China Named Biggest Importer of Australian Wine
China’s rapidly growing wine market has reached new heights overtaking the United States to be named the biggest importer of Australian wine. Driven by a cultural interest in drinking amongst China’s affluent millennials and middle class, the import business has boomed with a 50 percent growth this year ending in September. According to the organisation representing Australia’s wine producers, China has imported an incredible A$474 million (HK$2.8 billion) over the course of the year. Statistics from Wine Australia state during this period, the value of bottled wine increased by a healthy 48 percent. Cheaper imports sold by the litre also grew substantially by more than 60 percent. “We’ve seen awareness of Australian premium wine improve along with dramatic increases in wine consumption, nascent consumer awareness and interest in wine and wine culture,” said chief executive Andreas Clark. The popularity of Australian wine is good news for the region’s wine producers who are looking to join the thriving market.