huge change over the years. Due to increasing income, many consumers can now afford premium and foreign brands. Over 83 million liters of liquor were exported to China in 2018, a 13.74% increase from the previous year.
The markets in Greater China – Mainland China, Hong Kong, Taiwan and Macau – are hotbeds of opportunities for many foreign companies planning to sell their alcoholic beverages. Many consumers can purchase premium products because of the increasing disposable