Wine has a huge fan base all over the world, and it’s only getting more popular. Producers are making inroads into new markets, where wine has traditionally not had a large following. This includes China, which according to new figures, will soon become the world’s second largest wine market.
The rise of globalisation and the digital revolution, is making it easier for Chinese consumers to get wine, especially online, than ever. The product has seen a spike in interest in the People’s Republic in recent years, with red wine proving really popular, as red symbolises luck in Chinese culture.
We already know that China is the world’s largest red wine market, as of 2014. Data quoted by The Guardian shows that drinkers in the People’s Republic consumed 1.86bn bottles of red wine in 2013, signalling a rise of 136% in five years. Red wine consumption volumes in the world’s most populous nation have remained strong in the intervening years, and now China close to earning a new title.
Statistics recently released by leading wine exhibition Vinexpo (via The Drinks Business, an industry publication), estimate that Chinese wine sales will expand by 39.8% over the coming three years. Talking recently to the press Guillaume Deglise, the CEO of Vinexpo, noted that with this rise, China will become the planet’s second largest wine market by 2020, surpassing the UK and France.
China only has the world’s 36th highest wine consumption rate, at 1.34 litres per person. In contrast, this rate is 47.19 litres per person for France, but China’s rate is expected to climb to 1.53 litres per person by 2020. Meanwhile, the value of China’s wine sales are forecast to hit US$21.7 billion in three years’ time, meaning that with a value of US$38.6 billion, only the US’ wine market will be larger.
It seems that most of China’s progress will be made in the non-sparkling wines category. Vinexpo’s figures indicate that by 2020, over 94.5 million cases of non-sparkling wines are forecast to be shipped out to the People’s Republic, equalling a rise of 79.3%. Wine drinking in the country, however, still lags behind spirits consumption. China is the world’s largest consumer of spirits including vodka, whiskey and high-class brandies such as Cognac, which is known for its intense flavours and exclusivity.
Chinese consumers are increasingly buying wine, especially reds, for the same reason it has proved popular for centuries. With wine you’ll get a rich drink, full of various complex fruity flavours, which are sure to give your taste buds an experience they’ll never forget. If you want to jump on the bandwagon, consider opting for fine wines produced in top wine-making regions such as Bordeaux, California and Burgundy. You can find wine from all these regions on the Ideal Wine Company website!