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China to Become World?s Seventh Largest Wine Consumer by 2013
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China to Become World?s Seventh Largest Wine Consumer by 2013

Mar 11, 2010
China, the largest wine consuming nation in Asia, is all set to grab the seventh position in world ranking by 2013, with more Chinese women indulging in wine drinking.
 
According to Vinexpo, China, which is currently the eighth largest wine consuming country, is likely to become the seventh largest wine consumer, as per the news published by Indian Wine Academy. Vinexpo is the organizer of one of the leading wine and spirits exhibitions in the world.
 
In 2013, China is expected to drink around 1.26 Billion bottles of wine, up around 32% from 2009.
 
The country’s wine consumption grew by around 80% between 2004 and 2008. It consumed 74.97 Million wine cases (900 Million bottles) in 2008. China accounted for 68.9% of all still light wines consumed in Asia in 2008. The country accounted for 3% of global wine consumption in the same year.
 
Red wine accounts for 88% of annual overall sales by volume in terms of drinking preferences. In addition to this, the consumption of white wine is surging as more women in the country build up a taste for wine. In the wake of this, the consumption is anticipated to increase by 41.7% by 2013.
 
China holds huge potential of wine consumption. Chinese, due to an increase in their average incomes, are now showing higher inclination to lead a luxurious life. As the income increases, Chinese people tend to spend more on lavish things like wine. In addition to this, western eating and drinking patterns are also playing a crucial part in spurring the development of the country’s wine market.
 
Wine comes under the category of fast moving consumer goods, with minor differences in product attributes, features and techniques. Hence, distribution channels and marketability have become critical success factors, in particular the channels, which are roughly divided into retail chains and hotels/restaurants.
 
The growing demand will also boost wine import in China. With France being the major foreign supplier, the share of imported wines was just 11.8% of China's total consumption in 2008. However, their market share is expected to reach around 15.8% by 2013.
 
According to a Research Analyst at RNCOS, “The economic turmoil of 2009 has impacted the wine industry of the old world greatly. However, during the Great Recession, China’s wine industry celebrates favorable growth. To exploit the opportunities of country’s wine market, it is must for brand owners to acknowledge the tastes of people, illustrate their products well, and understand that they must be customized as per the Chinese requirements.”
 
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