Posted: Jun 16, 2018
The Chinese wine industry recorded a modest turnover in the first quarter of the year but still lags far behind the more popular Baijiu and beer categories, and production continues to decline.
According to the latest data released by ASKCI Consulting, a Chinese research firm, China’s alcohol related production industry generated about RMB 307.3 billion (US$47.89 billion) worth of revenue from January to April this year, a year-on-year increase of 13.76%.
The wine sector’s contribution to the growth is moderate and limited to an increase of 6.35% to RMB 13.1 billion (US$2.04 billion), less than 5% of the overall turnover, which was mainly led by Baijiu. The Chinese national liquor took up more than 66.1% of the total turnover with RMB 203.1 billion (US$31.6 billion), ahead of beer’s RMB 52.9 billion (US$8.24 billion).
Meanwhile, the country’s wine production continues to drop. Currently ranked as the world’s 7th biggest wine producing country, China’s domestic wine production has been declining for five straight years.
The country’s two biggest wine producers are Changyu Pioneers and GreatWall winery, with a combined domestic market share of at least more than 40%.
The imported wine sector is projected to register notable growth in the coming years. By 2020, it’s expected to become the world’s second most valuable wine market, only behind the US, according to Vinexpo.
By Natalie Wang
June 15th, 2018
Source: The Drinksbusiness.com
Go-Wine's mission is to organize food and beverage information and make it universally accessible and beneficial. These are the benefits of sharing your article in Go-Wine.com