上海北外滩贵州茅台快闪店 ◎记者 郭成林 高志刚 你见过白酒的"盲盒"吗？ 上海证券报记者注意到，近日，舍得酒业的电商平台旗舰店和社交媒体主页上频现俏皮亮色：公司推出 名为"马上有舍得"的系列小酒盲盒，作为旗下首款明确将年轻人作为主要目标消费群体的酒款。 舍得酒业并非中国白酒试水"年轻化"的孤例。 近年来，一批白酒企业在产品研发、市场营销、品牌传播等方面进行了各种创新探索。随着新生代逐渐 成为消费主力，行业亦正经历一场全方位的深刻重塑。 "低度化是迎合新生代对微醺感觉的重要方向和手段。"中国食品产业分析师朱丹蓬在接受上海证券报记 者采访时分析，老一代酒桌文化的核心更多是"悦人"，而新生代已转向"悦己"，这背后的消费逻辑已发 生根本变化。 中国酒业协会数据显示，2025年低度酒市场规模将突破740亿元，年复合增长率达25%，这一增速远超 白酒行业整体水平。 酒企掀起"降度潮" 中国酒业协会报告显示，白酒主力消费群体正在进行代际更迭：1985年至1994年出生人群已成为新主 力，占比达34%；1995年后出生的成年群体占比达18%，年轻消费力量持续崛起。 基于对消费趋势的敏锐洞察，今年以来，多家白酒企业加速布局低 ...

酒行业丨市场观察 本周看点： -"硬汉精英"退场，白酒代言人焕新； -高端啤酒"战场"生变：华润、青啤、燕京集体"围剿"百威； -宴席市场成业绩突围"新战场"？ 行业环境 1."硬汉精英"退场，白酒代言人焕新 关键词 ： 白酒代言人,年轻艺人,营销方式,价值主张,生活方式 概要 ： 近年来，白酒行业代言人策略发生显著变化，从过去偏好中年男性代言人转向年轻 化、多元化的明星艺人，如邓紫棋、张艺兴、黄渤、徐志胜等。这一转变反映了白酒品牌从传 统厚重形象向年轻化、生活化转型的趋势，旨在通过"社交货币"而非"权威背书"吸引新生代消 费者。代言人不仅是流量入口，更是品牌与消费者情感连接的桥梁，帮助白酒企业从"卖酒"转 向"卖生活方式"。同时，营销逻辑也从渠道驱动转向消费者驱动，注重社群互动和用户共创， 以增强品牌认同。这一系列变化标志着白酒行业正加速适应消费者主权时代，寻求与年轻群体 的深度共鸣。 2.光瓶酒冷热分化：牛栏山等失意，玻汾"封神"？ 关键词 ： 光瓶酒市场,消费升级,行业洗牌,高线光瓶酒,理性消费 概要 ： 光瓶酒市场呈现"冰火两重天"态势：传统品牌如牛栏山因低价竞争导致营收利润大幅下 滑，而汾酒玻汾等产 ...

中经酒业周报密切关注酒业发展情况，及时捕捉行业及企业最新动态。本期看点：8酒企上榜中国制造业企业500强，2025年IWSC首届中国区（邛崃）烈性 酒大赛启动，茅台9月终端动销同比增20%。酒业大事尽在掌握。 行业动态 9月23日，由中国酒类流通协会指导，IWSC国际葡萄酒与烈性酒大赛组委会、四川省酒业协会共同主办的邛崃国际美酒季系列活动暨2025IWSC首届中国区 （邛崃）烈性酒大赛在中国酒业梦工场启动。IWSC国际烈性酒大赛首次落户亚洲，大赛组委会聘请多位国际权威专家担任"邛酒国际推广大使"，向世界传 播邛酒文化、讲述邛酒故事，助力邛酒提升国际品牌识别度和市场竞争力。（邛崃市人民政府官网） 5. 中国国际黄酒产业博览会定档 11月7日至12日，2025中国国际黄酒产业博览会将在浙江省绍兴市黄酒小镇（东浦）举行。本次展会将设有六大展区：国粹黄酒展区、全国黄酒特色产区、 绍兴黄酒地标企业展区、黄酒技术成果展区、黄酒直播带货专区、国际专区；同期将举办绍兴黄酒全球推介会、中国黄酒产业发展振兴大会、黄酒嘉年华活 动、黄酒创意挑战赛等十余项活动。（中国酒业协会CADA公众号） 1. 8酒企上榜中国制造业企业500强 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The white liquor industry is undergoing a significant transformation with a shift towards younger and more diverse brand ambassadors, moving from traditional middle-aged male figures to younger celebrities to connect with new generations of consumers [2] - The high-end beer market is experiencing a competitive shift, with local brands like China Resources and Qingdao Beer gaining ground against international players like Budweiser [4] - The banquet market is emerging as a new battleground for revenue growth, with several liquor companies reporting double-digit growth in this segment [5] - The direct sales revenue of eight listed liquor companies exceeded 640 billion yuan in the first half of the year, with Moutai and Wuliangye leading the market [6] - The low-alcohol product segment is rapidly growing, with expectations to surpass 742 billion yuan by 2025, driven by changing consumer preferences [8] Summary by Sections Industry Trends - The white liquor industry is shifting towards younger brand ambassadors, reflecting a broader trend of appealing to younger consumers through lifestyle marketing [2] - The light bottle liquor market is experiencing a split, with traditional brands struggling while high-quality products like Guojiao are in high demand [2] - The high-end beer market is seeing local brands outperform international ones, with China Resources surpassing Budweiser in revenue [4] - The banquet market is becoming a key area for growth as companies adapt to changing consumer behaviors [5] - The direct sales model is gaining traction, with significant revenue growth reported by leading companies [6] - The low-alcohol segment is expected to grow rapidly, indicating a shift in consumer preferences towards lighter beverages [8] Top Brand News - Songhe Liquor is enhancing its quality strategy and aims for long-term growth through a focus on aged products [10] - The launch of "Dazhen·Zhenjiu" marks a significant entry into the high-end liquor market, leveraging a strong sales strategy [11] - Gujing Gongjiu is integrating cultural elements into consumer experiences to enhance brand engagement [13] - The "UMEET" blueberry distilled liquor targets younger consumers by combining health and quality [20] - The collaboration between Huajun Media and Bojiangfang aims to reshape the market for sauce-flavored liquor through strategic marketing [19]

9月23日，由茅台集团、汾酒集团、泸州老窖和西凤集团共同主办，西凤集团承办的以"守正创新酿造美好 同心致远再启新程"为主题的第八届"中国四大 名白酒杯"男子篮球邀请赛在陕西宝鸡开赛。 茅台集团党委书记、董事长张德芹，汾酒集团党委书记、董事长袁清茂，泸州老窖集团（股份）公司党委书记、董事长刘淼，西凤集团公司党委书记、董 事长、股份公司董事长张正，陕西省体育总会副会长、陕西省篮球协会主席王立彬，茅台集团党委副书记、工会主席高山，汾酒集团党委委员、副总经 理、工会主席刘卫华，泸州老窖股份有限公司党委委员、副总经理、工会主席熊娉婷，西凤集团公司党委副书记杨宏亮，西凤集团党委委员、股份公司总 经理张周虎及公司部分高管出席开幕式。茅台集团、汾酒集团、泸州老窖、西凤集团相关部门负责人参加开幕式。西凤集团公司党委副书记、工会主席郭 拴新主持开幕式。 张正致辞 张正在致辞中表示，四大名白酒以酒为媒、以情相交、以心聚力，在碰撞中共进，构建共谋发展的价值共同体，赋能行业健康前行。篮球作为桥梁纽带， 生动诠释了企业"在竞争中合作、在合作中共赢"的理念，成为行业聚力向上的象征。球场内外的碰撞与交流，映照着市场大潮中既竞争又彼此成就的智 ...

Core Viewpoint - The return of the classic white liquor milk tea "Drunk Step on the Road" by the new tea drink brand Cha Baidao highlights the growing trend of cross-industry collaboration between liquor and tea drink brands, aiming to capture the expanding market of young consumers in the "micro-drunk economy" [1][9][10]. Group 1: Product Launch and Market Response - "Drunk Step on the Road" was first launched in 2020 as a collaboration between Cha Baidao and Luzhou Laojiao, and it has made a comeback after five years, achieving nearly 120,000 cups sold on its first day [1][2]. - The product has generated significant buzz on social media, with consumers expressing surprise at its taste, which combines milk and a subtle hint of white liquor [2][4]. - Sales of "Drunk Step on the Road" have been strong in various locations, particularly in settings like cinemas where consumers seek a light alcoholic beverage [4][5]. Group 2: Industry Trends and Consumer Behavior - The beverage market is increasingly leaning towards younger, lower-alcohol, and healthier options, with young consumers driving the "micro-drunk economy" [1][9]. - Reports indicate that over 60% of white liquor consumption is now attributed to young consumers aged 18-35, with the potential market size for young drinkers reaching 400 billion yuan [10][11]. - The trend of cross-industry collaborations is seen as a way for liquor brands to attract younger consumers, with various brands experimenting with new flavors and marketing strategies [11][12]. Group 3: Future Outlook and Challenges - Industry experts suggest that while the initial sales of "Drunk Step on the Road" are promising, long-term success will depend on the product's ability to encourage repeat purchases [8][15]. - The market for low-alcohol beverages is growing, with a reported market size of approximately 634.1 billion yuan in 2023, indicating a shift in consumer preferences towards lighter options [15]. - Experts caution that the novelty of liquor and tea drink collaborations may wear off, and brands need to focus on product quality and consumer engagement to sustain interest and sales [16].

来源：文轩财经 对此，文轩指数推出2025上半年白酒企业活力排名，活力是企业发展的必备条件，是创新和适应市场变化的内在能力，我们从多项数据维度评判 白酒企业的活力指数，试图探究白酒行业的一些发展趋势。 01 行业"开心"玩家越来越少了 虽然，当前白酒行业处于"量减、收平、利降"的调整期，头部企业营收增速放缓，不少酒企更是出现下跌，这更需要企业在行业逆境之中拔开云 雾！ 2025上半年，22家上市白酒企业中，6家保持了营收和净利润的双增长，包括贵州茅台、五粮液、山西汾酒、古井贡酒、老白干酒和金徽酒。营收 超百亿的企业共6家，包括贵州茅台、五粮液、山西汾酒、泸州老窖、洋河股份、古井贡酒。 以汾酒为例，其青花汾酒30·复兴版升级款采用了"微氧呼吸结构"技术，在年轻化上，注重口感创新，通过开发轻酒饮、鼓励消费者进行创意调 饮，这也开辟了新的销售场景和用户；五粮液深耕微生物、风味物质等基础研究，并积极推动智能化生产，不断巩固其品质优势。 在研发投入上2025年，主要上市酒企的平均研发费用整体看有增无减，2025年上半年，五粮液研发费用2.1亿元， 同比增长31.2%；现代生物技术 复刻老窖泥工程技术的转化应用取得突破， ...

Core Viewpoint - The Chinese liquor industry is shifting from a "business necessity" to a "lifestyle enjoyment" approach, with many companies launching lower-alcohol products to attract younger consumers and enhance market vitality [2][3][4]. Group 1: Industry Trends - Several major liquor companies, including Wuliangye, Luzhou Laojiao, and Shui Jing Fang, are actively introducing lower-alcohol products, indicating a trend towards product diversification and market adaptation [2][3]. - The market for low-alcohol liquor is projected to grow significantly, from approximately 20 billion yuan in 2020 to about 57 billion yuan in 2024, with an expected compound annual growth rate of 30% [4]. Group 2: Consumer Demographics - The primary consumer demographic for liquor is shifting, with older generations gradually exiting the market, while younger consumers, particularly those born after 1985, are becoming the main growth drivers [3][4]. - The younger generation prefers personalized, lower-alcohol, and social drinking experiences, which necessitates a strategic shift for liquor companies to engage this demographic effectively [3][5]. Group 3: Marketing and Sales Strategies - Companies need to adopt innovative marketing strategies, utilizing new media and experiential marketing to resonate with younger consumers and stimulate brand engagement [5][6]. - The current market faces challenges, including a lack of consumption scenarios for low-alcohol products and limited channel profitability, which may hinder sales unless companies implement supportive policies [5][6]. Group 4: Future Directions - Lowering alcohol content is seen as a starting point for companies to connect with younger consumers, but deeper engagement with consumer preferences and behaviors is essential for long-term success [6]. - The industry is entering a new era characterized by rational consumption attitudes, where understanding and responding to the needs of younger consumers will be crucial for driving growth [6].

白酒正在放下"商务刚需"的架子，朝着"生活悦己"的方向发展。9月16日，北京商报记者统计，目前包 括五粮液、泸州老窖、水井坊及舍得酒业等多家白酒上市公司推出低度化产品，主动为白酒产品 降"度"。在这股低度风潮下，不仅有酒企为拓展年轻消费群体深耕存量市场的思考，同时也有通过低度 产品实现与核心主品牌的价值区隔与互补。事实上，酒企想要获得年轻消费者的青睐，不仅是推出产品 那么简单，未来若想要真正成为"年轻人的第一口白酒"，仍需要酒企切实贴近消费者需求。 白酒从业者表示，无论年轻消费群体的潜力，还是市场增速的可观性，其背后不仅蕴藏巨大的增量市 场，同时也为酒企深耕存量市场提供了机会。但目前低度酒市场仍面临诸多挑战，如何真正贴近年轻消 费群体并非是一款产品就能解决的，而是需要企业从战略、产品、渠道以及营销策略全方位布局。 尽管当下低度酒产品相继发布，但若想要真正切入年轻消费市场却并非仅有产品这么简单。纵观当下消 费市场，低度酒仍面临着消费场景缺失的问题，且市场认知与饮用习惯并未建立。目前，白酒消费场景 主要以商务宴请与礼赠等为主，其主要产品以高度、高端白酒产品为主。而在居家自饮、朋友聚会等场 景中，精酿啤酒、预调酒等 ...

Core Viewpoint - The Chinese liquor industry is experiencing a trend towards "low-alcohol" products, with major companies launching new products with alcohol content between 26 to 29 degrees as a strategy to attract younger consumers [1] Industry Summary - Notable companies such as Wuliangye, Luzhou Laojiao, Gujing Gongjiu, and Shede Liquor have introduced ultra-low alcohol products like "Wuliangye·Yijianqingxin," "28-degree Guojiao 1573," "Nianfen Yuanjiang·Gu20," and "Shede·Zizai" [1] - The move is seen as a proactive attempt by the industry to adapt to changing consumer preferences and seek a breakthrough in appealing to younger demographics [1] Expert Opinion - Song Shuyu, Chairman of the China Alcoholic Drinks Association, stated that the low-alcohol trend cannot yet be classified as a definitive trend [1] - He identified that the liquor industry has entered an era of "three rationalities": rational attitudes towards drinking, rational consumption, and rational drinking behavior [1] - Song emphasized the need for the industry to develop new strategies in response to these profound changes and highlighted the lack of systematic research on the drinking habits and behaviors of younger consumers [1] - He urged liquor companies to engage more deeply with the younger demographic to understand their genuine needs [1]