china wine industry analysis China is expected to be the world's seventh largest wine consumer by 2013, a study showed Tuesday, as the nation's thirst for vintages continues to grow amid an economic boom.The country will consume around 1.26 billion bottles of wine in 2013, an increase of about 32 percent from 2009, according to findings of Vinexpo, organiser of one of the world's largest wine and spirits exhibitions.China was the eighth largest wine consumer last year, behind leader Italy, France and the United States in the top three spots.
While it may difficult for American wineries to import their product into China, because of all the blue tape and competition, it’s still a market large enough to crack. In fact, there are signs that this is the case.
china market entry Since the reversal of a 80 percent import tax in 2008 in Hong Kong, wine imports saw a record $491 million, 8 percent of which was from America. Last year, American wine imports soared to 138 percent in Hong Kong. For the casual wine drinker to the sommelier to the vineyard owner to exporters, the Chinese wine market should be one to stay aware of as it continues to explode.
china wine market report "Asia, particularly China - including Hong Kong- and India, have become key growth markets for the world's wine and spirits industry," said Robert Beynat, chief executive of Vinexpo Asia-Pacific, which will be held in May 25-27 in Hng Kong.Imported wines only accounted for 11.8 percent of China's consumption in 2008, with
china wine industry report France being the largest overseas supplier. But their market share will climb to about 15.8 percent in 2013, according to Vinexpo.Within Asia, India is expected to be the fastest-growing wine market, with annual consumption projected to double between 2009 and 2013, the study showed. This is followed by Hong Kong, whose demand for wine is expected to surge 72 percent over the next three years.One in three bottles of wine drunk in Hong Kong comes from France, the findings indicated.