Core Insights - The low-alcohol beverage market in China has rapidly expanded, with market size projected to grow from 200 billion yuan in 2020 to over 570 billion yuan by 2024, and globally reaching 634.17 billion yuan in 2023, expected to exceed 740 billion yuan by 2025 [1][4][6] - The shift in consumer preferences from traditional high-alcohol beverages to low-alcohol options is driven by younger generations seeking healthier and more enjoyable drinking experiences [5][6][8] - The market is becoming increasingly competitive with new brands entering, including traditional liquor companies and retail chains launching their own low-alcohol products [5][9][12] Market Trends - The rise of low-alcohol beverages is characterized by a cultural shift from "drinking for social obligation" to "drinking for personal enjoyment," with 50% of consumption occurring at home and a 56% increase in outdoor activities like camping [5][6] - Young consumers aged 18-35 account for 68% of sales, with a significant portion being female [5][6] - Health concerns are a primary motivator for Gen Z consumers choosing low-alcohol options, as traditional high-alcohol spirits are viewed as outdated [6][8] Competitive Landscape - Established brands like RIO and emerging players such as Mei Jian and Bei Rui Tian Xin are competing for market share, with RIO facing challenges due to declining sales and brand fatigue [2][9][11] - Traditional liquor companies like Moutai and Wuliangye are diversifying into low-alcohol products, while retail chains like Hema and Haidilao are also launching their own offerings [5][9] - The market is characterized by a lack of standout brands, with many new entrants struggling to differentiate themselves in a crowded space [12] Consumer Behavior - Young consumers prefer low-alcohol products that are smooth and sweet, contrasting with the strong flavors of traditional spirits [8] - The use of social media has significantly increased the visibility and popularity of low-alcohol beverages, with discussions on platforms tripling in 2020 [4] - The trend towards low-alcohol beverages is not just a passing fad; it reflects a deeper cultural shift in drinking habits among younger generations [5][6]

新浪财经"酒价内参"过去24小时中收集的数据显示，中国 白酒 市场十大单品的终端零售均价周二呈高 位盘整态势，整体价格小幅回调。如果十大单品各取一瓶整体打包售卖，今日总售价为9202元，较昨日 回落8元。市场在经历12月中下旬大幅波动后，似乎将以平稳姿态收官年末。 今日市场表现分化涨跌互现，多个酒品涨跌幅度较大，但个票大涨跌整体小输赢，市场在年末时点呈现 典型的资金与情绪博弈特征。上涨产品中，习酒君品价格环比上涨12元/瓶，领涨市场，此前君品经历 了三连跌。 贵州茅台 精品价格延续强势，环比上涨9元/瓶，实现三连阳，站上2400元/瓶大关。国窖 1573价格上涨7元/瓶，表现稳健。青花汾20价格上涨6元/瓶。洋河梦之蓝M6+价格小涨4元/瓶。下跌产 品方面， 五粮液 普五八代价格回调明显，跌幅达到21元/瓶，险守800元/瓶关口，昨日市场出现两笔低 于该价位的大量卖单。青花郎价格下跌13元/瓶，之前青花郎连续八天上涨，累计涨幅达45元/瓶。古井 贡古20价格下跌5元/瓶。飞天茅台与水晶剑南春价格分别下跌4元/瓶和3元/瓶。 "酒价内参"的每日数据源自全国各大区均有合理分布的约200个采集点，包括但不限于酒企的 ...

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 新浪财经"酒价内参"过去24小时中收集的数据显示，中国白酒市场十大单品的终端零售均价周二呈高位 盘整态势，整体价格小幅回调。如果十大单品各取一瓶整体打包售卖，今日总售价为9202元，较昨日回 落8元。市场在经历12月中下旬大幅波动后，似乎将以平稳姿态收官年末。 "酒价内参"的每日数据源自全国各大区均有合理分布的约200个采集点，包括但不限于酒企的指定经销 商、社会经销商、主流电商平台和零售网点等，原始取样数据为过去24个小时中各点位经手的真实成交 终端零售价格，力求为社会各界提供一份关于知名白酒市场价格的客观、真实、科学、全程可追溯的数 据。 【点击进入酒价内参，查看真实酒价】 白酒行业的市场动态方面，据佳酿网报道，郎酒日前在南京召开的"中国郎伙伴计划"大会，宣布江苏是 其最高等级的"战略型发展市场"，未来三年将进行"饱和攻击"，誓要打造一个全新的江苏市场。洋河虽 然一直把江苏市场视为"大本营"，但近些年其影响力在减弱，市场萎缩态势明显。郎酒此举大举"入 侵"，大有对洋河形成"兵临城下" 之势。如今，川酒、黔酒、徽酒与洋河们角逐江苏市场，恰好印证了 这 ...

Core Insights - The core viewpoint of the article is that the Chinese liquor market, particularly for the top ten baijiu products, is experiencing a high-level consolidation with slight price adjustments, indicating a stable market as the year ends [1][6]. Price Trends - The average retail price for the top ten baijiu products is 9,202 yuan, down by 8 yuan from the previous day [1][6]. - Price fluctuations are noted, with some products increasing while others decrease, reflecting a typical year-end market behavior characterized by capital and emotional trading [7]. Product Performance - Notable price increases include: - Xijiu Junpin: up 12 yuan/bottle - Guizhou Moutai (Premium): up 9 yuan/bottle, reaching 2,400 yuan/bottle - Guojiao 1573: up 7 yuan/bottle - Qinghua Fen 20: up 6 yuan/bottle - Yanghe Dream Blue M6+: up 4 yuan/bottle [7][10]. - Significant price decreases include: - Wuliangye Pu 58th Generation: down 21 yuan/bottle, nearing the 800 yuan/bottle mark - Qinghua Lang: down 13 yuan/bottle - Gujing Gonggu 20: down 5 yuan/bottle - Feitian Moutai and Shuijing Jianan Chun: down 4 yuan and 3 yuan/bottle respectively [7][10]. Market Dynamics - The data for the "Liquor Price Reference" is sourced from approximately 200 collection points across major regions, including designated distributors and mainstream e-commerce platforms, aiming to provide objective and traceable market price data [2][6]. - In industry dynamics, Langjiu has announced a strategic focus on Jiangsu as a key development market, planning aggressive market penetration over the next three years, which may challenge Yanghe's traditional dominance in the region [3][8].

新浪财经"酒价内参"过去24小时中收集的数据显示，中国白酒市场十大单品的终端零售均价周二呈高位盘 整态势，整体价格小幅回调。如果十大单品各取一瓶整体打包售卖，今日总售价为9202元，较昨日回落8 元。市场在经历12月中下旬大幅波动后，似乎将以平稳姿态收官年末。今日市场表现分化涨跌互现，多个 酒品涨跌幅度较大，但个票大涨跌整体小输赢，市场在年末时点呈现典型的资金与情绪博弈特征。上涨产 品中，习酒君品价格环比上涨12元/瓶，领涨市场，此前君品经历了三连跌。贵州茅台精品价格延续强势， 环比上涨9元/瓶，实现三连阳，站上2400元/瓶大关。国窖1573价格上涨7元/瓶，表现稳健。青花汾20价格 上涨6元/瓶。洋河梦之蓝M6+价格小涨4元/瓶。下跌产品方面，五粮液普五八代价格回调明显，跌幅达到 21元/瓶，险守800元/瓶关口，昨日市场出现两笔低于该价位的大量卖单。青花郎价格下跌13元/瓶，之前青 花郎连续八天上涨，累计涨幅达45元/瓶。古井贡古20价格下跌5元/瓶。飞天茅台与水晶剑南春价格分别下 跌4元/瓶和3元/瓶。 | 中国知名白酒大单品 | 市场真实成交终端价 | | | --- | --- | --- | | ...

吃喝板块今日（12月29日）深陷回调，反映吃喝板块整体走势的食品饮料ETF华宝（515710）开盘后震 荡下行，盘中场内价格一度跌超1%，截至收盘，跌0.84%。 成份股方面，大众品跌幅居前，部分白酒股亦表现不佳。截至收盘，妙可蓝多大跌9.28%，古井贡酒、 金禾实业双双跌超3%，贵州茅台、五粮液、泸州老窖、山西汾酒、洋河股份等白酒龙头集体收绿。 | 分时 多日 1分 5分 15分 30分 60分 · | F9 盘前盘后 壁加 九转 面试 工具 @ 2 | 食品饮料ETF华宝 ① | 515710 | 515710[食品饮料ETF华宝] 14:45 价 0.589 温庆 -0.006(-1.01%) 均价 0.590 版交量 54. | 0.590 | -0.005 -0.84% | 0.60 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 通航7 章 4 | SSE CNY ...

Investment Rating - The industry investment rating is "Positive" and is maintained [9] Core Viewpoints - The liquor sector is experiencing a phase of "supply optimization and weak demand recovery," with inventory destocking expected to continue in Q4. Short-term price recovery is anticipated due to Moutai's controlled supply, with attention on Spring Festival sales and inventory turnover [2][5] - Demand for mass consumer goods is expected to show marginal recovery, with January anticipated to see a strong start due to delayed Spring Festival stocking [2][5] - The latest recommended companies include Ganhe Weiye, Guoquan, Anqi Yeast, Babi Foods, Ligao Foods, Wancheng Group, Anjii Foods, Kuaijishan, Shanxi Fenjiu, Yanghe, and Guizhou Moutai [2][5] Summary by Sections Production Data - In November, the industry production data revealed that meat and soft drinks led the growth, with meat production increasing by 16.3% and soft drinks by 0.4%. Other categories, such as alcoholic beverages, continue to face downward pressure [4][16] - Non-alcoholic categories showed stable production growth, with notable increases in fresh and chilled meat production, driven by declining prices of core items like pork, stimulating demand [20] Market Review - Since the beginning of the year, the Food and Beverage (Yangtze) Index has decreased by 4.22%, underperforming compared to the CSI 300. The market has seen significant differentiation, particularly in Q2 and Q3, due to consumption scene restrictions and a trend towards cost-effective consumption preferences [6][28] - In the past week, the restaurant supply chain sector (including food and condiments) has outperformed, while the liquor sector (including beer and wine) has shown relatively weak performance [6][28] Industry Dynamics - Companies in the soft drink sector are focusing on core categories to enhance competitiveness, such as Yuanqi Forest divesting its dairy business to concentrate on tea and sparkling water. Cross-industry innovations are also being explored, with new products like rice whiskey targeting specific dining scenarios [7][34] - Digital transformation and employee incentives are driving channel changes, with integrated online and offline strategies becoming mainstream. Companies like Luckin Coffee and Three Squirrels are rapidly expanding into high-traffic areas [7][34]

从个股来看，贵州茅台收盘价达1402.00元/股，下跌0.86%；五粮液收盘价达108.06元/股，下跌1.57%； 山西汾酒收盘价达175.00元/股，下跌1.52%；泸州老窖收盘价达117.21元/股，下跌1.83%；洋河股份收 盘价达61.47元/股，下跌1.06%。 中信证券研报称，近期头部酒企陆续召开重要会议，传递调整、改革、渠道再平衡决心，有利于行业长 期健康发展。今年四季度以来，白酒头部企业均采取持续控制发货、为经销商减负、促进开瓶动销等措 施，以降低渠道库存。综合考虑到动销已逐步平稳、白酒春节消费场景等诸多因素，预计2026年春节白 酒实际动销有望维持平稳 北京商报讯（记者 刘一博 冯若男）12月29日尾盘，沪指3965.28点上涨0.04%。白酒板块2184.11点收盘 下跌1.16%，其中18只白酒股下跌，贵州茅台1402元/股收盘。 ...

然而，2025年，洋河在韩国市场完成了一次从云端到货架的精准衔接，勾勒出一条清晰的破局路径：2025年，其梦之蓝系列亮相韩国首尔举办的APEC领 导人会议周青瓦台国宴；同年，就在行业销售普遍下滑、免税渠道整体承压的背景下，洋河不仅稳居中国白酒韩国免税渠道销量榜首，更以23%的增速实 现逆势领跑行业。 这不仅是两个孤立的高光节点，更是一场步步为营的战略递进。正是凭借这种从品牌势能到渠道动能的系统转化，洋河已将市场拓展至全球六大洲86个国 家和地区，并实现了近三年海外销售额的持续增长。 在香港国际美酒展上，香港财政司司长陈茂波亲临洋河展厅予以高度评价；在塞尔维亚"开放巴尔干"博览会的现场，总统武契奇品鉴梦之蓝后，对其绵柔 口感称赞"pretty good"并签名留念。这些来自核心政要的即席赞誉，在行业圈层内构成了极具分量的信任状。 以"礼"立信：国宴背书敲开高端渠道 相关数据显示，中国白酒出口额仅占全球烈酒市场的2.4%。中国白酒出海之路，历来阻力重重。其中，在国际主流渠道被传统烈酒巨头长期把持的格局 下，"渠道破局"成为中国白酒出海必须攻克的最后也是最艰难的一公里。 面对免税渠道严苛的选品标准与陌生的中国白酒， ...

Core Insights - The core viewpoint of the article is that the Chinese liquor market, particularly the top ten liquor products, has shown signs of price recovery after a brief decline, with an overall increase in retail prices observed on Monday [1][6]. Price Trends - The average retail price of the top ten liquor products has stabilized and rebounded, with a total price of 9,210 yuan for a bundled sale of one bottle from each product, reflecting an increase of 23 yuan from the previous day [1][6]. - The market is experiencing a general upward trend, with most brands seeing price increases. Notably, Yanghe Dream Blue M6+ saw a significant rebound of 12 yuan per bottle, leading the market [1][7]. - Other notable price increases include: - Qinghua Lang up 7 yuan per bottle, marking its eighth consecutive day of price increases [1][7]. - Wuliangye Pu 58th generation up 5 yuan per bottle [1][7]. - Qinghua Fen 20 up 4 yuan per bottle [1][7]. - Guizhou Moutai premium up 3 yuan per bottle [1][7]. - Gujing Gong 20 and Shuijing Jian Nan Chun each up 1 yuan per bottle [1][7]. - Conversely, some products have seen price declines, including: - Xijiu Junpin down 6 yuan per bottle, continuing a three-day downward trend [1][7]. - Guojiao 1573 down 4 yuan per bottle [1][7]. - Feitian Moutai down 3 yuan per bottle [1][7]. Data Collection Methodology - The daily data for "Liquor Price Reference" is sourced from approximately 200 collection points across various regions, including designated distributors, social distributors, mainstream e-commerce platforms, and retail outlets, ensuring a comprehensive and objective representation of the market [2][7]. Industry Developments - On December 28, Guizhou Moutai held a national distributor conference, where the new management team emphasized respect and openness towards distributors and outlined a development strategy for 2026 [2][7]. - Moutai acknowledged its shortcomings in marketization and consumer reach while asserting the broad market potential for Moutai liquor [2][7]. - The core plan for the upcoming year includes preventing price speculation, promoting market-driven pricing, and establishing a pyramid product system centered around the 500ml Feitian Moutai as the main product [2][7]. - Moutai aims to enhance online and offline integration, encouraging compliant distributors to expand online business while focusing on consumer-centric marketing transformation [2][7]. - The chairman, Chen Hua, redefined the relationship with distributors, promising not to let them incur losses while urging a shift from passive to proactive consumer service [2][7].