According to Vinexpo, the wine and spirits trade association in terms of consumption of red wine, China has emerged as a global number one. The consumption of red wine in China has increased to such an extent that it has surpassed the consumption levels of the same in Italy as well as in France. However, when it comes to the consumption of different varieties of wines, the U.S. retains its leading position in the global market for wines.
As per industry reports, in 2014, the total consumption of red wine in China resulted in a whopping 1.8 billion red wine bottles. In other words, this consumption figure indicated an increased consumption of 136% over the last five years. In fact, such a demand figure brought France and Italy to the second and third positions respectively.
Ongoing trends indicate that over the past couple of years, the overall demand for red wine in China has surged dramatically. With a dense population of more than a million, the market for red wines in China is typically propelled by robustly growing personal wealth coupled with a consistently surging demand for foreign goods.
According to experts in the China wine market an interesting reason behind this rapid growth in demand for wine in China is because of the belief that the color is in a way associated to luck in this oriental country. Also, the color white is associated with death. So it can be inferred that cultural factors play a crucial role in driving or perhaps restricting the demand for wines in China.
It is however anticipated that with the maturity of the wine market in China, the demand for champagne and white wine may perhaps surge significantly in the forthcoming years. Vinexpo also expressed that with the U.S. being by far the top ranking wine consumer in the world and China holding the fifth position in the overall wine market, the latter’s ranking will not change any time soon.