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Wine is becoming more fashionable in China and wine consumption has been steadily increasing, especially among white-collar workers and young people, says IBISWorld. Over the five years through 2012, revenue for the Wine Production industry in China has been growing at an annualized rate of 21.3% to $7.0 billion in 2012.
San Francisco, CA (PRWEB) December 08, 2012
Over the five years through 2012, revenue for the Wine Production industry in China has been growing at an annualized rate of 21.3% to $7.0 billion in 2012. The industry has also become increasingly profitable as demand grew and pricing levels remained steady.
Wine is becoming more fashionable in China and wine consumption has been steadily increasing, especially among white-collar workers and young people, says IBISWorld. Various media have been popularizing wine culture and foreign enterprises have held many wine-tasting promotions. This has helped enrich consumer knowledge of wine and stimulated wine consumption. In addition, the government has been encouraging the consumption of drinks with lower alcohol content, such as wine. Attracted by the growing Chinese market, many foreign winemakers have entered the Wine Production industry, mostly targeting high-end markets.
In 2012, revenue of the industry's top four winemakers, including Yantai Changyu, Dynasty, COFCO and Yantai Weilong, account for about a third of total revenue, indicating a medium level of industry concentration. Large investments in market channel development and vertical integration have enabled the major players to increase market share.
IBISWorld anticipates that growing consumer purchasing power in China will continue to drive domestic demand growth for the Wine Production industry. However, with accelerated output levels, a lack of raw materials (i.e. wine grapes) will become a serious industry issue, as there are only nine major wine grape production bases in China. To alleviate this problem, large enterprises will continue to develop their own vineyards and introduce better grape varieties.
For more information, visit IBISWorld’s Wine Production in China industry report page.
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IBISWorld industry Report Key Topics
The Wine Production industry in China produces wine from grapes or grape juice. Industry products include dry red wines, dry white wines, sweet wines and specialty wines.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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