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Baijiu Market - Forecast(2021 - 2026)

According to chemical analysis performed by the Technical University of Munich, Chinese people were speculatively the first ones in the world to make alcohol using fermentation of rice, honey, and fruit almost 9,000 years ago.[1] Baijiu, their most popular drink, is perennially high in demand in the country and is making its way to popular bars in first world countries such as United States of America and Canada. Baijiu’s entrance in the international market is credited to a 2007 article printed in Time which suggested the idea of using this tangy beverage in cocktails. Since then, some bars internationally have started popularizing this drink amongst the general public. The Baijiu market is expected to grow with a healthy compound annual growth rate of 6.9% during the forecast period of 2019-2025. 2018 seemed to be a good year for the beverage as the global market size stood at $100 billion. Conventionally recommended to be taken with food and not as a standalone drink, Baijiu has a ...