China splurges 430% more on ‘expensive wine’

10th April, 2014 by Lauren Eads

China is now the world’s second biggest consumer of high-priced wines, following the US, according to a report prepared ahead of international wine show, Vinexpo.

China WineThe Chinese, including buyers in Hong Kong, were second only to the US for their willingness to spend US$10 or more on a bottle of wine, according to a report in the South China Morning Post.

Its positioning comes shortly after China was declared the world’s biggest consumer of red wine, overtaking France last year consuming 155 million nine-litre cases in 2013.

The Chinese wine market is now fifth in the world following significant growth in recent years.

Guillaume Deglise, Vinexpo chief executive, said: “We cannot expect the market to have more three-digit growth, but we can still expect the growth to continue”, adding that he believed people were still “afraid of the new laws and regulations,” following austerity measures introduced by the Government.

According to the report, China’s spending on more expensive wines surged almost 430% from 2008 to 2012, with further growth of 60% expected by 2017.

British drinkers were listed as world’s third pricey wine purchasers followed by France and Canada.

Of the wine consumed in China, 90% is red, a trend attributed to the belief in its health benefits, however Deglise said that could change as China’s palate matures.

He said: “China is like Japan 20 years ago. The Japanese started with red but the market is now very mature with a huge space for white, rosé and sparkling.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

New Business Development Manager Nordic

Concha Y Toro
Stockholm, Sweden

Experienced Administrator

The Drinks Business
Central London, UK

Sales Executive (London – Craft Spirits)

Bimber Distillery
London, UK

2 x Buying Assistants

Berry Bros. & Rudd
Battersea and Basingstoke, UK

Temporary Christmas Sales Support - Wines & Spirits

Harrods
Knighsbridge, London, UK

Head of Wholesale

Hispamerchants Ltd
London, UK

Sales Manager

Hispamerchants Ltd
London, UK

The World Bulk Wine Exhibition

Amsterdam,Netherlands
20th Nov 2017

The Drinks Business Green Awards 2017

London,United Kingdom
20th Nov 2017

The Global Spirits Masters Lunch

London,United Kingdom
1st Dec 2017
Click to view more

Green Awards 2017

Deadline : 25th October 2017

The Global Riesling Masters 2017

Deadline : 30th October 2017

Click to view more

Champagne Masters 2017

The only Champagne blind tasting in the UK, the competition will reward the best wines in the following categories:

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

Click to view more