SUMMARY
CHINA: Trends, Aromas and Flavours.
"According to a study carried out by the Trade and Development Council (TDC) of Hong Kong, the Asian wine market will grow by 10 to 20% over the next five years. In 2017, the country will be importing nearly 559 million euros' worth of wine". (article excerpt from www.icex.es)
In China, current wine consumption per capita is approximately 0.4 litres a year, whereas the world average is 7 litres. These consumers are being profiled as a new opportunity in the winemaking sector. They are emerging markets in continuous growth, as their populations are not very accustomed to consuming wine. There are some examples demonstrating this boom, such as Hong Kong, with 2.4 litres, and Singapore with 1.3 litres of annual consumption
In China, current wine consumption per capita is approximately 0.4 litres a year, whereas the world average is 7 litres. These consumers are being profiled as a new opportunity in the winemaking sector. They are emerging markets in continuous growth, as their populations are not very accustomed to consuming wine. There are some examples demonstrating this boom, such as Hong Kong, with 2.4 litres, and Singapore with 1.3 litres of annual consumption
The outlook is very positive, and with the increase in income per capita forecast for the next few years, this difference will gradually fall away. The exodus to the cities will have effects on consumption patterns and will have positive repercussions.
Wine is starting to establish itself as a typical product for celebrating various social occasions, although taxes make it an expensive option. Given the desire for social recognition, with some combinations the new rich are opting for foreign brands that look expensive, like the Bordeaux. Also, since there is very little tradition of wine culture, most of the wine consumed is of poor quality, and is usually mixed with other drinks. Preferences show that 80% of consumption is represented by red wine, against white wine which accounts for 20%. Rosé is hardly consumed at all.
For distributors of foreign wines, managing to convey wine culture will be the key factor in selling a product that people can enjoy and with which they can establish loyalty.
China receives wines from various countries: France supplies practically 33% of its imports; USA 20%; and Australia has doubled its sales achieving a market share of 15.5%. Chile has also greatly increased its exports to China over the last year by 75%, and now has a market share of 8.5%. Spain and Italy are still minor suppliers.
These trends are similar in Taiwan, Thailand, Philippines, Singapore, and India.
The wine sector and cava sector are currently undergoing a real transformation process. We can see various consumption trends in the market that are clearly different with respect to the historic track record of each country.
Wine is starting to establish itself as a typical product for celebrating various social occasions, although taxes make it an expensive option. Given the desire for social recognition, with some combinations the new rich are opting for foreign brands that look expensive, like the Bordeaux. Also, since there is very little tradition of wine culture, most of the wine consumed is of poor quality, and is usually mixed with other drinks. Preferences show that 80% of consumption is represented by red wine, against white wine which accounts for 20%. Rosé is hardly consumed at all.
For distributors of foreign wines, managing to convey wine culture will be the key factor in selling a product that people can enjoy and with which they can establish loyalty.
China receives wines from various countries: France supplies practically 33% of its imports; USA 20%; and Australia has doubled its sales achieving a market share of 15.5%. Chile has also greatly increased its exports to China over the last year by 75%, and now has a market share of 8.5%. Spain and Italy are still minor suppliers.
These trends are similar in Taiwan, Thailand, Philippines, Singapore, and India.
The wine sector and cava sector are currently undergoing a real transformation process. We can see various consumption trends in the market that are clearly different with respect to the historic track record of each country.
