The rapid increase of domestic demand in the past decade has attracted many foreign enterprises into the Chinese wine industry.
(PRWEB) November 16, 2011
Revenue for China’s wine producers is expected to increase at an annualized rate of 10.8% in the five years through 2016 to reach US$10.46 billion, driven by increased domestic demand. The purchasing power of Chinese consumers will continue to increase, especially in urban markets. Western culture will also continue to be accepted by more Chinese and will further increase wine demand, according to IBISWorld, America’s largest publisher of industry research.
Domestic demand has grown rapidly in the past five years, and this rapid growth has attracted many foreign enterprises into the Chinese wine market. Import tariffs were reduced from 2002 onward, which greatly stimulated import growth. The government also issued policies reducing the domestic excise tax of imported wine.
Wine culture promotion will become an important method of competition in future years, according to IBISWorld. Many enterprises, especially large domestic and foreign enterprises, expect to promote their sales and increase their brand image by building and developing wine culture in various regions in China.
For more information, including profit growth, market shares and market segmentation, visit IBISWorld’s Wine Manufacturing in China report
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The Wine Manufacturing industry in China comprises establishments that manufacture wine by using grape or grape juice as the raw material. Products manufactured by this industry include dry red wines, dry white wines, sweet wines and specialty wines.
Wine Manufacturing in China Industry Report -- Key Topics
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on 200 Chinese industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.cn or call 1-800-330-3772.