New figures have shown the Ideal Wine Company team that Australian wines are currently proving to be popular in China.
China is the largest growing economy in the world. The People’s Republic has seen its middle class grow phenomenally in the past decade, and many of them are rapidly developing a taste for wine. Statistics indicate that China is the fifth largest consumer of wine on the planet.
Meanwhile the largest nation (by population) on earth overtook France in 2013, to become the top buyer of red varietals in the world. The Australian wine-making industry has developed a reputation for producing fantastic vintages, including reds. According to Food Bev, Australian bottles are starting to sell particularly well in the People’s Republic.
The publication noted that the two countries signed the China-Australia Free Trade Agreement in 2014. This treaty caused the People’s Republic to start reducing tariffs on Australian wines this year, with the goal of eventually abolishing them altogether by 2019.
Statistics suggest that the Trade Agreement has benefitted the Australian wine industry’s standing in China. Industry publications have reported that Australian bottled wines have increased 50.8% by value and 20.5% by volume, since it was signed.
Opportunity for Australia
Stuart Barclay, of industry body Wine Australia, commented on the significance of these figures. He said that “the Asia-Pacific represents an important opportunity for Australia and we are on its doorstep.” He went on to note, “the Asian market is also still understanding what wine really is, so the potential in Asia, specifically in China, is enormous for Australian wines.”
Sirromet Wines, a family-owned winery in Queensland, Australia, has benefitted from trade with China. Rod Hill from Sirromet Wines explained how rapidly attitudes to wine have changed in the People’s Republic. He commented, “five years ago, it was rare to see people in bars drinking wine. When I was there seven months ago, I just couldn’t believe the size of the wine lists.”
Sample Australian wines
The wine lists of China are increasingly featuring Australia bottles because the land down under makes some of the best vintages on the planet. If you want to sample a stellar Australian wine, why don’t you buy the Hobbs 2006 from the Ideal Wine Company right now!