The sheer purchasing power of China’s new wealthy has transformed the world wine market forever. ‘As the demand for wines becomes greater from this new market, naturally the prices will rise,’said filmmaker Warwick Ross, who’s documentary “Red Obsession” recently debuted in North America at the 2013 Tribeca Film Festival to positive reviews. ‘The Chinese market has really woken up to fine wines,’ said Joe Marchant, director of Bordeaux Index US. Quality is a vital focus at any price point by the enthusiastic developing market. The Chinese, who are driving prices up through sheer buying power, are either drinking the wines, presenting them as gifts, or serving them to guests to show the esteem in which they are held. Looking ahead, there’s widening out of the wine market in China, and an increased interest in smaller chateaus in old and new world wines. ‘Certainly the market is still huge and full of potential’ revealed Jane Anson, Bordeaux correspondent and expert. So, the message to winemakers is to get your most premium quality wines in front of the distributor, importer and Somelier Judges.
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