CHINESE WINE MARKET OVERVIEW
According to China Wine Competition, „The wine consumption in China is expected to rise by over one third to $23 billion throughout the following five years when it will reach a volume of 192 million cases.“
Chinese wine market is booming in recent years, especially import segment. It is estimated that around 40 % of China’s wine is being imported providing global distributors and wineries with significant opportunity.
Due to China’s living standard improvement and higher purchasing power in recent years, wine market is rather oriented towards luxury and higher-quality wines.
Wine market is maturing and Chinese consumers place high emphasis on overall image of the wine, which is a great opportunity for new foreign providers to enter the market with strong sales and marketing strategy.