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Today I will share: Overseas Wine Research Series Report (I): Population: Mapping from the United States and Japan to China

Total report: 32 pages

"Overseas Wine Research Series Report (I): Population: Mapping from the United States and Japan to China" was released by Ping An Securities. It mainly analyzes the impact of population changes in the United States and Japan on wine consumption, and maps China's wine consumption trends.

After the bubble burst in the 1990s, Japan's economy has been in negative growth or slow growth for a long time. The total population has entered a downward channel, the aging population has continued to deepen, and the proportion of women in the workforce has increased. Japan's alcohol consumption is affected by the total population, structure and consumption habits. After the 1990s, the total amount of alcohol consumed declined. The proportion of some products such as high-end sake such as pure rice daiginjo increased, and the whiskey price index continued to grow. RTD is popular among young consumers and has replaced traditional alcohol.

The US economy has experienced several twists and turns but is generally stable, with a steady population growth, thanks to the stability of newborns and the influx of immigrants. Since the 1980s, US alcohol consumption has been mainly driven by the total population, with the drinking structure shifting from beer to spirits. The sales growth of spirits has been faster than nominal GDP, with high-end spirits performing better, and RTDs being popular among young consumers. Spirits-based RTDs have become a new growth pole.

After China experienced three waves of baby booms, the number of newborns has fallen, the total population has slowly declined, the aging population has deepened, and the education level has improved. China's current population structure is similar to that of Japan in the 1990s. Referring to Japan's experience, China's total alcohol consumption may decline slowly in the long term, but the echo baby boom may give birth to a small spring. The concentration and high-end development of the liquor industry will become a long-term logic. At the same time, RTD has great development potential, but the basic market of famous and high-quality liquor is stable. It is mainly consumed in channels such as banquets and has face attributes, while RTD mainly focuses on scenes such as self-drinking. The report provides a reference for understanding the Chinese liquor market by analyzing the alcohol consumption trends in the United States and Japan.