CHINA WINE MARKET
INTRODUCTION
Wine is an alcoholic beverage made from fermented grapes or other fruits. Grapes are the most common fruit used in winemaking due to their naturally occurring balance of sugars, acids, and tannins. The specific type of grape, the climate, and the winemaking techniques employed contribute to the wide variety of wines available. There are several categories of wine, including red, white, rosé, and sparkling, each with its unique flavor profile and characteristics.
Chinese consumers are big fans of imported wines, particularly those from traditional wine-producing nations like France, Italy, and Spain.
There is a discernible shift in consumer preferences in favour of red wine, which traditional Chinese medicine frequently links to health benefits. Demand for wine tourism and education is rising along with the popularity of wine.
CHINA WINE MARKET SIZE AND FORECAST
The China wine market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
CHINA WINE MARKET ANALYSIS
Chinese consumers are moving away from traditional spirits like baijiu and towards wine as a popular alcoholic beverage. Numerous factors can be blamed for this shift in preferences.
First of all, a lot of people believe that wine is a healthier option than other alcoholic beverages because of its possible health advantages. Furthermore, wine appeals to China’s expanding middle class since it is regarded as a status and sophistication symbol.
Demand for both domestic and imported wines has therefore increased. In addition, urbanisation and the middle class’s growth have fueled the China wine market’s expansion because urban consumers are more exposed to global trends and have easier access to imported wines.
There are still difficulties in the market despite the growth. These include problems with fake wine, shifting import laws, and the requirement for improved wine distribution systems in some areas.
The China Wine market is dominated by imported wines, but interest in homegrown wine production is rising. Customers are becoming more receptive to sampling wines made in China, and some Chinese wineries are becoming known for their high calibre products.
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RECENT PARTNERSHIP IN CHINA WINE MARKET
Summergate and Barefoot Wines team up to introduce the winery in China. They predict that more consumers will enter the China wine market in the coming years, and that the variety of drinking occasions will increase as wine culture gains traction in China.
They are incredibly proud to be working together with the well-known and popular wine brand Barefoot of E. & J. Gallo Winery to introduce a fun, colourful, easy-to-drink wine to China.
Along with Summergate, four other varieties—Moscato, Chardonnay, Merlot, and Cabernet Sauvignon—will be introduced to the Chinese market.
RECENT DEVELOPMENT
Treasury Wine Estates introduced its inaugural China-sourced wine to the esteemed Penfolds Collection. A major element of the company’s long-term strategy, which was centred on premium and luxury wine and its multi-regional sourcing model, was its continued commitment to China.
Penfolds is still recognised as a symbol of excellence, luxury, and innovation by customers all over the world. Penfolds’ sustained expansion solidifies its standing as a worldwide symbol of luxury, surpassing the wine market and establishing a connection with the ‘new luxurian’ customer who enjoys the best wines on the planet along with novel and imaginative experiences.
Penfolds announced the launch of “Penfolds Evermore,” a community and sustainability initiative, further demonstrating the company’s dedication to the areas in which it produces wine.
CHINA WINE MARKET’S RECENT TRENDS
Increasing online wine consumers: With a 50% market share, Tmall led China’s online wine sales, while JD.com came in second with almost 25% of the total. Due to these companies’ vast consumer reach and sophisticated infrastructure, numerous brands have chosen to form alliances with them.
Leveraging new media platforms : Many brands have realised how important it is to interact with younger consumers on new media platforms such as Douyin in recent times. Industry insiders have criticised wine sales in Douyin live streaming rooms, nevertheless.
Rising demand for quality : Over the past ten years, Chinese wine consumers have changed their drinking habits, becoming more inquisitive and knowledgeable about wine. The rise of the middle class and the growing adoption of increasingly westernised lifestyles are to blame for this. Because of this, more buyers are prepared to pay for premium, mid-range wine bottles.
COMPETITIVE LANDSCAPE
Grace Vineyard is unique in its design and situated in a rich natural setting ideal for the production of wine grapes. It planted 67 hectares of vineyards in Qingtongxia of Ningxia in 2011, adding to their 80 hectares of vines planted in 1998 in Shanxi’s Taigu Plateau. China has a total area of 855,000 hectares planted under vines.
The Silver Heights Vineyard is situated in Ningxia’s Helan Mountains, which are at the same latitude as the well-known wine regions of Bordeaux, France, and Napa Valley, California. At 1200 metres above sea level, Silver Heights holds the distinction of being one of China’s highest wineries.
The Helan Qingxue Vineyard grows 16 wine grape varieties which have been introduced from France, and with a land area of around 13 hectares and over 1,000 square metres of underground cellar space, it marks a yearly production of 50,000 bottles of wine.
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- How much wine is manufactured in China? Who are the sub-component suppliers in different regions?
- Cost breakup of a China wine Market and key vendor selection criteria
- Where is the wine manufactured? What is the average margin per unit?
- Market share of China wine manufacturers and their upcoming products
- Cost advantage for OEMs who manufacture wine in-house in China
- key predictions for next 5 years in China wine market
- Average B-2-B wine market price in all segments
- Latest trends in China wine market, by every market segment
- The market size (both volume and value) of the China wine market in 2024-2030 and every year in between?
- Production breakup of wine market, by suppliers and their OEM relationship
