Summary
China's imported wine market generated about RMB 38 billion in turnover in 2023, up 7.5% year-on-year,
with imports of nearly 580 million litres. France commanded over 40% market share, while e-commerce channels accounted for more than 32%. The market is forecast to expand at a compound annual growth rate of 6-8% over the next five years,
surpassing RMB 55 billion by 2028.
Commentary
China's wine market expanded 7.5% last year, with e-commerce capturing 32% and lower-tier cities showing rising demand. France maintains dominance with a 40% share. Under the New Zealand-China free trade agreement, Marlborough Sauvignon Blanc is gaining recognition but still holds a tiny share.
The return of Australian wine intensifies competition, while Chile seizes the low-to-mid end tariff-free. New Zealand small and medium-sized enterprises should focus on premium wines, leveraging the purity brand story to supply directly to wine bars, using Xiaohongshu for seeding and blockchain for provenance. As consumption upgrades favour artisanal wines, small wineries could jointly exhibit, share channel costs, and manage currency and inventory risks.
Keywords: imported wine, market size, competitive landscape, investment outlook, France, e-commerce channel, consumption upgrade, mid-to-high end, compound annual growth rate, policy environment
Source: Renren Library
Disclaimer: This article is compiled from publicly available sources for general information only. The analysis and commentary are editorial opinions. MiDeer Observer does not guarantee the accuracy or completeness of the information provided. Readers should seek independent professional advice before relying on this content, or contact us for more information.
