The total number of wine importers to China is up 200% in the last five years according to a new research report by Rabobank International which said the supply of grape wine has risen 14% year-on-year to roughly 1.4 billion litres in 2011: of which 17% (or 241 million litres) was foreign bottle wine, a 65% increase year-on-year.
The report said both domestic and foreign wine companies continue to grapple with how to most effectively identify, reach and communicate to an ever changing consumer base. “Wine is well positioned for the future with a growing number of a younger (between the ages of 20-39 years old), more affluent consumers who are increasingly exploring wine as a viable alternative.”
The report said that whilst Chinese domestic wine companies have been largely caught off-guard by competition from foreign wine imports they are now restructuring their businesses to ensure they aren’t denied their share of the market’s future growth.