11月18-20日，来厦门AIIC 2025酒业创新与投资大会，进行一场创新与投资的双向奔赴，一次产业与未来的深度交流对于行业寻求融资的创新。 企业而言，这不仅是可以一次性、高效率直面中国酒业投资集群，与资本进行深度对话的战略窗口，也是一个直链酒类产业上下游优质资源、对接 全国渠道网络的独特平台。 文｜刘娟 近年来，酒业进入存量挤压、结构升级的多重调整周期中。白酒产量连续七年下滑，白酒库存高企、价格倒挂频现；与此同时，低度酒、新酒饮却逆势增 长，资本风向迅速调转。 以新酒饮赛道为例，目前这一细分品类已重回高增长轨道，数据显示其规模预计将在2025年增至743亿-750亿元，年复合增速维持在25%-30%。 目前，大会已邀请到复星集团、晨哨集团、L Catterton路威凯腾、CPE源峰、宝捷会、黑蚁资本、嘉御资本、加华资本、美团龙珠、启承资本、天图资 本、青山资本、绝了基金、光点资本、弘章资本、草根知本、金鼎资本、凯辉基金、日初资本、华映资本等多家主流投资机构莅临现场。 这些机构覆盖消费赛道全周期投资，既有深耕酒业的产业资本，也有擅长孵化新锐品牌的创投力量，将带来最前沿的投资视角与合作机会。 大会还将携手这些 ...

Core Insights - The report highlights the significant impact of macroeconomic changes and consumer behavior on the liquor industry in the first half of 2025, indicating a shift towards online growth and personal drinking scenarios [1][4]. Economic Overview - China's GDP growth for the first half of 2025 is projected at 5.3%, reflecting resilience but facing challenges in consumer sentiment [1][13]. - Consumption policies have been implemented, with a total of nearly 370 billion yuan in subsidies targeting newborns, students, and low-income groups, contributing to market recovery [1][17]. Consumer Behavior - A "frugal" mindset is prevalent among consumers, with 72% seeking additional income sources and 47% focusing on essential purchases to avoid waste [2][11]. - Quality (35%), cost-effectiveness (31%), and brand recognition (23%) are the primary considerations for consumers, indicating a shift towards rational consumption [2][11]. Sales Channel Dynamics - In the first half of 2025, the overall sales of fast-moving consumer goods (FMCG) grew by 4.7%, with online channels leading at a growth rate of 21.1%, while offline channels saw a decline of 4.3% [2][3]. - Online sales of liquor are driven by competitive pricing and the growing influence of younger consumers, while traditional retail faces significant pressure [2][3]. Liquor Market Trends - The liquor market shows a divergence between online and offline performance, with an online index of 61.30, significantly above the benchmark, driven primarily by strong sales of white liquor [3][4]. - The offline supermarket index is at 49.77, close to the benchmark, indicating stable pricing but declining volumes, particularly in white and red wines [3][4]. Consumption Scenarios - There is a notable shift from collective drinking occasions to personal drinking experiences, with consumers increasingly favoring home consumption and relaxation [4][5]. - The demand for smaller packaging and lower-alcohol products is rising, reflecting the changing preferences of consumers [4][5]. Price Trends - The liquor market exhibits a "polarization" in pricing, with significant growth in both economy-priced and high-end products, while mid-range products see slower growth [4][5]. - Different liquor types show varying price spans, with some covering both mass and premium markets, while others focus on mass consumption [4][5]. Future Outlook - The liquor industry is expected to align closely with evolving consumer demands, channel transformations, and product innovations [5]. - Companies are encouraged to enhance online marketing and adapt to younger consumer preferences while revitalizing offline channels through experiential upgrades [5].