China is going to be 2nd largest consumer of wine by 2020

Apr 24, 2017 1 Comment by

 

Chinese purchasers pulled in by imported wine is not new marvel in China, similarly as rising GDP in China is not new. Chinese people love imported products as they consider these products more reliable and genuine as compared to local products. More Chinese go to bat for quality life, better life, tasteful life, changed eating and drinking propensity actually come to front, taste of wine is one of flavor drink attractions experienced in current China, the utilization of alcohol and lager represents a large portion of the mixed refreshments in China. It has been noticed by several market analysts that Chinese consumers are giving too much attention to foreign wine brands. Several surveys have been conducted by local companies. The findings of their surveys has shocked some local wine brands because it seems that chine will become second biggest importer of wine by the end of year 2020.

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The import of wine increased 44% in 2015 compare to 2014

Insights demonstrated that, China imported 5.54 litters’ wine with an expansion of 44% in 2015, estimation of import achieved USD 20.32 with an expansion of 34% . China wine utilization per capital was around 1.2 litters, (the Chinese aggregate expended 131, 9 million of  instances of red wine) in 2015, representing under 1/3 of the worldwide and in addition 1/10 of the U.S., and China imported wine of $1.77 billion, speaking to a 19.1% yearly increment.

The zero duty will provide the new opportunity for wine market in China

In 2015, the yield volume of China wine industry achieved 1.14 billion litters with a decay of 0.35% YOY. As per Free Trade Agreement amongst China and Chile, China forces zero taxes on Chilean wines, just the 10% utilization charge from Jan. 1, 2015. On Jun. 17, 2015, China consented to the organized commerce arrangement with Australia, which implied that Australian wine would appreciate zero levies in 2019. Zero duty approach specifically empowers the expansion of imported wine. In 2015, China imported 5.54 litters’ wine with an expansion of 44% YOY; estimation of import achieved USD 20.32 with an expansion of 34% YOY. A considerable amount is crude wine, which is sold in little bundles with the split charging of residential endeavors.

The requires of wine in Chinese market keep on increasing

New figures demonstrate that China imported more wine by volume and incentive in 2016, the aggregate estimation of wines entered the Chinese market hopped by right around 30%, as indicated by China Association for Import and Export of Wines and Spirits. There are incredible advancement possibilities for more remote wine import to China. Among others, 2016 record year for Italian wine fares to China, Aussie wine organizations making enormous picks up in China, and furthermore Argentina highlights capability of Chinese market for its wine. These figures are encouraging international brands to launch their products and services in this country.

Further Reading:

 

Chinese Wine Industry, Wine Importers, Wine Marketing in China

About the author

Olivier VEROT, is a Marketing expert for the Chinese Market. He will speak about the Internet trends about wine and about the Marketing best practices.

One Response to “China is going to be 2nd largest consumer of wine by 2020”

  1. le 9 Septembre, c’est la foire des vins sur Internet en Chine | Chroniques de Chine says:

    […] – La consommation de vin importé a augmentée de 37% en 2015 pour atteindre 43,7 millions de caisses (de 9 litres).(via) […]

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