Wine is as popular as ever in the United States. But consumption here pales in comparison to the world’s leading wine consuming nation: China. According to UK-based IWSR, wine consumption in China increased 36% between 2010 and 2014. That amounts to just under 12% constant annual growth rate. Canada, the second fastest growing, trailed significantly at just over 2% CAGR. In 2014, twice as much wine was consumed in China as compared to the U.S. WINE ON STARK INSIDER: 10,000 grapes & New World Grand Cru – Randall Grahm’s bold new venture This of course is not entirely new news. China’s middle class has exploded in recent years, and, along with it, a taste for luxury goods, including fine spirits, and wine. Last year, land allocated to vineyards grew to 1.9 million acres, even putting it in front of France (but behind leader Spain). And reports are suggesting that domestic wine production in China is now producing wines that are have gone “from bad to good.” Meantime, looking forward: wine consumption in China is forecast to rise about 25% by 2018 (181 million cases). Opportunity, indeed. Source: “Top Chinese Wines Have Gone From Bad to Good. Will They Become Great?” (Bloomberg) But, the economy? There are well documented concerns that the Chinese economy is slowing. Could that too impact non-discretionary spending among the bourgeoisie? Time will tell of course. Given the size of its population and that wine is still a relatively young consumer trend, there are likely still plenty of opportunities, both for the emerging domestic producers, and exporters abroad (France is the number one importer to China). ALSO SEE: China may soon be the world’s biggest producer of wine. In his father’s hometown, a prominent architect — and unlikely winemaker — sees a new Napa. According to IWSR the outlook in China remains “strong”, at least in the long term.
China is the world's leading wine consuming nation, with wine consumption in the country increasing 36% 2018. Last year, China consumed twice as much wine as the US, and due to China's growing middle class wine consumption is expected to continue to increase, growing by 25% by between 2010 and 2014.