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1、Alcoholic Drinks - ChinaEuromonitor International : Country Market InsightJune 2008List of Contents and TablesExecutive Summary1Strong Market Performance Driven by Economic Growth1Domestic Players Rise To Lead the Market1More Foreign Companies Stirs Up the Competitive Environment1Specialist Shops St
2、art To Catch Attention1Forecast Growth Expects To Be Flat Due To Market Consolidation1Key Trends and Developments1Strong Demand Drives Prices Up1Olympic Game Starts To Pre-heat the Market2Polarised Consumer Preference Prevails3Growing Number of Young Drinking Consumers4Modern Lifestyles Brings More
3、Occasions on Which To Consumer Alcoholic Drinks5Specialist Retailers5Summary 1Leading Specialist Retailers 20066Market Merger and Acquisition Activity6Summary 2Speculated Merger and Acquisition Activity 2006-20077Territory Key Trends and Developments7East China7Mid China10North and Northeast China11
4、Northwest China15South China19Southwest China21Market Background22Legislation22Taxation and Duty Levies23Table 1Taxation and Duty Levies on Alcoholic Drinks 200723Table 2Typical Wholesaler and Retailer Off-trade Mark-ups by Selected Sectors 200724Table 3Selling Margin of a Typical Beer Brand 2007 -
5、Tsingtao24Table 4Selling Margin of a Typical Domestic Wine Brand 2007 Great Wall24Table 5Selling Margin of a Typical Imported Wine Brand 2007 Jacobs Creek24Table 6Selling Margin of a Typical Domestic Spirits Brand 2007 - Jinliufu25Table 7Selling Margin of a Typical Imported Spirit Brand 2007 Johnnie
6、 Walker Black Label25Operating Environment25Market Indicators26Table 8Retail Consumer Expenditure on Alcoholic Drinks 2002-200726Market Data26Table 9Sales of Alcoholic Drinks by Sector: Total Volume 2002-200726Table 10Sales of Alcoholic Drinks by Sector: Total Value 2002-200726Table 11Sales of Alcoh
7、olic Drinks by Sector: % Total Volume Growth 2002-200727Table 12Sales of Alcoholic Drinks by Sector: % Total Value Growth 2002-200727Table 13Sales of Alcoholic Drinks by Sector by On-trade vs Off-trade split: Volume 200727Table 14Sales of Alcoholic Drinks by Sector by On-trade vs Off-trade split: Va
8、lue 200727Table 15Sales of Alcoholic Drinks by Sector by On-trade vs Off-trade split: % Volume 200728Table 16Sales of Alcoholic Drinks by Sector by On-trade vs Off-trade split: % Value 200728Table 17Sales of Alcoholic Drinks by Region: Total Volume 2002-200728Table 18Sales of Alcoholic Drinks by Reg
9、ion: Total Value 2002-200728Table 19Sales of Alcoholic Drinks by Region: % Total Volume Growth 2002-200729Table 20Sales of Alcoholic Drinks by Region: % Total Value Growth 2002-200729Table 21Company Shares of Alcoholic Drinks by Global Brand Owner 2003-200629Table 22Off-trade Sales of Alcoholic Drin
10、ks by Distribution Format: % Value Analysis 200730Table 23Off-trade Sales of Alcoholic Drinks by Sector and Distribution Format: % Volume Analysis 200730Table 24Forecast Sales of Alcoholic Drinks by Sector: Total Volume 2007-201230Table 25Forecast Sales of Alcoholic Drinks by Sector: Total Value 200
11、7-201230Table 26Forecast Sales of Alcoholic Drinks by Sector: % Total Volume Growth 2007-201231Table 27Forecast Sales of Alcoholic Drinks by Sector: % Total Value Growth 2007-201231Table 28Forecast Sales of Alcoholic Drinks by Region: Total Volume 2007-201231Table 29Forecast Sales of Alcoholic Drink
12、s by Region: Total Value 2007-201231Table 30Forecast Sales of Alcoholic Drinks by Region: % Total Volume Growth 2007-201232Table 31Forecast Sales of Alcoholic Drinks by Region: % Total Value Growth 2007-201232Definitions32Summary 3Research Sources33ALCOHOLIC DRINKS IN CHINAEXECUTIVE SUMMARYStrong Ma
13、rket Performance Driven by Economic GrowthWith expected GDP growing at more than 11% in 2007, Chinas economic growth reaches another new height. The economic growth also contributes greatly to the alcoholic drinks market, as the total volume sales is outperforming than 2006 in terms of actual volume
14、 sold. Upgrading of consumers expenditure structure in urban markets drives demand up during 2007. Domestic Players Rise To Lead the MarketDomestic players remained strong in China, as many of them have been establishing very loyalty brands due culture and historical benefits. Moreover, the bull sto
15、ck market in 2007 also gives a robust injection for big companies like China Resources Enterprise and Wuliangye Yibin Co Ltd. In less developed regions such as Northwest China and Mid China, the local brands appear to be dominant in beer and spirits as locals are more loyal to their own brands. More
16、 Foreign Companies Stirs Up the Competitive EnvironmentEnters of foreign companies in beer and spirits is pushing the market to be more opened and competitive in first tier cities in China. First tier cities like Shanghai and Guangzhou are more open to foreign brands and the local consumption habit
17、is more adoptive to exotic products. Increased volume and imported alcoholic drinks gives greater stern in those urban markets. On the other hand, domestic players are seeking joint ventures with foreign partners to start to explore the abroad. Specialist Shops Start To Catch AttentionWhile chained
18、hypermarkets and independent grocery stores are the main distribution channel for alcoholic drinks. The emergence of specialist shops is becoming important to wine and spirit manufacturers. The cost of sales in specialist is lower than hypermarkets, and the specialist better serves high end consumer
19、s in terms of product quality and variety. Moreover, manufacturers start to consider building their own specialist shops, for example, Kuichow Maotai and Wuliangye have already established a small scale of distribution network of their own. Forecast Growth Expects To Be Flat Due To Market Consolidat
20、ion2007 continues to be the year of consolidation, leading international players entered into China through acquisition of local brands. Leading domestic beer and spirits manufacturers also gained great strength from the flourish stock market, they are very active in mergers and acquisition. Competi
21、tive market environment is shifting from fragmented to concentrate. Small and medium sized domestic players will gradually withdraw from the market. KEY TRENDS AND DEVELOPMENTSStrong Demand Drives Prices UpNational statistic data showed that in the first half of 2007, Chinas GDP grew at 11.5%, and t
22、he whole years GDP is expected to have similar growth. The hot economic growth not just brings high volume of retail consumption in China; it also starts to affect the consumers expenditure structure. More high quality and premium products are demanded in urban regions, and even in rural area, the d
23、emand for higher priced products is increasing. On the other hand, short of supply of domestic spirits contributes to the increasing in unit price. Suppliers are facing upward trend on unit price partially affected by strong demand from consumers. Current ImpactAnnounced by National Bureau of Statis
24、tics, the consumer price index for the whole year of 2007 is expected to register at 4.5%, which might become a historical new height. The central government is facing greater pressure on stabilising the inflation rate and the retail price, as the nations fast economic growth might be offset by such
25、 inflation growth. Unit price increase is driven by several key factors, and strong demand is one of the generators. Most of the domestic spirit manufacturers feel that premium products are short of supply and even their distributors are yelling to increase the price. Leading brands like Wuliangye a
26、nd Matai all increased their price from 10-15% during 2007. Increase in unit price for most of the spirit has further stimulates the demand as people have more disposable income to spend. Similar situation can also be applied to wine, where sales volume of mid/high end products increased faster than
27、 low end products, which represents an upward trend in unit price. OutlookThe demand for alcoholic drinks will remain strong over the forecast period, and for spirits the demand will gradually shift from low end products to high end. As the high end spirits takes relatively longer, such as Scotch wh
28、isky and Chinese spirits, the future supply will not grow as fast as the demand projected. Therefore, it is very likely that unit price for spirits will continue to rise over the forecast period. However, for beer and wine, short of supply is very unlikely to happen. Players entered into mid/high en
29、d spirits will benefit from the rising unit price. Future ImpactStrong demand of wine and spirit in China will cause the unit price to rise on global basis, and for the short term period, China will emerge to gain great deal of attention from global suppliers. More and more international brands will
30、 be eager to enter the market. In the mean time, the consolidation of domestic beer manufacturers will cause the market to be more competitive and unit price movement of beer and wine is expected to be less active than spirits. Over the forecast period between 2007 and 2012, Beer unit price is forec
31、ast to grow at 10%, wine at 6% and spirits at 38%. The rapid growth in unit price not only generated from the increasing demand for high end products, but also importantly the short supply of the premium products. Moreover, for beer, as the market consolidation is expected to continue to take place
32、in China, leading manufacturers will gather more strength in regional and even national distribution channels, unit price of beer will have higher than wines growth rate over the forecast period. Olympic Game Starts To Pre-heat the MarketWhile China is busy preparing for the upcoming Olympic game in
33、 2008, all leading players in alcoholic drinks have already began their move in the promoting for the game. There is no doubt that the Olympic will have strong impact over the nations economic growth and international political status, it is also a golden chance for Chinese enterprises to label them
34、selves to the world. Current ImpactAlthough the Olympic sponsorship is very exclusive and only two of the leading Chinese companies gained such title, they are Tsingtao Brewery Co Ltd and COFCO Wines & Spirits Co. The two companies released a series of promoting activities during the 2007. However,
35、the results of such large scale of campaign are yet to show in 2007. Tsingtao Brewery Co Ltd, tight up the national TV station CCTV, launched a documentary programme called “Qing Guo Qing Cheng”, which documents the best views of more than 150 cities in China to select the best city in the name of T
36、singtao Beer for Olympic game. Although the huge publicity expense cannot bring immediate increase in volume sales, it is believed to have long term effect as the programme will be broadcast to the world. OutlookThe success of Olympic sponsors is making peer competitors more jealous and eager to get
37、 involved. Though majority of the domestic players did not get the sponsorship due to their own financial strength and brand value, many of them are doing the sort of the Olympic marketing in the best practice. For example, domestic spirits makers like Kweichow Maotai Co Ltd and Wuliangye Yibin Co L
38、td launched series of red packaged products made for Olympic Game. Maotais sub brand Jinliufu used to be China national teams sole provider of celebration spirits, its red labelled products represents the Chinese tradition of happiness and fortune, which is fit to the theme of Olympic game in accord
39、ance to Chinese peoples perception. Wuliangye launched their new packaged product, which is made into a shape of panda, and panda is one of the lucky dolls for the Beijing Olympic game in 2008. The Wuliangye panda bottle is expected to bring big hit in 2008. Future ImpactThe success of Beijing Olymp
40、ic game in 2008 will have profound impact on Chinas leading alcoholic drink makers. Note only Tsingtao Brewery Co Ltd and COFCO Wines & Spirits Cos brand will be highly profiled after the game, the whole world will have an eye on Chinas domestic alcohol brands. There might be greater chance lays ahe
41、ad after 2008, and domestic players will use the chance to sell their products to the world. On the other hand, it is believed that the Olympic will bring the world more closely to traditional Chinese consumers, more international players will be attracted to China as local consumers will demand mor
42、e exotic high quality and premium products over the forecast period. Although the impact of top sports event like Olympic Games and World Cup on alcoholic drinks sales in Greek, Japan and South Korea seemed not that significant, and the increase of sales volume was less than expected, it is not the
43、same case in China. Countries like Greek, Japan and South Korea are much better off in terms of GDP per captia, and the alcoholic drinks markets in those countries are more consolidated than the situation in China. The Olympic will not just boost the brand image of several leading brands; it is actu
44、ally a new era for China to show the world of its dynamic strength and economic power. The post Olympic period will be a mile store for Chinas overall economic and as well as for alcoholic drinks. Manufacturers are highly recommended to take advantage of this great sport event in 2008 in China. Pola
45、rised Consumer Preference PrevailsWhile many consumers traded down to cheaper options, high-end premium alcoholic drinks have shown noticeable growth, backed by new products launches and comprehensive marketing efforts. At the opposite end of the market, sales of low-end offerings such as economic l
46、ager and low-end Chinese spirits have also been enjoying healthy growth. Different pricing strategies result in different competition environment. Current ImpactWhen consumers become richer in the review period, they are likely to choose the premium whisky or wine products in the pubs and bars for t
47、he positioning of these products is indulgent and luxury. Meanwhile, the premium lager brands are trying to enlarge its distribution channels. The imported brand Corona was taken over by Budweiser Wuhan International Brewing Company Ltd in the beginning of 2007. Thanks to Budweisers established stro
48、ng sales net in both on-trade and off-trade channels, Corona is expected to have the better performance. Meanwhile, when choosing wine and spirit products, particularly in the off-trade channels such as supermarkets/hypermarkets, consumers are usually price conscious and willing to buy low to mid range products. High end products of both domestic and imported brands are mainly available
