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图10、2022年日本高中低度RTD销量比例大致
图10、2022年日本高中低度RTD销量比例大致
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图片大小:88KB
图片尺寸:2221*739
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所属报告:
百润股份-公司研究报告-预调酒基业深耕稳进威士忌新篇破浪启航-250622(32页).pdf
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各地区RTD市场规模(百万美元)
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市场规模
2026-02-24
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Main leadingplayers in China RTD Market,零售量(百万升)
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行业数据
2025-12-23
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图17中国RTD茶饮料市场规模(亿元,2018-2028E)
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市场规模
2025-07-24
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图表92022年日本RTD消费者酒精度偏好与百润产
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行业数据
2025-06-30
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图9、中国RTD相对啤酒的渗透率也较低
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行业数据
2025-06-23
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图8、当前中国RTD的渗透率远低于美日
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行业数据
2025-06-23
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图23、日本RTD企业竞争格局(销量口径)
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竞争格局
2025-06-23
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图24、美国RTD企业竞争格局(销量口径)
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竞争格局
2025-06-23
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国内RTD市场百润股份一家独大(销量口径)
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行业数据
2025-03-06
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中日RTD消费量对比(百万升)
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行业数据
2025-03-06
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预计2026年中国RTD市场超170亿元
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行业数据
2025-03-06
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2018-2023年中国RTD销量CAGR为19%
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行业数据
2025-03-06
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世界各国RTD销量占啤酒的比例
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2025-02-06
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2013-2028E中国RTD咖啡市场规模及增速
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市场规模
2025-02-06
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3. 我国预调酒行业发展空间广阔,高酒精度 RTD 潜在规模空间更大 对比海外,我国预调酒行业市场规模较小、渗透率低,当前供给端持续培育市场,需求端潜力有待挖掘,未来发展空间广阔,龙头百润率先受益行业增长。对比海外市场,中国 RTD 在酒精饮料中的渗透率从 2008 年的 0.1%提升至 2023 年的0.7%,但仍远低于 2023年美国、日本的 8.8%、21.7%;考虑啤酒和 RTD同为低度酒,一定程度上存在互相替代性,中国 RTD相对啤酒的渗透率从 2008年的0.1%提升至 2023年的 0.8%,低于 2023年美国、日本的 12.1%、36.7%。参考较为成熟的日本市场来看,2022年高中低度 RTD销量占比约为 5:3:2,且 2010-2022年销量 CAGR分别为 14.3%、4.7%、0.3%。未来需求多元化、供给持续培育共振,我国 RTD行业渗透率仍有较大提升空间,且高酒精度 RTD潜在规模空间更大,百润作为行业龙头,未来有望率先受益于行业扩容。
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百润股份-公司研究报告-预调酒基业深耕稳进威士忌新篇破浪启航-250622(32页).pdf
表6、可比公司估值一览(估值日期为2025年6月20日)
表5、百润股份2025-2027年盈利预测拆分
表4、百利得、崃州品牌旗下的流通产品陆续上市
表3、百润预调酒及烈酒产能规划一览
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