Wine Production in China - Industry Market Research Report

Revenue for the Wine Production industry in China steadily increased pre-2013 alongside economic prosperity, rising household income and the gradual popularization of wine culture. These trends have helped enrich consumers' wine knowledge, stimulating wine consumption. In addition, the government has encouraged consumption of beverages with lower alcohol content, like wine. Since 2013, industry revenue has trended downward due to low industry output resulting from insufficient vineyards and Chinese consumers' drinking preference for Chinese alcohol. In 2023, industry revenue is set to decrease 8.5%, to $1.3 billion. Industry revenue is expected to fall an annualized 16.2% over the five years through 2023, due to declining demand from domestic and international markets, the impact of the COVID-19 pandemic, and the industry's low output and productivity. The Wine Production industry in China produces wine from grapes or grape juice. Industry products include dry red wines, dry white wines, sweet wines and specialty wines. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.