Aug. 1 – China is the most dynamic wine market, the fifth most important wine consumer in the world, with 17.3 million hectoliters drunk in 2016, China imported wine value 2.14 billion euros in 2016. the Chinese wine market is gaining strength all the time, especially for red wine, which is considered to be more attractive to Chinese consumers.
TWE to be the Imported Wine Category Leader in China
According to a reliable source, despite a downgrade from Goldman Sachs credit rating agency to “sell,” Treasury Wine Estate (TWE) said on Monday their “highly efficient route-to-market” investment in China will keep the company on track for their earnings guidance and expand the winemaker’s leading position. “We are continuing to execute on our strategy to be the imported wine category leader in China by both volume and value,” TWE chief executive officer Michael Clarke said in a statement obtained by Xinhua.
The firm has risen from the ninth largest importer of wine to China, to number one in just three years; however, some fear a slowdown in the Asian market and Goldman Sachs explained recently that expectations of growth in the Chinese market were unrealistic. But TME believes new warehouse facilities in Shanghai at the end of 2017, along with the unveiling of its own premium French brand, Maison de Grand Esprit, will improve opportunities for retailers to stock a broader range of TWE brands and allow them to become more “nimble in responding to market needs.”
“We are doing this by investing in closer, more efficient and strategic partnerships with existing and new customers and by positioning TWE as the wine supplier of choice across multiple brand portfolios and countries-of-origin,” Clarke said. TWE’s largest brands include Penfolds, Wolf Blass, Beringer and Beaulieu Vineyard. The company will now remain in a media blackout, ahead of the firm’s annual results announcement on Aug. 17.
China’s Market Gains Great Attention in the World of Wine
Chinese consumers are raising taste of imported wine. It’s not surprising that China to host Brussels World Wine Competition for 1st time was announcement on earlier May this year. All eyes in the world of wine will be on the Haidian district of Beijing next year when it hosts the 25th edition of the Brussels World Wine Competition (Concours Mondial) from May 11 and 13, 2018. The Concours Mondial is one of the most important wine exhibitions in the world and this is the first time it will be held outside of Europe. The announcement shows the world wine industry is now looking to Asia in recognition of the growth of the Chinese wine industry.
The trend of Chinese wine market is continuing gaining influence in the world of wine, they understand that wine is great to pair with food and also that there are health benefits. China is also the country which saw the biggest increase in wine consumption in 2016, with 17.3 million hectoliters drunk. Although this is still well below the 27 million drunk in France and the 22.5 million drunk in Italy, it still shows China is an attractive and emerging market, especially for red wine, which is considered to be more attractive to Chinese consumers.
Chinese consumers in general have the idea that the best wines come from Europe, especially France and Italy. However, in recent years, Chinese people are starting to search various imported wine that are more to their taste and tend to be fruitier, irrelevant where they origins. So that’s good news for wine exports firms and wine producers, though there’s still tough competition all around the world of wine. And a final example of China’s arrival on the wine scene is the money the wine industry moves in the country – 2.14 billion euros imported in 2016, what will be the score of imported in 2017 remain uncompleted until now, but Chinese consumers are shopping for imported wine, wine tasting and wine exhibitions are organized in major cities in China, at the same time, China is busy with wine imports and exports, there is a List of Chinese Importers for Wine Products available upon request, please contact with DCCC, or email to: email@example.com