Top Five Trends of Chinese Imported Wine Market in 2018 !
Once, Red wine is a symbol of social status and luxury goods in China. Many people mention red wine and associate it with terms such as “Western style,” and “luxury. Nowadays, personal consumption and business consumption are leading wine market in China.,dominating the market of domestic wine consumption.
NOW, LET’S TAKE A LOOK AT TOP FIVE TRENDS OF CHINESE WINE MARKET IN 2018.
Chinese wine consumption has a huge room for growth
From a global perspective, China’s consumption of spirits accounts for 40% of global consumption of spirits, but consumption of red wine only accounts for 7% of global consumption of wine.
China’s urbanization process has promoted the growth of red wine sales, and the consumption of red wine will become more and more popular. As the main force of red wine consumption , the middle class will double in number in 2020.
The International Wine and Spirit Research Institute predicts that the consumption of Chinese red wine will further increase by 24.8% from 2014 to 1028, with an average annual increase of around 6%.
Possibility of growth in individual consumption
France is the country with the highest individual consumption of red wine. It’s about 42.7 liters per person, or about 57 bottles, and the United States is 9.17 liters, which is about 12 bottles. The consumption of Chinese red wine per person is only 1.24 liters, which is far below the global inidividual consumption of red wine 3.38.litres: The level of 4.5 bottles.
With the changes in consumption habits, the increase in health requirements, and the popularity and improvement of consumer awareness of red wine culture, it is a general trend that red wine consumption will increase throughout the consumption of alcohol.
The young middle class will become the main force of red wine consumption
As the income level of the Chinese people increases and more attention is paid to physical health, more and more consumers prefer red wine, which generally meets the young people’s pursuit of high-quality life.
Compared with the declining consumption of liquor, the consumption of red wine rises. The concept of healthy drinking has motivated more and more young people to choose red wine. Nowadays, ordinary consumers drinking red wine at home. It has become an important trend in the Chinese red wine consumer market. The potential population of Chinese red wine consumption is expected to exceed 580 million in the future.
Imported wine has a great overall price/performance ratio
The tariffs of red wines in overseas countries are getting lower and lower, and the prices of imported red wines continue to fall, and the cost performance is prominent. For this reason, many domestic large-scale wine groups have begun to turn their attention to overseas estates and vineyards. With the integration of domestic wine giants on overseas wineries, the scale of imported wine will further increase.
In addition, wine consumers currently do not have too much brand loyalty, that is, as long as he finds imported wines that suit his taste, he may be able to move from the original brand to a new brand. So even for the consumer groups of famous domestic wines such as Changyu, and the Great Wall, as long as they find out their own favorable red wine, they will also transfer their consumption. Therefore, imported red wine is easy to attract the attention of consumers because of its huge cost-performance advantage.
Imported wine tasting becomes a part of party culture
Red wine tasting is not only a daily eating habit, but will gradually evolve into a manifestation of party culture. Therefore, we can also think that the development of the Chinese beverage market will gradually emphasize the cultural and social functions of red wine.
The most important thing for consumers to socialize while drinking red, is their own understanding of red wine. All red wine sommeliers and connoisseurs come from consumers. Therefore, domestic wine market has not been opened yet. There is vast space in the market. Therefore, wine merchants should focus on improving consumers’ knowlege about wines, so that they understand how to taste wine, so as to enhance everyone’s appreciation of wines.
To conclude, the prospects for the chinese wine market are broad. The prospect of investing in red wine is bright!