It’s official, China has seen the world’s fastest growth in wine consumption and will continue to do so, according to IWSR (International Wine and Spirit Research). There was a leap of a massive 142 percent from 2007-2011, reaching more than 1.91 billion bottles. The study forecasts that Chinese wine consumption will increase by an additional 39 percent – 858 million bottles – between 2012-2016. Compared to overall worldwide wine consumption with a mere 2.8 percent from 2007-2011, it is clear to see why producers are keen to gain market share and sales in China at this key time. The findings show the Chinese market is presently monopolized by still wines, although predicts China’s sparkling consumption will increase by 27 percent between 2012-2016. This once in a life time opportunity for wine and spirits producers and exporters has changed the international game and is at the right time as European sales continue to slow. Meanwhile, millions of middle class, and newly wealthy drinkers in Hong Kong and China are keen to explore new products to purchase as gifts, for consumption in bars, restaurants and at home.
As we draw closer to the end of the year it is the ideal moment to reflect on how the marketing landscape is changing and how businesses can start preparing for a prosperous 2019. China […]
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