China expects to become the second-largest market for wine by 2021

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China Wine

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Despite the heavy beating Bitcoin has taken, the sentiment has not turned bearish, and there are still have too many articles being published on a weekly basis claiming that Bitcoin is going to surge to 100K and beyond.Do these experts ever bother to look at the charts before issuing such targets or do they do so after ingesting some toxic substance? We will never know the answer to that question, but what we do know is that in most cases they have no idea of how high or low the market is going to go. Is the Bitcoin Bull Market dead or just taking a breather?

China Wine Market: China Will Replace the UK soon

Evolving tastes of young consumers likely to expand sales to $23 billion in three years

China expects to become the second-largest market for wine by 2021, replacing the United Kingdom, as young consumers’ preferences are evolving, experts said.
“It’s a common phenomenon, also in developed countries, that when the economy does well, the low-alcohol beverage becomes more popular,” said Li Demei, a wine expert from the Beijing University of Agriculture.
Wine sales are rising as the post-1990s generation has been joining the workforce. The millennials tend to care more about their own feelings and physical condition, according to Li.

“Not long ago, the previous generation used to be seen in a common scene where people, either willingly or due to social compulsions, would sit around a table shouting ‘ganbei!’ (bottoms up) and urge each other to drink more, until everyone got dead drunk,” Li said. “Now, for the millennials, such things are unacceptable.” Read more

China Wine Market Expected To Replace The UK as Number 2

China is expected to overtake the UK as the world’s number two wine market in the next three years, according to a report by two leading wine industry research bodies.

Vinexpo and the International Wine and Spirit Research say China’s wine market is expected to bring in US$23bn in revenue by 2021 – equivalent to 192 million cases of wine.

The US tops the list of the world’s wine-drinking countries, with the UK coming in second and China ranking third.
China’s alcohol market is still dominated by baiju: a traditional grain liquor, usually around 52 per cent strength and drunk in rounds of shots as a toast at social gatherings.

But the millennial generation may change that, according to Li Demei, a wine expert from Beijing University of Agriculture. He says the country’s post-1990s generation is more health-conscious than older age groups – and less agreeable to being pressured into social drinking. Read more

Bordeaux, February 20th, 2018 – The upturn in the value of world wine consumption is set for a record global market value of $224.5 billion by 2021, forecasts Vinexpo/IWSR in its annual forecasts for the wine and spirits sectors.

A comparison of the ten years from 2011 to 2021 shows that the value of the world wine market will grow 40% to reach volume sales of 2.66 billion 9-litre cases. Driving the recovery are the USA and China, the world’s two most powerful economies, whose joint growth in wine consumption offsets declines elsewhere, notably in Europe.
Sparkling wine is forecast to grow by an average 2% year-on-year to 2021, driven predominantly by North America, but also showing strong growth in the UK and Asia-Pacific countries such as Australia, Japan. Those two countries helped to push sparkling wine in Asia-Pacific to a total value of $2.79 billion in 2016 for 9 million cases. By 2012 that figure is forecast to rise to $3.73 billion (15.8 million cases).

Prosecco will outstrip other major categories such as Champagne and Cava by 2021 when world Prosecco consumption is set to reach 40 million cases. In the UK, the world’s largest sparkling wine importer, Prosecco is an outstanding success. Nonetheless, the USA is expected to show the most growth in consumption of Prosecco by 2021, while remaining number two behind the UK. Read more

China Wine: China to replace UK as No 2 on global wine market list

China Wine

China Wine Market: China Will Replace the UK soon

China Wine Market Expected To Replace The UK as Number 2

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