The success of the WBWE Asia clears the way for new business opportunities in China
May 31, 2019
Having almost 4,000 professional visitors from 35 different countries indicates the success of the 1st WBWE Asia, an event that positions Yantai as the city for the wine business in China.
In a country that has the potential to become the largest wine consumer worldwide, participants from Argentina, Australia, Belgium, Benin, Bulgaria, Canada, Chile, China, Comoros, Equatorial Guinea, France, Georgia, Germany, Hong Kong, India, Italy, Japan, Macedonia, Malaysia, Mongolia, Nepal, New Zealand, Philippines, Portugal, Romania, Slovakia, South Africa, South Korea, Spain, Sweden, Taiwan, the United States, Ukraine, the United Kingdom and Uzbekistan have shared two days of business deals, purchases, debate and future prospects.
Over 200 producers from 20 different countries took part in the fair, and some of them have confirmed the closure of contracts during the event. This was a very positive launching for the WBWE Asia, which aims to become the major international business focus for large wine volumes.
The fair represents 55% of the supply of the international bulk wine trade. Taking into account that approximately 38 million hectoliters are sold globally, this figure gives some idea of the importance of this event for the Asian market.
Global purchases of bulk wine in China to be bottled in destination have shifted from 31 million liters in the year 2000 to 176 million liters in 2018. This indicates that, after many years of growth, the Chinese wine market has matured enough so the leading international operators can consolidate their business relationships in Asia.
The WBWE Asia was conceived thanks to the support of the largest world producers who firmly boost this fair, designed by the same company that created in Amsterdam the first-ever event devoted to the trade of large wine volumes worldwide. Ten years ago, the WBWE begun to enhance the transparency of and to dignify a market that moves around 38% of the world’s wine sales.
After the success of the 1st WBWE Asia, Yantai consolidates itself as the city for wine business 80% of the international purchases of bulk wine in China are being carried out via the port of Yantai; and this is one of the reasons that has lead the WBWE to choose this city to organize the first-ever fair devoted to large wine volumes in the Asian market.
WBWE Asia arrives at the great moment for the professionalization of the wine market in this continent and in the city that will be leading this industry. Yantai has the opportunity to lead the wine business for the whole Asian market; it is the city of wine, the biggest port of entry and as from now, it is also the place where the biggest event devoted to the wine business in Asia takes place: the WBWE Asia.