Retail in Asia

In Markets

Report: China wine industry

Research and Markets has released a report entitled China Wine Industry by 2014. The report provides insights into the Chinese wine industry, evaluating past, present and future scenarios and covering the profiles of the country’s top five wine producers.

The wine industry in China was valued at CNY22 billion (USD3.22 billion) in 2009 and it is forecasted to grow at a compound annual growth rate of over 18 percent during 2010-14.

According to the report, China has recently witnessed a radical shift in wine consumption. A fast-expanding middle class, increased urbanisation and rising disposable incomes are contributing to this change. The increasing influence of Western culture on young Chinese has also helped to bring about a revolution in the industry.

The report finds that a major reason for the high growth rate in the Chinese wine market is the traditionally low per capita consumption, indicating high growth potential for market players.

To purchase the report, visit Research and Markets.

(Source: Research and Markets)