A new report has revealed the increasing popularity of fine wine over the past decades, highlighting growth of 234% from Q4 2004 to Q4 2014, according to Knight Frank’s Luxury Investment Index. Global demand for fine wine has increased significantly in recent years, particularly in China.
How important Chinese wine market to multinationals?
China will become a key Consumption Market. It is predicted that wine sales in China will grow by 39.8% in the next three years, leading the country to become the world’s second largest wine market after the US.
With consumption upgrading, Chinese new consumer groups with distinct personalities have a more comprehensive and refined market segmentation demand for regions, varieties and even packaging of wines. They have a preference for premium wines and awarding wines.
Under such itstances, Interwine Beijing Premium Wine & World Awarding Wine Fair emerged at the right moment.