LIWF 2012 - CHINA: Chinese wine market boom to continue - report
China will continue to dominate growth in emerging market wine sales over the next five years, according to Euromonitor International.
China is set to account for 90% of the rise in wine volume sales across the so-called BRIC nations – Brazil, Russia, India and China – up to 2016, according to Euromonitor figures. Wine sales in China will rise by 17% per year over the next five years, the market research group has forecast.
“80% of the gains in China will be for red wine,” said Euromonitor researcher Spiros Malandrakis, who delivered a snapshot presentation on emerging wine markets at the London International Wine Fair conference yesterday (21 May).
Malandrakis told attendees: “Consumers in the West are chronically unemployed and getting old. Consumers in the BRICS are young and aspirational, and the gap is getting wider.”
Other non-BRIC countries pegged for strong wine volume growth in the next five years include Nigeria, Ukraine and Poland, he said.
- Six key trends for alcoholic drinks in 2016
- Aus wine industry pays price for past failures
- Ten things to know about spirits in the US
- What's in store for Super Bowl 50 - Focus
- Will value-sharing in Travel Retail become reality
- SABMiller hits back in UK corporation tax row
- William Grant & Sons restructures US team
- Diageo's Orphan Barrel The Gifted Horse - NPD
- American rye whiskey sales leap 600% in five years
- Moet Hennessy sees China rebound in strong FY
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global Whiskey Market 2016-2020
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research