Mar. 23 – China imported wine industry insiders indicate that China’s taste for wine is rising and shifting swiftly which is more a matter of cultural sensation than flavor perceived in the mouth. Changing life style with more money in the pocket, enjoying having a good time, tasting imported wine becomes a fashion just like other imported luxury goods in China; imported wine is popular, growing rapidly in China.
China Wine Market data 2016
Related China wine researchers indicate wine drinkers in China, among others; young people are a very strong driving force in China imported wine market, most young Chinese interested in something new. Pizza has been popular in China; KFC has been plated in China well. Coffee has been one of flavor drinks among young Chinese too. Although wine consuming, for most Chinese it is still an occasional commodity, mainly for holidays. The average is about one bottle a year per person, but the scale of China makes it a huge market, there is no doubt that imported wine no exceptional in China drinking tables.
Chinese customs data shows that in 2016, 638 million litters of wine were imported into China, with a total value of US$2.4 billion-a year-on-year increase of 15% in volume and 16% in value. This growth is expected to continue in the coming years, as popularity for imported wine filters to China’s minor tier cities and wine consumption becomes a more common leisure for most local Chinese. With ongoing changes happening in China wine market, there are opportunities opened up to wine importers in China. There are both side new trends with supply and demand, more importantly; importing wine to China, the distribution channels, and market challenges should draw special attention by key players wine imports and exports business.
China Wine Market Trends 2017
Researchers indicate that red wine have long dominated the China imported wine market, and about 70% to 80% of sales were of red wines, as the Chinese market matured, red wine is often found in banquets to seal partnerships. With data of China wine market and imports and exports, the Chinese consumed 155m nine-litre cases of red wine, compared with 150m cases in France and 141m cases in Italy. Demand for red imported wine in China has grown steadily; researchers indicate that wine consumers in the Asia-Pacific region will be enhancing more than 4bn bottles of different wines a year by 2017.
Demand – there has been a substantial move away from the old-fashioned Chinese key liquor named ‘baijiu’ towards fashionable drink-wine and imported wine gained enormously popularity among the young Chinese. As China wine market matures, importers are beginning to see a shift in demand towards wines from less well-known regions in China. It is predicted trend that average price spent per bottle expected to drop, as wine consumption becomes more common, there will be a shift to higher volume, lower price purchases. Supply – Currently, the imported wine market in China is highly fragmented, with many small importers locally focused within one city. However, industry experts expects that in coming years some smaller importers will join forces to compete on price, to benefit from the economies of scale afforded to larger firms. Price competition and discounting have been highlighted by related research as a key trend expects to see in the coming years.
China Wine Market Value US$21 billion by 2020
The China wine market is expected to grow by an average of 7% each year in 2017-2020, over 6.1 billion litters of wine estimated to be sold in 2020. Each year a growing percentage of the wine sold in China is being imported from abroad; last year this figure passed 10% for the first time, China wine market by 2020, reaching a value of US$21 billion which surpass the UK to become the world’s second largest wine market, according to VINEXPO reporting. There will be a further rising potential for imported wine in China market, wine Chinese importers will play an additional crucial role in importing foreign wine to China.
Import Wine to China
Imported wine is growing in China, along with importing goods to China; there are some key issues for wine imports to China listed:
- The customs clearance process in China can be lengthy;
- Shipments may be left standing in the port for some time;
- Incorrect storage/additional delays in customs clearance may risk impairment of quality.
For those companies who are going to import wine to China, draw attention to regulations regarding labeling and storage: they should be thoroughly checked and all required documentation should be prepared in advance of the shipment’s arrival. In the convenience of wine trading business, for the List of Chinese Importers for Foreign Wine available upon request, please contact with DCCC, or email to: email@example.com