Companiesandmarkets.com

Chinese wine market set to peak in 2016

Press Release   •   Jun 17, 2013 10:04 BST

Growth within the Chinese wine market is set to remain steady to 2017, ultimately reaching a value of approximately $24 billion by 2017. Year on year growth is set to peak in 2016, at 6.55%.

China is among the top ten global markets for wine consumption. The market has traditionally been dominated by beer, but beginning in the 1980s, connections have been made to the international wine market, specifically to France, and the taste ofChinese drinkers has begun to change. Over the next few decades, the country's standing as a wine consumer is expected to rise.

Still Wine will be the dominant driver of market growth, with a compound annual growth rate (CAGR) of 6.54% over the next five years, taking the category value to US$1,525.5 million by the end of 2017.

As of 2012, a small number of large companies, such as Changyu Pioneer Wine, China Great Wall Wine Co., Ltd. and the Dynasty Wine Ltd., dominate domestic production. Notable wine-producing regions include Beijing, Yantai, Zhangjiakou in Hebei, Yibin in Sichuan, Tonghua in Jilin, Taiyuan in Shanxi, and Ningxia. The largest producing region is Yantai-Penglai; with over 140 wineries, it produces 40% of China's wine.

Most medium to large restaurants, regardless of the fare, sell wine by the bottle, usually only red. Generally, only high-end restaurants serve wine by the glass. Wine sold by the bottle is also available at large KTV establishments, and major hotels.

Since around 2008, many small convenience stores have begun to carry a small selection of wines, with specialty wine shops emerging in cities throughout the country. These specialise in both foreign and domestic brands. Meanwhile, major supermarkets have steadily increased their selection, from several domestic brands, to a wide variety of wines from around the world.

For more information on the Chinese wine market, see the latest research: Chinese Wine Market

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