一、 Rapid growth of the imported wine market
Growth in import volume and import value: According to data released by the General Administration of Customs, wine import volume in the first half of 2024 was approximately 130 million liters, a year-on-year increase of 1.78%; the import value was approximately US$710 million, a year-on-year increase of 20.63%. Although the import volume dropped slightly in June (down 3.08% year-on-year), the import value still achieved substantial growth (up 56.87% year-on-year).
Export growth in specific countries: It is particularly noteworthy that Australian wine exports to mainland China have surged since China lifted its anti-dumping and anti-dumping measures on Australian wine. In the second quarter from April to June 2024, the volume of Australian wine exports to mainland China increased by 144 times and 188 times respectively year-on-year, showing strong growth momentum.
二、Changes in the domestic wine market
Fluctuations in production and consumption: Although domestic wine production has declined in recent years, market consumption still maintains a certain level. This may be related to the rapid growth of imported wine and changes in consumer preferences.
Improvement of brand and quality: As market competition intensifies, domestic wine companies have strengthened brand building and improved product quality. At the same time, some domestic wines have won multiple awards in international competitions, which has also enhanced the international visibility and reputation of Chinese wines.
三、Market driving factors
Growth of consumer demand: With the improvement of people’s living standards and changes in consumption concepts, more and more consumers are beginning to pay attention to the quality and cultural connotation of wine. This provides a strong impetus for the growth of the wine market.
Expansion of sales channels: The rise of e-commerce platforms and cross-border e-commerce has provided new channels for wine sales. Through big data analysis and precision marketing, e-commerce platforms can more effectively reach target consumers and increase sales.
Policy support and standard improvement: The Chinese government has actively promoted the internationalization process of the wine industry, joined the International Organization of Vine and Wine (OIV) and issued new wine quality requirements standards, which will help enhance the international competitiveness and market position of Chinese wine.
四、Future development trends
High-end, branding, and internationalization: China’s wine industry will develop in the direction of high-end, branding, and internationalization to meet consumers’ pursuit of high-quality life.
Quality and personalization: High-quality, personalized wine products will be more competitive in the market. Wineries need to continuously improve product quality and technical level to meet consumers’ demands for quality and personalization.
Intelligence and digitalization: Intelligence and digitalization will become important directions for the transformation and upgrading of wineries. Realize automation and refined control of the wine brewing process through intelligent equipment, and realize wine sales, marketing and service innovation through digital technology.
The astonishing growth of the wine market is the result of a combination of factors. In the future, with the continued growth of consumer demand, the continuous expansion of sales channels, and the continuous strengthening of policy support and standard improvement, the wine market is expected to continue to maintain a good development trend.
