China is becoming one of the top three wine-consuming countries in the world, with imports from Australia growing by nearly 150%, according to the latest National Australia Bank (NAB) Agribusiness Rural Commodities Wrap. Wine imports to China from Australia have grown by 144% in the past give years.
The growing middle class and desire for luxury products make China currently 5th in the world in total wine consumption. China is on track to catch up with Germany and Italy to become one of the top three wine-consuming countries within the next few years, it reports.
From 2007-2012, imports to China from Australia grew by 144% by volume.
China is already the world’s biggest market for red wine at 1.87 billion bottles in 2013. Chinese demand particularly drives growth in the sales of Australian wines at the premium end of the price spectrum, or above A$10/litre.