The turnover of the wholesale of tobacco and liquor markets in China showed significant fluctuations from 2013 to 2023. The market experienced substantial growth from 2013, peaking in 2016. Post-2016, there were moderate declines and increases, with a significant drop in 2020 likely due to the COVID-19 pandemic. By 2022, recovery was notable, close to pre-pandemic levels, and a further increase by 2023 positioned the market at 105.22 hundred million RMB.
Year-on-year analysis indicates the most considerable growth occurred in 2022 with a 98.61% increase, while 2023 saw a 13.93% rise. The CAGR over the last five years stands at 0.29%, suggesting a stable but slow growth trend post-recovery.
Future trends to watch for:
• Policies influencing tobacco and liquor regulations may impact market turnover.
• Demographic shifts, particularly changes in consumer preferences.
• Economic factors and potential recovery measurements post-pandemic.
• Technological advancements and online market expansions can drive growth.
• The forecast CAGR of 1.01% over the next five years indicates a steady growth trajectory.
