China Wine Market Sees Increase in Consumption
The consumption of wine in China has increased by 5.6 percent last year even with a gloomy political and economic situation for the market. A research report recently released showed a total of1.94 billion of bottles of wine were consumed in China last year a 1.43 bottle per capita showing that the market has great potential.
Issued by the Wine Academy of the Northwest Agriculture and Forestry University in Yang-ling, the report stated that the country has now entered the era of mass consumption and fast growth which means that the proportion of high end wines is shrinking and mid and lower range wines is fast gaining ground.
Before the Chinese spent more on expensive wines that on cheaper ones for business reasons or giving them out as presents, but now the situation has reversed. Now the country can expect the market to double soon as strong consumption growth is seen in major cities and coastal cities as well.
Starting this year, wines coming from Chile will be exempted from tariffs and wines from Australia will enjoy zero tariffs in the coming years thanks to a free trade agreement that was signed by China and Australia. Also Helanshan East Valley the most prominent wine region in Ningxia Hui autonomous region will work on improving the quality of its wine to secure a place in the fast growing market.