The Chinese wine market: foreign and domestic
A glance at the Chinese wine market and how it looks for foreign and domestic producers
However, it is also a difficult market to break, with legislation, tax and consumption trends all providing obstacles that suppliers need to overcome.
IWSR's China Wine Market Report 2012 also identified an "invisible" market in
The report warned that although more wholesalers are entering the market and capitalising on its potential, many lack experience.
Still, the French have managed to penetrate
In an interview with AFP, Mr Oznam revealed that Asia in general is a strong market for French winemakers, with UMVin representing the producers of 70 per cent of the wine output in
Discussing wine prices, the expert said it was a case of "wait and see" before altering the costs Asian consumers will pay for a French bottle.
"The current climate certainly won't encourage anyone to put their prices up without first knowing what the demand is like," Mr Oznam told the AFP in relation to global pricing.
Interestingly, the importance high-end consumers in
Angelus has been featured in 30 movies, including 2006's 'Casino Royale', helping to drive up the prestige and popularity of the wine.
The label features a bell, which is a valued symbol in Chinese culture, making Angelus "a cult wine for the new business elite" Mr de Bouard told the AFP.
One question arises over domestic production - will Chinese winemakers build up more pace on home ground?
A recent report by Bloomberg Businessweek addressed this issued and uncovered the attitude Chinese consumers tend to have towards wine.
Thirty-six-year-old Emma Gao is a winemaker at
She told Businessweek: "Here, people think a good wine shouldn't give you a headache the next morning."
"Before, people would just buy wine to show off, but that's changing. Younger Chinese are drinking it at home," he told the news provider.
Estimates from the China Daily indicate that
Currently, imported wines make up about 25 per cent of the Chinese market, research from Haiguan.info revealed, with
Earlier this year, Changyu Pioneer Wine announced plans to fork out as much as $950 million (£586 million) on a "wine city" in the
With those kind of expansion plans in the works, it seems Chinese producers are attempting to fend off the advances of foreign companies, with Rising Securities analyst Zhang Zhiang telling the China Daily overseas wines would "eventually" make up half of the Chinese market.
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