啤酒行業(yè)發(fā)展趨勢報告1啤酒行業(yè)現(xiàn)狀及競爭格局21啤酒行業(yè)現(xiàn)狀及競爭格局2201320142015201620172018201920202021189720%0%4.0%7.2%6.8% 0.6%-3.4%-3.7% 201320142015201620172018201920202021189720%0%4.0%7.2%6.8% 0.6%-3.4%-3.7% -20%同比增速36.3%22002000800600400市場規(guī)模(億元)2013-2021年中國啤酒市場規(guī)模情況2013201420152016201720182019202020212010201120122013201420152016201720182019202053944977474345425000443720%3000200000%0.8%0.8%0.8%40353020%2013201420152016201720182019202020212010201120122013201420152016201720182019202053944977474345425000443720%3000200000%0.8%0.8%0.8%40353020%202.8%0%-2.2%-5.2%-4.6%0600037663796382638574000-7.7%-4.7%-4.2%-2.3%-10%-15.1%-20%消費(fèi)量(萬千升)同比增速333636.237.236.434.532.932.827.627.19.1%24.6250.6%-0.3%-9.-0%5-20%人均消費(fèi)量(升)同比增速4380433046%6%7%9%20%10%0%39746.8%363432757.3%3.4% 201720182019380433046%6%7%9%20%10%0%39746.8%363432757.3%3.4% 20172018201920202021-20%470305%4%-5%華潤啤酒燕京啤酒青島啤酒重慶啤酒百威亞太0372156000500040003000200025%49513110啤酒均價(元/噸)同比增速450040003500300025002000500351422.4%啤酒均價(元/噸)同比增速24.4%75.6%16.8%83.2%12.2%87.8%7.1%92.9%燕京啤酒,10.2%青24.4%75.6%16.8%83.2%12.2%87.8%7.1%92.9%燕京啤酒,10.2%青島啤酒,22.3%8.0%92.0%20172018201920202021CR5其他嘉士伯,7.8%華潤啤酒,31.0%百威亞太,21.6%啤酒行業(yè)集中度高且持續(xù)上升布局區(qū)域7華潤啤酒東部區(qū)域(50%)百威亞太中韓越等亞太區(qū)域9青島啤酒山東區(qū)域(67%)燕京啤酒華北區(qū)域(50%)362重慶啤酒中部區(qū)域(41%)279珠江啤酒華南區(qū)域(95%)惠泉啤酒福建(75%)21蘭州黃河甘肅、青海(75%)9布局區(qū)域7華潤啤酒東部區(qū)域(50%)百威亞太中韓越等亞太區(qū)域9青島啤酒山東區(qū)域(67%)燕京啤酒華北區(qū)域(50%)362重慶啤酒中部區(qū)域(41%)279珠江啤酒華南區(qū)域(95%)惠泉啤酒福建(75%)21蘭州黃河甘肅、青海(75%)9山 2021年啤酒銷量2021年啤酒銷量 千升)1啤酒行業(yè)現(xiàn)狀及競爭格局2啤酒行業(yè)代表企業(yè)1啤酒行業(yè)現(xiàn)狀及競爭格局2啤酒行業(yè)代表企業(yè)3643223443023382803253635啤酒代表企業(yè)營業(yè)收入情況(億元)32527820183643223443023382803253635啤酒代表企業(yè)營業(yè)收入情況(億元)3252782018201920202021202220182019202020212022啤酒代表企業(yè)凈利潤情況(億元)4613114032啤酒行業(yè)營收及利潤整體保持增長266華潤啤酒青島啤酒重慶啤酒43372274華潤啤酒青島啤酒重慶啤酒9華潤啤酒各區(qū)域營收占比中部,華潤啤酒各區(qū)域營收占比中部,25%華潤啤酒渠道優(yōu)勢明顯東區(qū),48%南區(qū),26%貴州安徽遼寧江蘇吉林黑龍江青海貴州安徽遼寧江蘇吉林黑龍江青海天津浙江華潤79%、青島8%華潤67%、青島16%華潤54%、青島38%華潤52%、百威亞太39%華潤49%、百威亞太46%華潤49%、黃河41%華潤46%、青島24%華潤31%、百威亞太31%青島39%、華潤32%嘉士伯70%、華潤30%青島55%、華潤30%青島43%、華潤28%百威亞太58%、華潤28%青島29%、華潤25%燕京25%、華潤23%青島80%、華潤20%青島71%、華潤20%甘肅西藏河北湖北廣東湖南陜西上海華潤啤酒市占率第一及第二地區(qū)Top2企業(yè)市占率據(jù)或與實際情況略有出入華潤啤酒渠道優(yōu)勢明顯2218.9%16.9%13.2%11.5%及以上啤酒銷量占比020192218.9%16.9%13.2%11.5%及以上啤酒銷量占比020192020202120220%華潤啤酒青島啤酒重慶啤酒收入占比代表品牌收入占比代表品牌收入占比代表品牌高端及超高端 花純生、喜力經(jīng)典、臉譜青島原漿、琥珀拉格主流型 勇闖天涯青島純生醇麥經(jīng)濟(jì)型 花金標(biāo)、雪花銀標(biāo)湖500050005030%210次高端以上銷量(萬千升)占總銷量比重化情況同比增長指標(biāo)2021年2022年總銷量(萬千升)4333607444363嶗山類其他品牌化情況同比增長指標(biāo)2021年2022年總銷量(萬千升)4333607444363嶗山類其他品牌8%2.6%0.8%均價(元/噸)5.0%5.0%29339282793742嶗山類其他品牌5.5%3.2%4584274448362832公司以“青島啤酒為主品牌+嶗山啤酒為第二品牌”布局青島啤酒產(chǎn)品布局高端市場趨勢明顯13.05%36.71%36.85%8.38%4.78%20182019202020212022 13.05%36.71%36.85%8.38%4.78%20182019202020212022 13.58%況18.32%18.24%17.96%10.79%11.83%2018201920202021202237.70%38.96%40.42%青島啤酒控費(fèi)增強(qiáng)帶動盈利提升高端化帶動營收提高，控費(fèi)能力持續(xù)增強(qiáng)帶動盈利能力提升。2022年公司銷售費(fèi)用率、管理費(fèi)用率、財務(wù)費(fèi)用率分別為55.71%5.22%銷售費(fèi)用率管理費(fèi)用率財務(wù)費(fèi)用率5.87%65.87%毛利率凈利率2792869494363520182019202020212022營業(yè)收入(億元)2792869494363520182019202020212022營業(yè)收入(億元)銷量(萬千升)242300250200500重慶啤酒營業(yè)收入及銷量情況重慶啤酒資產(chǎn)重組后營收及銷量翻倍， 38.40%36.71%13.35%10.79%8.38%18.29%18.43%11.94%11.83%38.40%36.71%13.35%10.79%8.38%18.29%18.43%11.94%11.83%2018201920202021202216.02%2018201920202021202250.61%50.94%50.48%重慶啤酒盈利能力處于行業(yè)領(lǐng)先地位41.69%39.93%41.69%39.93%38.46%36.85%38.46%36.85%38.96%36.84%華潤啤酒青島啤酒重慶啤酒20.34%6.45%5.87%36.45%5.87%3.03%3.88%華潤啤酒青島啤酒重慶啤酒3啤酒行業(yè)發(fā)展趨勢20002001200220032004200520062007200820092010201122000200120022003200420052006200720082009201020112012201320142015201620172018201920202021000030%20%10%0%-10%-20%1990-2021年中國啤酒產(chǎn)量情況啤酒產(chǎn)量(萬千升)同比增速-右軸(%)18供需兩端驅(qū)動行業(yè)高端化發(fā)展存量競爭階段50004000300020004983 3562 33.223.072.822.452.412.3812.2072.162.122.0259325.962.6033.69中國人均GDP、可支配收入及消費(fèi)支出情況(萬元)201333.223.072.822.452.412.3812.2072.162.122.0259325.962.6033.69中國人均GDP、可支配收入及消費(fèi)支出情況(萬元)2013201420152016201720182019202020212022供需兩端驅(qū)動行業(yè)高端化發(fā)展居民人均消費(fèi)支出8.578.148.578.14人均GDP:現(xiàn)價7.187.7.186.555.384.994.694.35 價格不太關(guān)心，只關(guān)心好不好喝<50元/12罐 50-79元/12罐 8價格不太關(guān)心，只關(guān)心好不好喝<50元/12罐 50-79元/12罐 80-99元/12罐100-149元/12罐>150元/12罐33.5%21.0%20.4%13.0%9.1%麥芽汁濃度 酒精度數(shù) 釀造原料品牌知名度釀造工藝性價比泡沫豐富度 38.4% 31.3% 29.4% 28.1% 27.3% 27.0% 26.5% 25.8% 24.8% 22.7% 3.0%20供需兩端驅(qū)動行業(yè)高端化發(fā)展201924.6%28.3%47.1%27.3%30.8%41.8%30.5%30.4%39.1%32.7%30.7%36.6%34.0%31.3%34.6%34.8%32.3%33.0%3201924.6%28.3%47.1%27.3%30.8%41.8%30.5%30.4%39.1%32.7%30.7%36.6%34.0%31.3%34.