The demand for distilled alcoholic beverages in China has seen fluctuations over the past decade. It reached 11.51 million metric tons in 2023, reflecting a slight year-on-year increase of 0.6%. The compound annual growth rate (CAGR) over the last five years stands at 0.39%. The most significant year-on-year change was a 21.24% increase in 2021, following a sharp decline of 16.46% in 2020 due to the COVID-19 pandemic.
From 2024 onward, the forecast indicates a steady but modest growth in demand, with a projected 5-year CAGR of 0.48%, resulting in an overall growth rate of 2.44% by 2028, achieving an estimated 11.87 million metric tons.
Future trends to watch for include shifts in consumer preferences, the impact of health and wellness trends, government regulations, and the economic environment. These factors could significantly influence both the supply chain and consumption patterns of distilled alcoholic beverages in China.
