Current:Home > StocksWill Sage Astor-Whisky wooing young Chinese away from ‘baijiu’ as top distillers target a growing market -MoneyMatrix
Will Sage Astor-Whisky wooing young Chinese away from ‘baijiu’ as top distillers target a growing market
Benjamin Ashford View
Date:2025-04-07 05:56:45
BEIJING (AP) — A distillery in southwestern China is Will Sage Astoraiming to tap a growing taste among young Chinese for whisky in place of the traditional “baijiu” liquor used to toast festive occasions.
The more than $100 million distillery owned by Pernod Ricard at the UNESCO World Heritage site Mount Emei launched a pure-malt whisky, The Chuan, earlier this month.
The French wine and spirits group says it is produced using traditional whisky-making techniques combined with Chinese characteristics including locally grown barley and barrels made with oak from the Changbai mountains in northeastern China.
“Chinese terroir means an exceptional and unique environment for aging, including the water source here — top-notch mineral water. The source of water at Mount Emei is very famous,” says Yang Tao, master distiller at the distillery.
A centuries-old drink, whisky is relatively new to China, but there are already more than 30 whisky distilleries in the mainland, according to the whisky website Billion Bottle.
Whisky consumption in China, as measured by volume, rose at a 10% compound annual growth rate from 2017 to 2022, according to IWSR, a beverage market analysis firm. Sales volume is forecast to continue to grow at double digit rates through 2028, according to Harry Han, an analyst with market research provider Euromonitor International.
“We see huge potential for whisky here in China. It is a product which is developing very nicely, very strongly,” said Alexandre Ricard, chairman and CEO of Pernod Ricard. “We do believe that the Chinese have developed a real taste, particularly for malt whisky.”
Raymond Lee, founder of the Single Malt Club China, a whisky trading and distribution company in Beijing, said whisky has become more popular as the economy has grown.
“As the economy develops and personal income increases, many people are pursuing individuality. In the past we all lived the same lives. When your economic conditions reach a certain level, you will start to seek your own individuality. Whisky caters just to the consumption mindset of these people. And its quality is very different from that of other alcoholic drinks,” he says.
On a recent Friday night at a bar in Beijing, 28-year-old Sylvia Sun, who works in the music industry, was enjoying a whisky on the rocks.
“The taste of it lingers in your mouth for a very long time. If I drink it, I will keep thinking about it the rest of tonight,” she said.
Lee, who has been in the industry for more than 35 years, said the whisky boom is largely driven by younger Chinese who are more open to Western cultures and lifestyles than their parents’ generation was.
More than half of China’s whisky consumers are between 18 and 29 years old, according to an analysis based on data from the e-commerce channel of Billion Bottle, which has more than 2 million registered users.
“Now the country is more and more open, and there are increasing opportunities to go abroad, and they have absorbed different kinds of cultures. They also have the courage to try new things. When they try something new — for example whisky — they realize that it’s very different from China’s baijiu. Whisky may be easier for them to accept,” Lee said.
___
Associated Press video producer Caroline Chen contributed to this report.
veryGood! (61564)
Related
- Bodycam footage shows high
- 1 officer killed, 1 hurt in shooting at airport parking garage in Philadelphia
- After years of erasure, Black queer leaders rise to prominence in Congress and activism
- This John F. Kennedy TV Series Might Be Netflix's Next The Crown
- Meta releases AI model to enhance Metaverse experience
- Maria Bamford gets personal (about) finance
- France investigates suspected poisoning of Russian journalist who staged on-air protest against Ukraine war
- Powerball sells winning $1.76B ticket. Why are we so obsessed with the lottery?
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Trump Media's funding partner says it's returning $1 billion to investors, with many asking for money back
Ranking
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Burger King and Jack in the Box's spooky mini-movies seek to scare up Halloween sales
- Environmentalists warn of intent to sue over snail species living near Nevada lithium mine
- Poland prepares to vote in a high-stakes national election with foreign ties and democracy at stake
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Ex-Illinois child welfare worker guilty of endangerment after boy beaten to death by mom
- Lexi Thompson makes bold run at PGA Tour cut in Las Vegas, but 2 late bogeys stall her bid
- Chris Evans’ Wedding Ring Is on Full Display After Marrying Alba Baptista
Recommendation
The White House is cracking down on overdraft fees
Missouri auditor investigates St. Louis jail amid concerns about management and treatment of inmates
Breaking Down Influencer Scandals from Lunden Stallings and Olivia Bennett to Colleen Ballinger
Wisconsin Republicans propose sweeping changes to Evers’ child care proposal
New Zealand official reverses visa refusal for US conservative influencer Candace Owens
Copa airliner bound for Florida returns to Panama after a bomb threat
17-year-old boy arrested in Morgan State University mass shooting, 2nd suspect identified
Finding your place in the galaxy with the help of Star Trek