Vinitaly roadshow in China kicks off with high hopes

Vinitaly has added three cities in Southeastern China to its roadshow stops this year from 11 to 14 June in an effort to expand its presence in the region and to target China’s growing urban population.

The three cities – Shenzhen, Changsha and Wuhan – added by Veronafiere have a combined population of 40 million inhabitants.

“These three cities,” said Giovanni Mantovani, CEO of Veronafiere, “are strategic hubs for spreading the culture, history and lifestyle of Italian wine with a view to encourage consumption. Italian wine exports to China have increased by 50% over the last ten years but we are still a long way behind the results achieved by our competitors.”

“The Vinitaly-Nomisma observatory has estimated, through to 2022, an overall increase in Chinese wine imports of 6% per year and 7.5% for Italian labels. This is the catchment of potential consumers we must focus on, not the least thanks to the support of ICE-Italian Trade Agency, with which we continue to work profitably within the scope of the Special Made in Italy Promotion Plan.”

Future demand for wine in China will be concentrated in cities, given the growing importance of an upper class enjoying high spending power (25% of the population by 2022) and a urbanisation rate that will increase by 5% over the next five years to 63%, according to the trade organisation.

According to data published by the Vinitaly-Nomisma Wine Monitor Observatory, wine consumption in China grew by 3% in 2017, compared to 2016, with imports worth around €2.5 billion, doubling in value over the last ten years.

Italy’s market share in the opening months of 2018 is around 7% and growth margins for Italian exports are consequently still very high, said Vinitaly.

 

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