China’s liquor market remained weak in first half of this year – industry association
VIEWS & ANALYSIS
China’s liquor market remained weak in first half of this year – industry association
VIEWS & ANALYSIS

China’s liquor market remained weak in first half of this year – industry association

 

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Since 2022, China’s liquor consumption have been hit hard due to the impact of external factors, and although the Spring Festival in 2023 brought some recovery, liquor consumption cooled down again in March, said the China Alcoholic Drinks Association in a report.

Although the liquor market recovered in May driven by banquet demand, the market remains in a weak recovery, it said. 

During the first five months of this year, 36% of surveyed liquor distributors said the pressure on their cash flow had increased compared to the same period in 2022, 48% said their inventory pressure increased, and 64% said that the degree of “market price inversion” had intensified, it said.