The latest figures on wine consumption published by the IWSR estimate that China will surpass France in terms of value by 2020.
According to the report published by the IWSR (International Wine and Spirit Research), in 2020, the international wine market will reach a total value of 207 billion dollars, while volumes will reach 2.7 billion cases of nine litres. As value grows more quickly than volume – an estimated increase of 2.15% between 2017 and 2022 – reflects a general global tendency to drink less but of better quality. This trend is felt particularly in America and the Asia-Pacific region.
The American market continues to grow, with a value of 34.8 billion dollars in 2017 compared to 16.7 billion dollars in France. As regards China – which in 2017 spent a total of 16.5 billion dollars on wine – according to the IWSR, this market will follow the same trajectory, exceeding 19.5 billion dollars in 2022. This is in spite of a slowing down of the Chinese economy in early 2019.
Here in France, we are always interested to learn more about wine consumer trends and tastes in China, a nation known for its proclivity to fine wine. We were therefore intrigued to find out which wines would be served during Xi Jinping’s state visit to Paris earlier this week: a Montrachet Grand Cru « Marquis de Laguiche » 2011 (Joseph Drouhin), a Petrus 2002 and Pol Roger’s “Cuvée Sir Winston Churchill” 2000… a very nice selection, indeed!