Preface:
Before the National Day holiday just passed, data released by the Luliang Municipal Bureau of Statistics showed that from January to August 2022, the industrial added value above the designated size of Luliang City, Shanxi Province increased by 9.9% year-on-year, of which the manufacturing industry of wine increased by 36.4%. On the product , the production of liquor reached 133,000 kiloliters, an increase of 14%.
Luliang As the main production area of refreshing-flavored liquor in my country, its data reflects the current popularity of scenting liquor to a large extent.
Data disclosed by the China Wine Industry Association shows that at present, the annual market size of fresh fragrance liquor is about 75 billion yuan. Judging from the transaction volume of various types of fragrant liquors, in the first quarter of this year, the proportion of fresh fragrance liquor in the total market was 17%, which jumped from 10% in 2016 to nearly 7 percentage points. It can be seen that the market share of fresh fragrance liquors is gradually expanding.
Author: Wu Yue
01
Rapidly progressing fragrance wine
"The rise of a sub-sized fragrance type must have a leading company to pull it." said Jin Yufeng, an analyst in the liquor industry and managing partner of Zhongyuan Fund Da Consumer.
In recent years, Fenjiu Group , as the big brother of the fragrance category, has been booming, driving the recovery of fragrance-type liquor. In 2021, Shanxi Fenjiu achieved revenue of 19.97 billion yuan, with a performance growth rate of up to 40%; net profit growth rate exceeded 70% year-on-year, far exceeding the industry average growth rate. market value steadily entered the top three in the wine industry; 's performance in the first half of 2022 also hit a new high, successfully surpassed Luzhou Laojiao to advance to the fourth place in industry sales, and " Fenjiu speed" once again amazed the wine industry.
The national layout of Shanxi Fenjiu, the vigorous marketing of Qinghua Fenjiu, and the market cultivation of low-end products have enabled the Qingxiang liquor category to quickly gain a foothold in the market. The development of fresh fragrance wine has a trend of turning to "brand craze" into "category craze".
This year, many fresh fragrance wine companies have also improved their product structure and accelerated their national layout.
Fenyangwang , Hongxing and Niulanshan's fragrance market area continues to expand, Jiang Xiaobai 's performance is growing straight, and the performance of fresh fragrance liquor companies such as Huanghelou and Baofeng have doubled in the past two years, showing a comprehensive and positive development trend.
Among them, after continuing the "Nanpai Daqingxiang 30", this year Huanghelou released the "Nanpai Daqingxiang 20", constantly adjusting the high-end structure and further improving the Huanghelou wine fragrance product matrix;
Baofeng Wine Industry , as the Henan wine brand, has a revenue growth rate of more than 80% in the first half of this year, and the sales of the National Color Fragrance Series accounted for With 60% of the total products, Jinbiao Baofeng Daqu has also made expansion breakthroughs in Henan, Shandong and Hunan Provinces, gradually realizing the nationalization process;
"Guangping Fenxing" also in Luliang, the manufacturer's self-operated strategic product sales in the first three quarters of 2022 increased by 211% compared with the same period, achieving accelerated growth for two consecutive years, and in just one year, the number of customers increased by nearly 200, totaling nearly 500.
Shanxi Fenjiu is using brand influence to drive Qingxiang wine companies to the whole country, and the market trend of "category hot" is gradually becoming clear.
02
Can Fenjiu carry the banner of fragrance?
The "sauce flavor hot" since 2016 is because of the leadership of Moutai liquor . Because of the continued rise in retail prices of Moutai and the difficulty in finding a bottle of affordable Moutai, the opportunity to "small replacement for Moutai" emerged, and foreign capital has poured in, which has spawned a "sauce-water wine heat wave". Whether the fragrance of
can be copied from the previous years of sauce-flavored hot, let’s first see if the revival of Fenjiu can lead to the recovery of fragrance.
In the first quarter of 2022, Shanxi Fenjiu achieved revenue of 10.53 billion yuan, an increase of 43.62% year-on-year, and net profit attributable to 3.71 billion yuan, an increase of 70.03% year-on-year; however, achieved revenue of 4.803 billion yuan in the second quarter, an increase of only 0.35% year-on-year, and net profit of 1.303 billion yuan, a decrease of 4.33% year-on-year.'s growth rate suddenly stagnated in the second quarter, quickly arousing discussion in the industry.
From the current perspective, Fenjiu's largest single product should be the light bottle wine glass Fen, focusing on the development of the sub-high-end blue and white series to increase the potential energy of the product. At the same time, in the past two years, the high-end blue and white 30 revival version and the super high-end blue and white 40 Chinese dragon have been launched. Fenjiu is ambitious at the high-end, but it is far away to fight with the two strong men of Wuliangye and Guojiao 1573, and it is even more difficult to reach Moutai's current height. Therefore, although Fenjiu has achieved accelerated running in recent years, it is a long way to go to restart the past glorious and fragrant road.
At present, although Fenjiu has created a "brand fever", it will take time to polish the potential energy of the fragrance industry to achieve product fever. Whether wine merchants and consumers are willing to pay for the fragrance of re-entering the track has also become a major question in the industry.
03
Fragrance relay sauce fragrance, it depends on the "Fragrance Man"!
While the trend of fresh fragrance wine is gradually emerging, some fresh fragrance wine companies have also had unsatisfactory performance in 2022.
In recent years, Gujing Gongjiu has used the Yellow Crane Tower series as a breakthrough point, and took advantage of the warming of the fragrance to break the performance growth barriers of Gujing Gongjiu. In the 2021 interim report, the Huanghelou series achieved revenue of 581 million yuan, a year-on-year increase of 319.6%; when looking at the 2022 interim report, the Huanghelou series achieved revenue of 630 million yuan, a year-on-year increase of only 8.53%.
Look at it again, Niulanshan's revenue data in the past two years is not optimistic. Shunxin Agricultural , which mainly operates in 2020-2022, fell from 6.466 to 4.91 billion yuan, and its performance did not increase but fell.
It is difficult to drive the fragrance craze just by relying on Fenjiu. The hot trend of sauce-flavor is so rapid because under Moutai, there are also 10 billion leaders represented by Xijiu , Langjiu , and Guotai; but except for Fenjiu, the leader of the Qingxiang team, there are only Niulanshan, Hongxing, Laobaigan , Huanghelou, and Jiang Xiaobai, and the rest are real estate wines represented by Fenyang King. The second camp is not strong, while the third camp represented by small and medium-sized enterprises is relatively weak, and the overall industrial structure must be improved through time.
market trends, the "sauce wine fever" has gradually subsided, and the "refreshing potential energy" has begun to appear. This is an important opportunity for the fresh-scented liquor to seek incremental growth in the future. But how can Qingxiang Hot maintain a good popularity in the market for a long time? How to avoid repeating the mistake of overcapacity caused by the surge in sauce wine after the rise of sauce wine ? This is the future market trend that Qingxiang team will face next. Whether the fragrance can relay the sauce and wine heat is all in the hands of the "scented fragrance people".
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