China, which is expected to become the world’s second most valuable market by 2020, will represent 72% of worldwide wine imports growth.
By 2020, China is expected to surpass the UK to become the world’s second most valuable wine market after the US. This will make China a main driver for the global wine market shift as consumption growth in the next few years will be mainly coming from China-led Asia pacific countries and the US.
The quality of China’s domestic wine is gradually improving, spearheaded by some small boutique wineries mainly located in Ningxia, Xinjiang and Shanxi in northwestern China.
In addition to the two countries, Canada and Japan are identified by the trade organisation as two “exciting markets”. Russia’s prospects, on the other hand, are unpredictable and challenging.
New markets such as Nigeria, Ivory Coast and Namibia could unlock potentials for producers, especially for volume growth.
Meanwhile, Europe will continue to slide in terms of wine consumption by volume though it still remains the largest wine consumer, accounting for about 60%, despite a projected contraction of 33.9 million cases by 2020.
