Date£º
2015-11-17 16:23 Source£º
thedrinksbusiness Author:
Patrick Schmitt Translator:
After two years of slowing wine sales in China, customs data from the last nine months shows that the rapid rate of growth is back.
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Speaking at ProWine China last week, Richard Halstead from Wine Intelligence initially drew on IWSR statistics to show how China went from a fast-growing market for wine from 2010 to 2011, before peaking in 2012 and then falling during the past two years.
¡°In 2012 the market got to 30 million cases of imported wine and 142m of domestic, but the market has been declining ever since,¡± he said, as shown in the bar chart, bottom.
However, having obtained Chinese customs data for wine covering the last nine months from January to September, he highlighted a return to the rapid growth rate rates before the start of president Xi Jingping¡¯s austerity drive, which began more than 18 months ago.
¡°The growth is back, we¡¯ve seen around a 50% year-on-year volume increase and 30% value increase,¡± Halstead recorded.
Explaining to some extent the greater gain in volume compared to value, Halstead drew attention to the huge growth in bulk wine imports.
¡°Bulk wine has more or less doubled in the 9 month period compared to the previous year,¡± he stated, noting a 100% increase to 98m litres (which is equivalent to 10.9m nine-litre cases).
Bottle wine meanwhile has risen 39% in volume, while sparkling wine has continued to decline, and fell by 7% in volume compared to the same period in 2014 (see figures below).
Halstead wasn¡¯t able to provide the same 2015 data to show the sales trend in domestic wine sales ¨C a category that has been hit the hardest by China¡¯s crackdown on state spending, such as banqueting among government officials.
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Imported and domestic wine consumption in China (2010-2014). Supplied by Wine Intelligence. Data source: IWSR