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Willamette Valley Vineyards Inc. Message Board

  • networthdev networthdev Mar 25, 2013 8:22 AM Flag

    WSJ, "China as a Vast Wine Market"

    How does that song go, "We've Only Just Begun" :-)

    Google WSJ article, "China as a Vast Wine Market" if interested in complete story.

    So much opportunity to grow into, and Oregon is still mostly selling into JUST Oregon. We still have the USA, and so many other places to GROW into, and NOW the HUGE Chinese market is developing. Life is good.

    "China's wine market has exploded in recent years, spurring major competition among winemakers who have flooded the market and are now looking to differentiate themselves. Sales of wine reached 257 billion yuan, roughly $41 billion, in 2012, up 20% from a year earlier, according to research firm Euromonitor International.

    But wine consumption per capita in China is still a fraction of that in other countries. Chinese drinkers consumed only 1.4 liters of wine per person in 2011, far below the French average of 53.2 liters per person, according to the most recent data from London-based research company International Wine & Spirit Research. It predicts China's per capita consumption will increase to 2.1 liters per person over the next three years.

    Mr. Dearie said higher-quality import wines are often given as gifts between businessmen to be stashed away rather than swilled. And while Treasury is rolling out some of its priciest wines to be used as gifts, the company hopes that with wine bars or restaurants it will encourage actual consumption of the wine."

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