China Wine Imports Set to Grow
Lead exportor Denis Pantini, head of Nomisma Wine Monitor, says China’s wine market continued to grow at a steady pace in 2016, performing better than most major markets worldwide. China is the only country that “will keep running at a face pace,” he says. According to a new market study report produced by Bologna-based Nomisma Economic Institute, globally, other markets don’t look in as good shape as China. “After (the) year 2015, in which global wine imports grew by more than 10 percent in value, our estimate on wine purchases in the world’s first eight markets –accounting for almost two-thirds of imports worldwide — does not seem to show the same positive results,” states the study. China is experiencing a very positive outlook suggests Pantini. Compared to the same period in 2015, importation of foreign wine into the country has risen by over 19 percent between January and September in 2016. This is expected to take last year’s overall value to 2.2 billion euros. The study indicates that “the game in the Chinese market will have to be played more and more through brand and product positioning”. While the study reports Italy’s share of imports remains low in comparison to the main players of France, Australia, Chile and Spain, China’s importation of their still-bottled wines increased by 35 percent between January and September 2016, when compared to the same period in 2015. CWSA is seeing an increase in the popularity of Italian wines with key labels receiving CWSA Medals including Feudo Arancio, Farnese Vini SRL and Casa Vitivinicola Tinazzi, proving now’s the time to get yours in front of China’s most influential Buyers!