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China report highlights impressive growth opportunities
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China’s newly wealthy consumers are waking up to the pleasures of imported wine, according to the Wine Intelligence China Landscape report released in Australia today by Food and Wine Insights.
The report predicts the number of Chinese consumers who can afford to regularly buy imported wine will increase by 71% over 15 years from about 23 million in 2010 to 80 million by 2025.
According to the report, wine consumers in China say they enjoy the sophistication and feelings associated with drinking a good bottle of imported wine, and are finding more room for it in their everyday lives.
China is already the eighth largest wine market, by volume, on the planet: the most recent data measures it at 72 million cases, with a growth rate of 18.5%.
“I think most of the wine industry round the world would agree that Asia in general, and China in particular, represent a colossal opportunity for sales growth over the next 20–30 years,” says Wine Intelligence chief operating officer Richard Halstead.
“Yet the closer you get to the market, the more you see that global brand owners have a lot of work still to do, both in terms of distribution and product positioning, to really engage with Chinese consumers.
“We can be pretty certain that the demand for wine will grow exponentially in the next decade with the increasing wealth among Chinese urban professionals, but the question is: whose wine will they be drinking?”
The 150-page China Landscape report details the wine usage, and attitudes towards wine, of Chinese upper middle class consumers who can afford to buy imported wine.
The report provides commentary on positioning wines to meet the needs and attitudes of Chinese consumers, consumer targeting and value analysis, in-depth analysis and comprehensive facts and figures on the market opportunities.
It draws on extensive quantitative and qualitative primary research conducted by Wine Intelligence in November and December 2009.
The China Landscape report is published by Wine Intelligence and is available in Australia through Food and Wine Insights as a 150 page, pdf report.