The comment, made by Zhao Yu, deputy secretary of the Chinese Association for the Distribution of Alcoholic Beverages and Spirits, came at a time when the market confidence in wines resembled China’s wine production was En Decline over the years.
IMPORTED WINES WON’T TAKE UP 40% OF MARKET IN CHINA
Domestic wine production suffered four years of consecutive losses, down 1% to 11.37 billion liters in 2016, according to the National Bureau of Statistics. At the same time, wines imported into the country rose 15% year on year to 638 million liters last year.
Imports of bottled wines, in particular, increased by 21.8% year-on-year in volume to 481 million liters.
Chinese wines still dominate the market
Despite the strong momentum, Chinese wines still dominate the market with a current share of 70%, said the official, adding that the image and quality of domestic wines have been greatly improved.
“Although wise production, there is no increase in domestic wines, based on research and market research, its market share has come to stabilize, oscillating around 70%. Proposed in terms of product quality, marketing and sales, especially with lesser known brands of second or third level.
Zhang Xu, deputy director of Shandong Yantai’s Vine and Wine Bureau, said that the growth rates of imported wines in 2016 were higher than those of 2015 (45% in volume and 34% in value). “This means imported wines,” Zhang told the newspaper.
Slowdown in the Chinese economy
Judging by the general slowdown in the Chinese economy, a full recovery and strong growth for the Chinese wine market in the coming years is obviously too optimistic, Zhang added.