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啤酒“革命”,靠什么征服新世界的味蕾?
Sou Hu Cai Jing·2025-09-04 16:37

Core Insights - The Chinese beer industry is undergoing significant transformation driven by changing consumer preferences, particularly among younger generations who favor unique and high-quality products over traditional mass-market options [3][4][16] - The market size for beer in China is projected to reach 180 billion yuan in 2024, with a year-on-year growth of 3.2%, while mid-to-high-end products are experiencing a notable increase in sales [3][4] Market Trends - Traditional economy beer sales are declining, while mid-to-high-end products have seen a 12.7% growth, and craft beer has surged by 31.4% [3] - The profit share of high-end product lines has increased from 28% in 2020 to 47% in the first half of 2025, indicating a shift from "scale victory" to "value supremacy" in the industry [3][4] Consumer Behavior - The Z generation is reshaping beer consumption, moving away from quantity to quality, with a preference for craft and flavored beers [4][5] - Data from Meituan shows a 143% increase in searches for craft and specialty beers in night-time orders during the first half of 2025 [4] - Consumers aged 25-35 contribute 62% of the growth in high-end beer, spending an average of 3,200 yuan annually, which is 2.3 times that of consumers aged 45 and above [4] Product Innovation - The era of industrial lagers is ending, with a focus on flavor diversification becoming mainstream [6][7] - Yanjing's U8 series generated 5.536 billion yuan in revenue in the first half of 2025, accounting for 70.11% of its total revenue, with a gross margin of 51.71% [6] - Jin Xing Brewery is innovating by integrating local resources, such as using Xinyang Maojian tea in their craft beer, which has gained significant consumer interest [6][7] Channel Evolution - The beer consumption landscape is shifting from traditional dining channels to diverse settings like craft beer bars and home consumption [5][10] - Instant retail is on the rise, with CR Beer reporting a nearly 50% year-on-year growth in instant retail GMV in the first half of 2025 [5][10] - E-commerce is evolving from mere sales to emotional connections, with Douyin live-streaming beer sales increasing by 83% during the "618" shopping festival in 2025 [10] Capital Dynamics - The beer market transformation is prompting a reconfiguration of capital strategies, with companies focusing on product structure and high-end market share [12][13] - CR Beer reported a revenue of 23.94 billion yuan in the first half of 2025, with a net profit of 5.789 billion yuan, highlighting a trend of "slight revenue increase but significant profit growth" [12] - International brands are deepening localization efforts, with Budweiser Asia Pacific launching 14 local flavor products in the first half of 2025 [12][13] Future Outlook - The future of the beer industry will focus on personalization, health, and premiumization, with low-alcohol beers expected to account for 25% of the market by 2030 [14][15] - Digitalization will permeate the entire industry chain, enhancing efficiency and product quality [14] - Sustainable development is becoming a consensus in the industry, with companies like Budweiser China reducing water and energy consumption significantly [14][15]