China’s roaring economic growth has given rise to ample disposable income of the people. This has led to a rise in food and beverage consumption and also a change in the consumption habits. As compared to earlier time when only local beverage could be afforded by the people, the rising middle class can now afford alcoholic beverages especially beer from overseas and of foreign brands. According to experts, more people will be able to afford beer by 2017. The legal drinking age population will see more rapid growth than the U.S. by 2017 according to experts.
World’s largest amount of alcohol is served in the U.S. today followed by China. China is ready to overtake the U.S. as the world’s largest beer market in value by 2017.
Last year, the Chinese beer market’s value was 79 percent the size of the U.S.’s in fixed U.S. dollar exchange rate terms. Expert’s forecasts that this figure will rise by 45 percent by 2017, making China the world leader in terms of value sales.
Changing social and cultural factors have also a major role to play in the changing China’s alcoholic beverage market. China’s increasing pub culture is providing more opportunities for people to consume alcohol. It is also observed that the consumption of alcohol especially wine is also increasing leading to further of the China Beer Market. The Chinese budding beer consumers are also open to trying a variety of other alcoholic beverages.
Thus, it is important to tap the China’s Beer market while adapting to the changing regulatory environment. It becomes very essential to also track the ongoing development, consumer tastes and competition for companies eyeing this roaring growth market. Explore newly published and relevant reports on the beer market at http://emarketorg.com/tag/beer/.