China Falls out of Top 5 Attractive Wine Markets List
Published By : 03 Aug 2015 | Published By : QYRESEARCH
While China has dropped out of the top five wine markets in the world, the United States has emerged as the most attractive wine market in terms of sales and marketing investments, states a recent research.
The research has found that even though the United States has a fragmented and convoluted distribution structure, it continues to be the strongest wine market in terms of sales growth owing to its thriving economy and growing spending and consumption habits. The Wine Intelligence Compass Report 2015-16 ranks nations with the help of a combination of wine and economic market measures to determine the attractiveness of a region. These measures include sophistication of the supply chain and ease of doing business. The report indicates that there is a huge opportunity for people involved in ecommerce to make the most of the wine market.
Germany emerged as the second most attractive market for wine, mainly due to its overall economic performance and the size of its wine market. While China dropped to number six on the list of attractive wine markets, Japan and the United Kingdom reentered the top five with number three and number four slots.
The most surprising finding of the report perhaps was that China did not make the top five. The Wine Intelligence Compass Report 2015-16 indicates that the slip in China’s position is owing to the cooling off period of the imported wine market over the last two years. The overall economic performance has been slowed down and what makes it worse is the government’s anti-corruption drive that has discouraged the significant purchase of Bordeaux for gifting.
China is, however, expected to reenter the top five slot in the long term, Wine Intelligence said.
According to a new study, the slowdown in the Chinese economy and government austerity measures could prove to be beneficial to producers of mid-priced and entry level wines.