Text丨Liquor Industry Team (ID: jiuyejia360).
Planning丨DustEdit丨Cloud crossingEditor丨Genting.
"Head" is the key word of the soy sauce and wine industry.
A few days ago, the "2023-2024 China Sauce and Liquor Industry Development Report" (hereinafter referred to as the "Report") of Quantu Sauce and Liquor Studio, which was first released by the wine industry, attracted great attention from the industry, and the number of reads exceeded 100,000+ in less than 24 hours after its release. Quan Tu is a senior research expert in China's soy sauce wine industry, focusing on the research of soy sauce wine industry for 15 years, and has long served as an industrial consultant and strategic consultant for multi-level, listed companies and head soy sauce wine companies.
Throughout this year's report, one of the most core and most concerned points of the industry is that China's soy sauce wine has opened the involution period, and the lineup of head brands (the top five in the industry) has been relatively clear, which also means that the era of brand competition for soy sauce wine has begun.
Branding and centralization are the only way for the development of the soy sauce and liquor industry, and it is also the only strategic choice for mainstream soy sauce and liquor companies. In the next 5-10 years, the mainstream (top 10) brands in the soy sauce wine market will be fully revealed. This also means that the soy sauce wine industry will officially enter the era of famous wine. Quan Tu said to the wine industry.
The head of the soy sauce wine is becoming more and more intense.
The top five line-up is relatively clear.
Soy sauce wine has rapidly entered the era of head development from category fever to channel fever, and now to show brand and consumption fever. At present, on the one hand, the soy sauce wine industry continues to increase its share and scale of the industry, and on the other hand, the soy sauce and wine brands in the head cluster will develop in depth and improve their scale through stock competition, and the process of becoming the head is intensifying.
According to the report, the overall scale of the soy sauce and wine industry in 2023 will be about 230 billion yuan. According to the estimation of the wine industry, among the 230 billion huge industry "cake", only the top three brands in the Moutai (shares), Langjiu and Xijiu industries have taken about 190 billion, accounting for 82% of the overall share of soy sauce wine13%。
At the same time, the scale of the soy sauce and wine industry has increased from 155 billion in 2020 to 230 billion in 2023, and the overall scale has increased by about 75 billion in four years. In the same four years, the overall scale of the above three companies has increased by nearly 80 billion. This does not mean that the top three have taken all the growth of the industry, but it further reflects the strong trend of industry concentration and heading.
Guizhou Zhenjiu Zhaojiagou Ecological Liquor Zone.
In the next 5-10 years, the soy sauce wine will complete the head-headed sorting. Quan Tu told the wine industry that the top three soy sauce wine are relatively certain, but there are still variables and dynamic evolution processes from the fourth place to the tenth place, and the top ten in the soy sauce wine industry should have a relatively stable ranking in the next 5-10 years.
The report also shows that from the current ranking of soy sauce brands, the lineup of head brands (the top five in the industry) has been relatively clear, and Moutai, Langjiu, Xijiu, Zhenjiu, and Guotai have become the top five soy sauce brands in the industry, which is also the biggest driving force for the head process of soy sauce wine. As a supercarrier, Moutai no longer needs to be repeated; Xijiu and Langjiu will both achieve double-digit growth in 2023 after exceeding 20 billion in 2022, exceeding 22 billion; The revenue of the three mainstream enterprises, Zhenjiu, Guotai and Moutai Health Liquor, is about 5 billion to 7 billion.
At the same time, the study also reveals that the head of soy sauce wine is not a simple head of scale, but also the head of all elements of soy sauce wine management, such as capital, production capacity, brand, channel, team, and market share.
Zhenjiu, which is mentioned many times in the report, is one of the strong contenders with these elements. "In particular, Guizhou Zhenjiu, whether in the expansion of production capacity, or the improvement of brand awareness, or the construction of national channels, as well as the overall morale of the team, there has been a significant and qualitative improvement, and Quantu Sauce Liquor Studio is very optimistic about the huge development potential of Guizhou Zhenjiu in the soy sauce wine market in the future. The report specifically states:
The soy sauce and wine industry is still growing at a high rate.
Zhenjiu is expected to reach 20 billion in the next five years.
Under the main theme of "heading" on the supply side, the trend of consumption expansion is also extremely obvious from the demand side.
The report pointed out that from the research of the national mainstream market in 2023, the trend of sauce flavoring of core consumer groups is still expanding, and this expansion trend is irreversible. According to the tracking and research of the main soy sauce wine markets in the country by Quantu Sauce Wine Studio for more than ten years, the penetration rate of sauce flavor in Guizhou, Shandong, Henan, Guangdong, Fujian, Guangxi, Hainan and other markets exceeds 50%, and the sauce flavor atmosphere in other provinces continues to expand. Nationally, the overall consumption penetration rate of soy sauce wine has exceeded 30% and is expected to exceed 50% within a decade. At the same time, the high-quality development of Moutai will also lead to the further rapid growth of the soy sauce wine industry and the soy sauce wine market.
There is no doubt that the leading enterprises undoubtedly have more certainty of development and will become the maximum beneficiaries of industrial expansion. In the future, 90%-95% of the market will be occupied by big brands. Judging from the current competition situation in the industry, the "offensive" of the top soy sauce wine brands is still strengthening, and they are constantly "conquering the city" in the market, terminal and consumer with their own brand advantages, channel advantages, talent advantages and even financial advantages.
As Quan Tu said, on the one hand, the head enterprises have accumulated sufficient industrial advantages in terms of production capacity, products, channels, brands and other fundamentals; On the other hand, in terms of non-fundamental elements such as corporate capital and strategy, leading enterprises not only have more resource advantages, but also pay more attention to high-quality growth, and realize the evolution from channel growth to quality-driven, brand-driven and consumption-driven.
Taking Zhenjiu Liquor as an example, from a fundamental point of view, in terms of production capacity, Zhenjiu Liquor will be put into production to 40,000 tons in 2023, ranking among the top three in Guizhou; On the product side, Zhenjiu Liquor has occupied the four main belts of ultra-high-end, high-end, sub-high-end, and mid-to-high-end, especially Zhenjiu Real Vintage Liquor series has achieved good results in the ultra-high-end soy sauce wine market by virtue of its product competitiveness.
Three. 10. Zhen 15 has become a representative product of the sub-high-end and above ** belt; On the brand side, the brand power has been significantly improved, and consumers' awareness of Zhenjiu Liquor has continued to rise; On the channel side, there is a dense and solid dealer network and a huge market service team.
From a strategic point of view, Zhenjiu has completed the transformation of the company's growth mode. Taking the market side as an example, in the past two years, Zhenjiu Liquor has been guided by bottle opening, and through effective policy guidance, it has achieved good price control, benign development of social inventory, and achieved contrarian growth in the downward cycle of the industry.
In addition, it is worth noting that Zhenjiu also has the capital advantage of listed companies that a large number of soy sauce and wine companies do not have. The improvement of capital strength, brand endorsement and management mechanism brought by listed companies and public enterprises will undoubtedly greatly promote the rapid and healthy development of enterprises. "Zhenjiu Lidu landed in the first port of the first field, which is of great significance to the future pattern of the soy sauce wine industry and will change the future pattern of soy sauce wine. Quan Tu also said.
Judging from factors such as production capacity reserves, brand tension, existing market share, capital channels brought by listing, and Wu Xiangdong's long-term industrial accumulation, Zhenjiu has the opportunity to impact a better industrial position and market position. I think in ten years, Zhenjiu is expected to reach 30 billion to 50 billion yuan, and in the next five years, it will reach 20 billion yuan. I am very optimistic about Zhenjiu, and I think it is one of the strong competitors of China's leading soy sauce wine companies. Quan Tu said to the wine industry.