China to expect a bull wine market in 2009

At present, both New World wine and Old World wine have gained their market shares in China with prices going down to such a degree that the domestic wine market is squeezed. In addition, with the decline of wine consumption in the international market, many international wine exporters see China as a developing wine market. In 2007, imported wine recorded a market share of 10% in 2007 and 14% in 2008 in Chinese wine market. The number is expected to reach 20% in the next couple of years. It is reported some New World countries such as Australia and Argentina will increase their wine exports to China in 2009. The wine consumption in Europe and the United States were distinctly affected by the economic crisis, so the wine companies from these countries also expect to have a better performance in China this year.

 

2009 will be a transitional year for domestic wine makers. After several years of fast growth, they have caught steady market shares. The enforcement of New National Standard put the development of domestic wine industry into standardization last year. Therefore, they will endeavor to have their own vineyards to improve wine quality and put more efforts on marketing