China Wine Market Forecast 2023-2030

China Wine Market Forecast 2023-2030

KEY FINDINGS

The China wine market is projected to rise with a CAGR of 1.31% in terms of revenue and -2.76% in terms of volume over the forecast years, 2023 to 2030. The country’s market growth is attributable to key drivers, such as the surge in disposable income & rise of the upper-middle-class sector, health benefits associated with wine consumption, and increasing digitization and adoption of e-commerce for wine sales.

MARKET INSIGHTS

China presently stands as one of the top 10 global markets for high-quality wines. The international varieties of Syrah, Riesling, Merlot, Carménère, Cabernet Sauvignon, Cabernet Franc, and Chardonnay hold significant prominence in the nation’s vineyards. Notably, red wines have garnered more favor than their white counterparts. Distinguished wine-growing regions in China include Hebei, Ningxia, Yunnan, and Shandong. Moreover, wine consumption in the country predominantly spans restaurants, hotels, bars, and other on-trade establishments. However, recent trends reveal an upward trajectory in domestic consumption, as well.

The surging popularity of wine consumption, particularly among urban dwellers, acts as a pivotal propeller for the China wine market. The latest national census underscores that the country harbors around 52 million regular wine consumers and over 900 million urban residents with substantial disposable income. Furthermore, according to CADA (China Alcoholic Drinks Association), the primary consumers of alcoholic beverages fall within the 20 to 34 age bracket. Consequently, these factors are set to boost the China wine market growth during the forecast period.

COMPETITIVE INSIGHTS

Leading firms operating in the market are Yantai Changyu Group Co Ltd, Dynasty Wine Group Co Ltd, Yantai Pengzhu Winery Co Ltd, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments