With sales of wine in China reaching USD$41 billion in 2012, up 22% from a year earlier, according to research firm Euromonitor International, USA winemakers are determined to get a slice of the action. Sacramento-based Family Winemakers of California and Stonebridge Research Group have been awarded a U.S. Department of Agriculture grant to develop plans to market and sell California fine wines in China. The $369,292 Emerging Market Program grant will help fund a three-year undertaking. ‘On behalf of California producers that haven’t yet found a foothold in the growing Chinese market, we’re delighted USDA saw merit in our proposal to focus on sales approaches for fine wines in our key target market – China,’ said Paul Kronenberg. Their goal is to develop in the crucial “mid-tier” market for the massive growing middle class of consumers – with wines that retail from USD $40 to $200 per bottle in China. The present reining wine and spirit producing giants selling in China, include France, Spain, Australia, New Zealand, South Africa and Argentina – who are now reaping significant sales benefits of their early fast action to conquer the Chinese market.
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More China Wine Market News… “For more than two years, China has been the top market by value for cognac and, when you think about the growth of the Chinese economy, that opens up some […]