More China Wine Market News…
‘The world is currently facing the deepest wine shortfall in nearly half a century as demand outstrips supply’ according to Morgan Stanley’s October report into the global wine industry. This is considerably due to China’s ongoing and insatiable thirst for wine – the superpower’s consumption of wine has doubled twice in the last five years, outstripping even U.S. demand. Now China’s love of wine is growing at such a rate that it is expected to become the world’s largest consumer of wine by 2016. To continue to meet this demand, the International Organization of Vine and Wine based in France said that world wine production has recovered from a tricky 2012 harvest and will fortunately hit a seven-year high this year. Perfect timing!
The China Wine & Spirits Awards is the biggest & most prestigious wine & spirits competition in Hong Kong & China. All 100 Judges used at the competition are carefully selected for being the top buyers of wines and spirits for the Chinese market and are importers, distributors, retailers and sommeliers.