China wine industry to grow at a CAGR of over 18% during 2010-2014

The wine industry in China was valued at RMB 22 Billion in 2009 and it is forecasted to grow at a CAGR of over 18% during 2010-2014. 

China has witnessed a radical shift in the consumption of wine over the recent past. Fast expanding middle class population, increased urbanization and rising disposable income are some of the major reasons contributing to this change. Besides this, increased influence of Chinas young population towards western culture has also brought a revolution in the China’s wine industry.

The major reason for such a high growth rate in the Chinese wine market is attributed to the low per capita consumption of such drinks, thus indicating high growth potential for the market players.