The Chinese Wine and Spirits Market: Opportunities and Challenges | CHASING THE VINE

American wine writer Lauren Mowery has published a concise summary of the Chinese wine market, based on her WSET Diploma studies. It is worth reading in its entirety but the following excerpt should hopefully stimulate people to consider investing more in markets further east.

 

The Chinese Wine and Spirits Market: Opportunities and Challenges | CHASING THE VINE

 

French cognac giant Remy Martin set up the first joint venture winery, Dynasty; Seagram’s assisted in the establishment of Great Wall winery. Many have since followed, including Pernod Ricard and Chateau Lafite-Rothschild, importing vines, equipment, and oenologists along with them.[8] Between 2000 and 2011, registered Chinese vineyards more than doubled from 200,000 hectares to over 500,000 hectares.[9] Recognizing the importance of the Chinese national grain-based spirit baijiu (the highest-selling spirit in the world thanks to China[10]), LVMH and Diageo each acquired baijiu makers such as Wenjun and Shui Jing Fang to diversify their portfolios.[11]

Incredibly, China has become the 5th largest consumer and producer of wine in the world, importing 30.9 million cases in 2013.[12] Nearly one out of five wine bottles opened in China is imported. The country has overtaken France and Italy to become the largest consumer of red wine, drinking nearly 1.9 billion bottles in 2013. The importance of the color red cannot be overemphasized: due to its strong (if superstitious) cultural affiliation with health, happiness, and luck, red wine accounts for 85% of wine purchases.

via The Chinese Wine and Spirits Market: Opportunities and Challenges | CHASING THE VINE.

via The Chinese Wine and Spirits Market: Opportunities and Challenges | CHASING THE VINE.

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