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While China remains a key market for high-end international spirits – especially Cognac – the country’s luxury market leadership could soon be threatened by the US, according to new data from international drinks market analysis IWSR.

Baijiu retains a dominant 84% value share of the global status spirits market – covering products with a weighted average price above US$100 – but consumption remains almost completely confined to China.   Excluding baijiu, the global market for international status spirits grew by 35% in value terms during 2021, according to IWSR figures, leaving it 8% ahead of pre-pandemic 2019.   Value expanded at a compound annual growth rate (CAGR) of +9% between 2016 and 2021.

International status spirits remain largely reliant on three markets – China, the US and travel retail – which together accounted for 65% of global value in 2021.   Smaller key status spirits markets include Japan, Taiwan, the UK, Russia and France, which all grew in value in 2021 as well.

China is the biggest market for international status spirits (excluding baijiu), with a global value share of just over 30%.   Cognac dominates sales, but there is a long-term consumption shift in favour of malt Scotch.

China’s economic troubles are likely to limit status spirits growth over the next five years, and its leading position could come under threat from the US.   If the rumoured alcohol ban for CCP members and civil servants goes ahead, that too will limit the category’s growth.