What are the trends of wines worldwide that are imported in China everyday?
Bellow discover China market and its role as a relevant player in the international wine industry, both as supplier and consumer
In china the majority of the population mention red wine and instantly associate it with the “Western style,” and some with “luxury”.
The Chinese wine market is one of the most complex market and also unpredictable. Nevertheless the current personal consumption and business consumption are leading wine market in China, dominating the market of domestic wine consumption with 79% of market shares in volumes.
BUT WHAT ARE THE TRENDS FOR 2018? SEE BELLOW
Chinese wine consumption is growing
According to a study performed by ICEX Guangzhou recently, we discover that sales are lead by red wine with nearly 68%, with a pretty big difference we find white wine with 26% and last but not least the sparkling with 6%.
The International Wine and Spirit Research Institute (IWSR) envision that the consumption of Chinese red wine will further increase by 24.8% from 2014 to 2028, with an average annual increase of around 6%.
Middleclass – main force of red wine consumption
The global individual wine consumption of red wine is around 4.5bottles.
To compare the opposites now: In France (of course right!?) the highest individual consumption of red wine the average of 57 bottles of wine and in China the lowest individual consumption of red wine with nearly 2 bottles.
Compared with the declining consumption of liquor, the consumption of red wine rises. The concept of healthy drinking has motivated more and more young people to choose red wine.
Nowadays, ordinary consumers drinking red wine at home. It has become an important trend in the Chinese red wine consumer market. The potential population of Chinese red wine consumption is expected to exceed 600 million in the future.
Overseas estates and vineyards
In the last years many domestic large-scale and not only – wine groups started to turn their attention to overseas estates and vineyards. This acction is a move forward for incresing wine imports in the following years. Now the price of red wines in overseas countries is getting lower, a fact which leads to a considerable reduction in the prices of imported wines
In addition, wine consumers currently do not have too much brand loyalty, that is, as long as he finds imported wines that suit his taste, he may be able to move from the original brand to a new brand. So even for the consumer groups of famous domestic wines such as Changyu, and the Great Wall, as long as they find out their own favorable red wine, they will also transfer their consumption. Therefore, imported red wine is easy to attract the attention of consumers because of its huge cost-performance advantage.
Imported wine tasting becomes a part of party culture
Red wine tasting is not only a daily eating habit, but will gradually evolve into a manifestation of party culture. Therefore, we can also think that the development of the Chinese beverage market will gradually emphasize the cultural and social functions of red wine.
The most important thing for consumers to socialize while drinking red, is their own understanding of red wine. All red wine sommeliers and connoisseurs come from consumers. Therefore, domestic wine market has not been opened yet. There is vast space in the market. Therefore, wine merchants should focus on improving consumers’ knowlege about wines, so that they understand how to taste wine, so as to enhance everyone’s appreciation of wines.
To E-commerce or not to E-commerce?
Nowadays we want things and we want them now. But what can you do when you live in China and love Italian wines? Simple – order them online!
According to a 2015 study by Wine Intelligence – the opportunities to purchase online wine in China are very significant. Almost half of the China imported wine drinkers have already bought wine from the internet.
They prefer this online shopping due to the wide range of wines, transparency, lower prices etc
The E-commerce sector in China has a great variety of specialized alcohol platforms. They develop really fast due to the market demand.
In conclusion, red wine is the top of the chinese market preferences. Demands in this sector continue to grow and investors are becoming more and more focused on bringing quality wines; to meet the needs of the market