Revenue of major listed baijiu companies China 2023, by company

In 2023, Kweichow Moutai, one of the most famous baijiu manufacturers in China, recorded a revenue of about 148 billion yuan. Wuliangye Yibin followed with a sales revenue of 83.27 billion yuan. The eight largest baijiu manufacturers accounted for over 90 percent of the total revenue of 20 major listed baijiu companies in China.

Collector’s favorite

After antiques, watches, and art, high-end baijiu has become an increasingly popular investment amongst wealthy collectors. Chinese billionaires are willing to spend more than ten million yuan on a bottle of vintaged Moutai in the auction house, and the craze has spread to ordinary consumers as well. When Costco opened its first store in Shanghai, consumers snapped up over five tons of Moutai, costing over 200 dollars a bottle, in a few hours. Meanwhile, more than 31,000 bottles of Moutai were sold on China’s leading e-commerce platforms each month.

Aged baijiu in China

The traditional distilled liquor has dominated China’s spirits market for decades and is considered one of the best gift options in business and official occasions. Nearly eight out of ten Chinese high net-worth individuals spend more than 10,000 yuan on baijiu each year, and aged baijiu became their new favorite. Over 90 percent of affluent consumers believed that aged baijiu tastes better and have better quality than younger baijiu.