A Shenzhen-based research firm published a report showing that the country’s wine imports suffered a year-on-year decline of 13% in volume in January and February.
Import value during the period fell by 10%.
In 2018 China’s overall import volumes dropped by 8.95%. The wine market in China in 2019 is unlikely to see significant growth, a shared feeling among wine importers.
The slowing economy and the ongoing trade war with the USA are expected to continue to affect market sentiment and consumer spending in the coming year.
The leading wine importer in Greater China has set a “conservative” target for the year.