The Chinese Wine and Spirits Market(2)
By 2009-3-11 13:13:10
Wine sales turnover grows faster than the volumes consumed
Between 2003 and 2007, wine retail sales doubled, while the volumes of wine consumed increased by 61.59% over the same period.
This gradual increase in value is mainly the result of wines being imported that are dearer on average than Chinese wines. Imported wines accounted for 36.33% of total wine sales turnover in 2007, while they only amounted to 9.9% of the total volumes consumed.
Premium segments of the market grow fastest
Wines sold for less than US$5 per bottle accounted for 82.9% of sales in 2007, but the fastest growing segments were wines priced between US$5 and US$10 per bottle and those sold for more than US$10, which increased by 542% and 522% respectively between 2003 and 2007.
Between 2007 and 2012, wines priced higher than US$10, which have a market share of 7.5%, should grow the most at an estimated 77.44%.
France, the leading supplier to China
France is still the leading supplier of wines to the Chinese market, having imported 2.37 million cases there in 2007. These volumes, however, grew more slowly between 2003 and 2007, than those from Australia and Italy, which were respectively the second and third largest suppliers to China in the period.
The Spirits Market in China
Spirits consumption is down
Having downed 496.74 million cases of spirits in 2007, China is the world’s leading spirits consumer despite a slight slow-down of 0.67% between 2003 and 2007.
The Vinexpo / The IWSR study forecasts a decrease in the consumption of spirits in China of 8.24% between 2008 and 2012.
The decrease is in fact characterised by falling consumption of local spirits, while the volumes consumed of other spirits will undergo double-digit growth.
Cognac becomes second most consumed spirit ahead of whisky
As Chinese government campaigns continue to drive down the consumption of local spirits (liqueurs and rice alcohol), they nevertheless remain the clear leader on the market in 2007 with a total volume of 492.690 million 9-litre cases consumed, almost 6 billion bottles.
Scotch whisky volumes amounted to 1.8 million cases in 2007, maintaining the second largest market share. Whisky will however be beaten by cognac in 2012, which is expected to represent 2.8 million cases as opposed to whisky’s 2.5 million.
From vinexpo
