China market to hit US$ 19.5 bn by 2022 forecasts Vinexpo/IWSR report
- US$ 207 BILLION Global consumption of still and sparkling wine is forecast to reach by 2022 for total volume of 2.7 billion 9L cases, (Vinexpo/IWSR wine and spirits report).
- “DRINK LESS BUT BETTER” Driven by this trend, value outstripped volume growth across all regions. This is particularly evident in Asia-Pacific.
- CHINA WILL OVERTAKE FRANCE BY 2020 as the second most valuable market in the world for wine.
- US$ 19.5 BILLION is the predicted value the Chinese market is forecasted to hit by 2022.
- 90% OF CONSUMPTION is from locally made spirits account worldwide but international spirits are eroding this share, especially in China (baiju) and Asia-Pacific (cane, brandy and rum).
- ALL PREMIUM-PLUS SPIRITS are forecast to grow over the next ve years,especially in the USA and China.
The Vinexpo / IWSR report will be presented at a dedicated conference during Vinexpo Bordeaux.