China to overtake UK wine market

27 February, 2018

China is expected to overtake the UK to become the second most valuable wine market in the world, according to data released by IWSR.

During a press conference previewing Vinexpo 2018, CEO Guillaume Deglise presented the data, which predicts that the value of China’s still and sparkling wine market will increase by nearly 40% to around US$ 23bn by 2021.

“China is driving growth in wine,” said Deglise. “The data shows a very sharp increase in the Chinese market and this is a huge opportunity for producers around the world, and that’s why they’ll come to Vinexpo.”

According to Deglise, China will add 29m cases of wine to its markets over the next five years and it is also the largest export market for Australia, the country of honour at Vinexpo Hong Kong 2018.

To capatalise on this export relationship,150 Australian wine producers will be exhibiting at the show in Hong Kong in May, which Deglise claimed is a first.

Aside from the Asia Pacific regions, Deglise recognised the trends developing in other parts of the world, most notably in South America.

Deglise added: “Spain in 2016 was the largest wine exporter followed by Italy, France and Australia. But the main growth is actually with Chile, which has had very strong sales in Asia. The country has benefited from its free trade agreements with China, Japan and Korea.”

Alternatively, the data also revealed that South Africa is the fastest growing market for the sales of rosé, with 5m 9-litre cases predicted to be consumed by 2021.

Vinexpo will have five shows in 2018 and this year will mark the 20th anniversary of the Hong Kong exhibition.

Deglise added: “The news for us is New York. Next month (March) we will be launching our new show in Manhattan and the signs are promising.”

With the launch of Vinexpo New York, Vinexpo is now the only independent international brand working in the wine and spirits sector to cover the three continents with the highest consumption rates.

The IWSR data also revealed that South Korea has the highest consumption of spirits per capita, averaging 31.54 liters a year.

Keywords: vinexpo, IWSR

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