With over 310 million dollars, China’s Wine & Spirits market is on the rise!
What factors have influenced the evolution of the industry? What are the main targets and the players behind these changes?
Driven by demographic and social changes, the steady growth of China’s Wine & Spirits consumption reveals some surprising developments in the Chinese society, reflecting ever-changing consumer habits.
Sopexa China unveil the secrets of a rapidly expanding market, in which many opportunities are emerging. Richard Krystkowiak, Managing Director of Sopexa China, together with Min Chun, Research Director at Daxue Consulting, conducted a research project providing a clear vision of recent trends and developments in the Chinese Wine & Spirits industry.
Conducted over several weeks within an extended network, the study highlights the key players of Chinese trends’ evolution. Gen Z and women expansive demographics are leading the shift of the local drinking culture, from the dominant domestic Baijiu to wine and imported spirits.
The research results show that the category is driven by European wines, whiskies and cognacs, accounting for more than 68% of imported alcoholic beverages consumed in China. Imported French wines and spirits account for the largest share of China’s alcohol market revenue, with over $800 million.
At the heart of this study, the following issues have been explored in order to deepen and perfect the knowledge of the wine and spirits market in China:
- How do foreign brands adapt to the Chinese wine market, while maintaining their own identity?
- To what extent did lockdowns have an impact on Chinese women’s alcohol consumption and drinking habits?
- On what occasions do Chinese consumers drink wine and spirits?
- What are the drivers for Chinese to consume wine and spirits?
- Which countries are gaining popularity as importers, and which are facing difficulties?
- How should wine and spirits brands market their products in China?
Sopexa China and Daxue Consulting answer all your questions and more about China’s Wine & Spirits industry!
Some key indicators!
USD generated by brands
Main cities leading the trends
Main beverage typologies driving the market
You missed the Live on Thursday, November 17?
Watch the entire study, including Q&A!
👇 Watch the Replay here 👇