China: Wine Market 2023

Wine Market Size in China

The Chinese wine market reduced to $X in 2022, declining by -2.1% against the previous year. Overall, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.6% against 2020 indices. Wine consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Wine Production in China

In value terms, wine production fell modestly to $X in 2022 estimated in export price. In general, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 29%. Wine production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Wine Exports

Exports from China

In 2022, approx. X litres of wine and grape must were exported from China; waning by -30.2% on the previous year's figure. In general, exports, however, posted a notable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 150% against the previous year. The exports peaked at X litres in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, wine exports fell sharply to $X in 2022. Overall, exports recorded a deep reduction. The growth pace was the most rapid in 2014 when exports increased by 242% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X litres), Australia (X litres) and Brazil (X litres) were the main destinations of wine exports from China, together comprising 12% of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +90.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from China were Australia ($X), Singapore ($X) and the United States ($X), together comprising 11% of total exports. France, Brazil, Malaysia and South Korea lagged somewhat behind, together comprising a further 2.1%.

Brazil, with a CAGR of +71.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wine export price amounted to $X per litre, declining by -28.2% against the previous year. Overall, the export price showed a abrupt setback. The growth pace was the most rapid in 2014 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices reached the maximum at $X per litre in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per litre), while the average price for exports to South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into China

In 2022, approx. X litres of wine and grape must were imported into China; with a decrease of -16.2% compared with 2021 figures. In general, imports recorded a slight setback. The most prominent rate of growth was recorded in 2015 with an increase of 44% against the previous year. Imports peaked at X litres in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, wine imports declined to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 34% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Chile (X litres), France (X litres) and Spain (X litres) were the main suppliers of wine imports to China, together accounting for 39% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +8.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of wine and grape must to China, comprising 23% of total imports. The second position in the ranking was taken by Chile ($X), with an 11% share of total imports. It was followed by Italy, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+8.3% per year) and Italy (+3.3% per year).

Import Prices by Country

The average wine import price stood at $X per litre in 2022, increasing by 2.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 14% against the previous year. As a result, import price reached the peak level of $X per litre. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per litre), while the price for Chile ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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