The country’s ongoing property crisis has dinged consumer confidence, reflected in alcohol sales numbers as the purchase of Baijiu increased just 5.3 percent in 2024, the slowest advancement since 2020.

Credits: iStock; Author: zhikun sun;

There are over 8,000 distilleries of Baijiu in China, but the top ten producers have a 54 percent market share, and the premium products are controlled by just three main players, Kweichow Moutai, Wuliangye and Luzhou Laojiao.