China: the End of the El Dorado for Foreign Wineries?
The market in China has changed with the Crisis, but has a promising future with double of sale in 2026 according to global data.
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The Chinese wine market will reach RMB 462.4 billion (US$72.2 billion) in 2026
Global data firm predict a +11.5%, growth YtY with the rebound of the Chinese economy (and social activities) . Famous brands are taking over the market and “internet” consumption is taking over the traditional sales.
The drop in local consumption is disappointing worldwide Wine producers. But wine remains a luxury product and the most prestigious appellations are doing well
All Brands have a good business in China, consumers prefer to buy Brands they know when matter to wine.
The period is complicated for small unknow producer on the Chinese market.
A number of wine merchants, from France and other countries, became disillusioned. Consumption has changed and wine firms has to adapt.
After fifteen years of growth, wine imports into China have fallen from 750 million liters in 2017 to 400 million today. Production in the country also almost halved during the same period, from 1.1 billion to 600 million.
We are there because wine consumption in China is falling sharply, going from 1.9 billion liters to 1 billion in five years. The year 2022 did not allow the trend to be reversed.
The Chinese young generation (China’s millennials and Gen Z) has a “considerable purchasing power” . They are the future of the wine industry explains Olivier Verot , Gentlemen Marketing industry.
According to wine merchand, young Chinese are reshaping China’s multi-billion wine market, as they become the main consummers explains seoagencyChina. The drinking power of the Young Chinese will make the wine market almost doubling in size in 2026
What want Chinese young generation ?
- Cool Brand, with nice packaging
- Famous brands
- Story of the wine on social media and video side
- E-Commerce distribution
Wine in China in 2023
Prowine the trade fair for Wine will attend in 2023, hope most wine traditional producer.
In 2018, Vinexpo, which has since become Vinexposium, predicted that “over the next five years, China will become the second largest wine market by value
. The country, which occupied fifth position in 2019, has, on the contrary, fallen to seventh place.
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