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Luxury Wine General market
The wine sector in China is highly valuable and growing relatively fast, in this business review we assess the current market situation and ask an expert on the subject, Francisco Hernandez the General Manager of China Wines and Spirits to provide his opinion.
Mintel recently estimated that China’s red wine consumption in 2012 (retail and non-retail) reached 842.4 Million litres, worth an estimated 46.3 Billion RMB. It is expected that by 2017, consumption will reach 2.827 Billion litres and a value of 93.8 Billion RMB, a CAGR of 15.2%. Fortune Character magazine however, considers Chinese wine consumption to already be over 100 Billion RMB. In either case volumes are high. …
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