Monday, May 10, 2021
So, why has China gone off the boil?
There have been several reports over the past few years about the declining wine market in China. Indeed, wine production in China is currently listed as the 6th fastest declining industry in that country (Fastest declining industries in China by revenue growth (%) in 2021). So, it seems worthwhile to gather in one place some pictures of the situation, given that China has been the second largest wine market in the world (The wine market in China).
We can start with a look at the simple economics in recent years. Here is a graph of the estimated market size (in USD) over the past few years, from the IBISWorld industry statistics: