International Wine & Spirits Research predicts that imported-wine market of China would increase by 8% in terms of the importing value in 2019. Although purchases are slowing down, the radical change in consumption will not stop. Wine is touching the cheese of BAIJIU due to the factors of healthy or lifestyle.
IWSR believes that although China does not currently publish official customs wine import data, given the impact of the Sino-US trade war, it is not difficult to infer that the growth rate of China’s wine import market in 2018 is necessarily slower than in previous years. On this basis, IWSR expects China’s wine imports to increase by 8% in 2019 compared to 2018. According to the latest report of the China Wine Industry Association, in the first half of 2018, the volume of Chinese wine trade reached 1.73 billion euros. However, by the end of 2018, the profit margins of China’s major domestic wine merchants continued to shrink. A joint research report by China Wine Industry Association and Yizhi Data also shows that the growth of Chinese wine sales in 2019 will not be very optimistic.
Despite this, the consumption habits of alcoholic beverages in Chinese society are quietly changing, and wine is instigating the dominance of liquor. More and more young people are beginning to understand, buy and drink wine. Older people are increasingly giving up drinking white wine for their health, and instead choose wine, especially red wine. Given the uncertainties in the economic environment, by 2022, the annual production of Chinese native wines will fall to 816 million bottles, a decrease of 6.8% compared to 2018, but the wine consumer groups will continue to grow slowly.
