The sauce wine industry will enter the era of famous wines, and Zhenjiu will continue to release its growth potential


After the first stage of “golden growth period”, today’s sauce and wine industry is showing a spiral upward trend. Recently, Quantu Sauce Wine Studio released the “2023-2024 China Sauce Wine Industry Development Report” (hereinafter referred to as the “Report”), which shows that the sales revenue of the sauce wine industry will increase from 135 billion yuan in 2019 to 230 billion yuan in 2023. Profits also increased from 55 billion yuan to 94 billion yuan, nearly doubling.

The report also shows that the trend of leadership in the sauce wine industry is becoming more and more obvious, and the top five sauce wine brands in the industry are relatively clear. Guizhou Zhenjiu is one of the strong competitors under this trend. Quan Tu pointed out that from production capacity expansion to brand awareness, to national channel construction and team morale, Zhenjiu has shown obvious and qualitative improvements and has huge development potential in the sauce wine market.

  The industry is open, and the effect of famous wines is highlighted

In the past ten years or so, Guizhou has nurtured many soybean wine companies by virtue of its innate environment and technological advantages, and the “soybean wine craze” has swept the entire industry. Nowadays, consumption tends to be rational and brand-oriented, and the industry has rapidly entered an era of head-oriented development. The future will be an era of “unfolding” famous wines. The “Report” shows that the overall scale of the sauce and wine industry in 2023 will be approximately 230 billion yuan. Judging from the current ranking of Maotai-flavor brands, the lineup of leading brands (the top five in the industry) has been relatively clear. Moutai, Langjiu, Xijiu, Zhenjiu, and Guotai have become the top five Maotai-flavor brands in the industry, and this is why The biggest driving force behind the head-making process of sauce wine.

Research shows that the leadership of sauce wine is not simply the leadership of scale, but requires the leadership of all elements of sauce wine operations such as capital, production capacity, brand, channels, team, and market share. Under the current market background, Guizhou Zhenjiu continues to impact the leading camp and has found its own rhythm.

  Make efforts from multiple dimensions to promote the head-levelization of business elements

The “Report” pointed out that from the survey of the national mainstream market in 2023, the trend of soy sauce flavor among core consumer groups continues to expand, and this expanding trend is irreversible. From a national perspective, the overall consumption penetration rate of sauce wine has exceeded 30%, and is expected to exceed 50% within ten years. The nationalization of sauce wine has become a future development trend. For this change, Zhenjiu has already made plans in advance. According to the news, in the future, Guizhou Zhenjiu will continue to focus on the six core provinces of Guizhou, Henan, Shandong, Hunan, Guangdong, and Jiangsu in accordance with the “6+8+N” national market layout, and cultivate Fujian, Shanghai, Guangxi, Beijing, Jiangxi, The eight key provinces of Shaanxi, Zhejiang, and Hebei will incubate other potential markets across the country that have the atmosphere and foundation of sauce wine.

In the face of the continuous expansion of the consumer market, Zhenjiu has been strengthening its national market layout while also continuing to work hard on production capacity construction, the “ticket” for sauce and wine competition. In recent years, Zhenjiu has successively invested tens of billions of yuan to increase production and expand capacity. In the second sand season of 2023, Zhenjiu will put into production 40,000 tons, and its production capacity will rank among the top three in Guizhou. It is expected that by the end of the “14th Five-Year Plan”, the production capacity of rare wine will reach 50,000 tons, and the wine storage will exceed 100,000 tons.

Relying on its strong production capacity advantage, Zhenjiu has built a rich product matrix, including Zhenjiu·2013 Real Vintage Wine with ultra-high-end positioning to achieve brand differentiation and high-end; and Zhenjiu·Zhen30 with sub-high-end price range , as well as the representative products Zhenjiu·Zhenshiwu in the mid-to-high-end price range, accumulating brand reputation; Lao Guizhou Zhenjiu and Azalea are in the mid-range price range. At the same time, they continue to launch new products and cultural and creative products to seize market share and form competitive synergies. .

As an industry that relies heavily on offline channels, leading liquor brands usually have dealer networks across the country. To achieve structural growth, brands must continue to develop deeply in regions and channels. Currently, through professional guidance, some of Zhenjiu’s sauce wine products, such as Zhenjiu·Zhenshiwu, have achieved strong sales in some key markets such as Guangdong, Henan, and Shandong, and are moving from group purchase channels to omni-channels. Since 2023, Zhenjiu has been bottle-opening-oriented, and through effective policy guidance, it has achieved good price control and healthy social inventory development. Zhenjiu dealers have not only generally exceeded their 2023 annual tasks, but are also full of confidence in future market expectations. .

The “Report” believes that the sauce and wine industry has a large amount of capital investment and a long investment cycle, which is not suitable for small and medium-sized capital and short-term capital. This round of industrial adjustment has also allowed some speculative capital and small and medium-sized capital to be quickly cleared. Over the past year or so, Zhenjiu Lidu has landed on the Hong Kong stock market, becoming a landmark event in the industry. Through the empowerment of capital, Zhenjiu can not only continue to occupy an advantage in production capacity and build strong competition barriers, but also achieve breakthroughs in brand building and market expansion, while ensuring the improvement of corporate governance levels and the steady development of the enterprise.

Research institutions said that Maotai wine is expected to overtake strong flavor and become the largest flavor type in 2027. By then, market demand will far exceed supply, and high-quality Maotai wine will still be scarce. In view of the asset-heavy, long-term characteristics of the sauce wine industry and the still strengthening trend of concentration, sauce wine brands with high quality, large output and strong brands will have stable growth potential. Quan Tu said: “Zhenjiu has the opportunity to impact a better industrial position and market position. I believe that in ten years, Zhenjiu is expected to reach a scale of 30 billion to 50 billion, and in the next five years, it will reach 20 billion.”


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