Discover China’s never-ending thirst for imported wine and spirits
These days, savvy wine and spirits exporters from around the world are focusing their attention on the Chinese market as a key source of growth.
Whilst not a traditional target market for producers, in recent years the ever-growing demand for imported drinks in both mainland China and Hong Kong has seen the region become one of the world’s top consumers of wine and spirits.
In fact, China is on-course to officially become the world’s second largest wine consumer by 2020 – overtaking more traditional markets like France and the UK – with imports estimated to be worth a staggering $21.7billion.
However, wine consumption is still some way behind the thirst for spirits in the country. China is the world’s biggest consumer of spirits including vodka, whisky and brandies, in a market where imports are thought to be worth $24billion by 2021.
Chinese Market Background
- A fast-growing economy with a population of more than 1.3billion people
- High levels of disposable income amongst upwardly mobile middle classes
- Huge investments in transport infrastructure and import incentives for drinks producers
The Wine Market in China
- Wines of all price points are popular with Chinese buyers
- Bordeaux remains the most popular wine
- Screwcap closures are becoming accepted, although cork is still preferred
The Spirits Market in China
- Brandy is the most popular imported spirit
- Demand for whisky grew by 50% in 2017
- Tequila and Mezcal also have high-growth potential
CWSA – the Seal of Approval in the Chinese Market
- The Biggest and Most Prestigious Wine & Spirits Competition in Hong Kong and China
- Judged by 100 of the top drinks buyers in the region
- Directly responsible for the purchase of more than 90million bottles a year
The booming Chinese wine and spirits market has grown massively in recent years, and with China’s economy growing on average 7-8% each year, it shows no signs of slowing down any time soon.
Sophisticated drinkers in the region are happy to pay premium prices for quality wines and spirits as education and awareness helps drive up the demand for high-end drinks.
So, what are you waiting for? If you haven’t entered the forthcoming CWSA, you’re missing out on a huge growth opportunity and the chance to establish yourself as a preferred brand in a highly lucrative and ever-growing market.