That's why China's emergence as a wine-buying powerhouse has been a godsend for the industry. For each year of the last decade, Chinese wine consumption by volume surged roughly 25%, according to Vinexpo, a wine intelligence research company. (Its "China" data includes Hong Kong.) Except, that is, last year. Chinese wine consumption dropped 2.2% annually in 2013, says Vinexpo. The main culprits? Importers cite president Xi Jinping's anti-graft crackdown, says Vinexpo's Anne Cusson, as well the slowing of the Chinese economy.
Fine wine comes at a price in Asia, but there are plenty of buyers. Asian consumers have become a major factor in the global wine market, with China overtaking France and Italy last year as the biggest consumer of red wine. Now, customers in the region are getting more sophisticated, educated and diverse in their wine choices.
The strategic agreement between VATS Liquor and Constellation is anticipated to last for a few decades. Both companies will work to grow the marketplace share of the Robert Mondavi brand through Constellation's brand management expertise and VATS' vast distribution network and knowledge of the Chinese consumer
The announcement came on the eve of Chinese President Xi Jinping's visit to Europe. The ministry said in a statement that after six rounds of talks since November, Chinese and European wine industry groups signed a memorandum of understanding on Tuesday to "solve the dispute through cooperation".
Wine consumption in India is likely increase to 2.1 million cases by 2017, 73 percent higher than 1.21 million cases in 2013, said a survey today. Spirits consumption is also likely to increase in the next five years to 373.5 million cases, an increase of over 20 percent from 2013 level, said the study by Vinexpo.
Research and Development Trend of China Fruit Wine Market, 2014-2018 mainly conducts in-depth market survey on the status of fruit wine industry, analyzes market status, major problems of China's fruit wine market, business performances of domestic major enterprises, meanwhile offers suggestions for this industry, so as to make enterprises know this industry better and provide decision-making references for investors.
The body of Chinese billioniare Lam Kok, a 46-year-old tea magnate who sealed the biggest deal ever made by a Chinese national on a Bordeaux wine estate in December, has finally been recovered - two months after going missing in a helicopter crash.
Suntory Holdings Ltd. tried to cast aside any lingering doubts that its $13.6 billion acquisition of Beam Inc. is overpriced, saying it will successfully capitalize on the overseas brand recognition of the U.S. whiskey maker as it transforms into a global spirits player.
Vinexpo, a market research firm, lists China as the fifth largest wine-consuming nation in the world. And according to the Vinexpo - IWSR forecast, between 2012 and 2016 Chinese wine consumption will increase by 40% (or 858 million bottles)