China seemed to be well on its way to becoming one of the largest wine-producing countries in the world, but new figures show that both wine production and wine consumption in China are in free fall.
Text: Ingrid Larmoyeur | Image: Sergey Reikin via Unsplash
China's wine consumption peaked in 2017 and plummeted by 71% since then. Wine production even collapsed by 84% since its peak in 2012! What happened?
Younger Chinese consumers opted en masse for beer, whisky or baijiu instead of wine as the economy slowed and purchasing power came under pressure. Strict anti-corruption campaigns also restricted luxury gifts and fancy banquets - the very places where expensive wine was often served. On top of this came the corona pandemic, which brought hospitality sales and celebrations to a standstill.
Meanwhile, Chinese wine producers faced quality problems and stiff competition from imported wine. Many winemakers gave up, or switched to more lucrative farming. And where Chinese investors used to buy prestigious Bordeaux houses as status symbols, they are now actually putting them up for sale again. Interest there is also levelling off.
The result? Less Chinese wine in the glass - and a major growth market worldwide that has shrunk sharply.
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