China Will Become the Second Largest Wine Market in 2020

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Vinexpo is one of the most well-known wine and spirits exhibition all over the world which was found by Bordeaux Chamber of Commerce and Industry in 1981. The exhibitions hold in Bordeaux every two years and will been hold in the next year in oversea, and all the industry players are on the tiptoe of expectation for this event, because it provides opportunity for the participants to share news about wine new technology and information.

The exhibition displayed annual report in March 1, 2017 show that the sales volume of wine in China will increase 39.8% in the next three years, so China will become the second largest wine market in 2020. Guillaume Degris, the CEO of the exhibition, said the wine sales volume in China will reach $21 billion 700 million, which will be more than French and British and rank second in the world. By 2020, the U.S. market sales will reach $38 billion 600 million, Britain and France will reach $19 billion 300 million and $16 billion.

However, the report shows that Chinese per capita consumption are still very small, which were 1.34 liters in 2016, ranked 34 in the world and may reach 1.53 liters in 2020. While the French per capita consumption reached 47.19 liters last year which ranked No.1. De Rees said that China is certainly the most attractive wine market in consideration of it’s Large population base, and because of the rapid development of electronic commerce and the changing of young consumers’ consumption habits. Although consumption is rising year by year, but the local Chinese Wine sales fell 8.7% last year because the middle class love foreign wine brand than local wine.

Last year, China has become second largest importer of bubble free Wine which is next only to US. Chinese Wine bubble free imports are expected to increase by 79.3%, reach 94 million 500 thousand boxes (9 liters per case), and become the first major importer in 2020. The report also shows that, compared with wine, liquor consumption in China still can not be transcended. The consumption of spirits in China is the largest in the world, including white spirit, vodka, whiskey, brandy etc, which accounts for about 1/3 of the world.