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China Sees First Rise in Wine Imports Since 2018

China Sees First Rise in Wine Imports Since 2018

Global wine consumption drops to record low/ Chinese-owned Napa Winery loses over RMB 100 million/The story of iBarrel

Natalie Wang
April 30, 2024

Hi, this is Natalie from Vino Joy News.

Last week, Chinese customs released the highly anticipated Q1 import data. We have compiled and released a comprehensive report analyzing bottled wine, boxed wine, bulk wine, and sparkling wine imports, along with the movers and shakers among the top 10 countries of origin. This is a report you definitely won't want to miss.

Additionally, the International Organisation of Vine and Wine (OIV) has released its annual report, which raises alarms for our industry, as global wine consumption has dropped to a record low—the lowest since 1996. We are also closely monitoring the spring frost in Europe, which is a concerning development.

Focusing more on China-specific news, Napa’s Maxville Winery, owned by a Chinese listed spirits company, has suffered a loss of over RMB 100 million over seven years. However, for wineries and merchants looking to find some optimism and opportunities in the market, there are plenty of lessons to be learned from iBarrel, a wine bar/bistro that has thrived despite the pandemic and lockdowns.

Lastly, I am organizing and hosting a panel discussion during upcoming Vinexpo Asia on May 29. I thought long and hard about who to invite for the panel, and couldn't be happier about the star-studded lineup. Be sure to sign up here.

Detailed Analysis of 2024 Q1 Customs Data: China Sees First Rise in Wine Imports Since 2018

We have compiled the latest customs data and highlighted a few of the key changes:

For the first time since the second half of 2018, China’s imported wine market has shown signs of recovery.
Looking at the source of imports, we can see even though Australian wines were allowed in China effectively from March 29, within the last two days of Q1, we saw explosive influx of Australian wines mainly stored in bonded areas, HK and Macau.
Italian prosecco is booming as the data shows.
Bulk wine imports surpassed bottled wines in month of March, quite unprecedented.

Click the link below to see our full report and analysis below.

Global Wine Consumption Plummets to Lowest Since 1996

Global wine consumption has hit its lowest record ever since 1996 to 221 million hectoliters, down by 2.6% over 2022, as a result of inflation and high production costs, according to the latest data released by International Organisation of Vine and Wine (OIV).

Chinese-owned Napa Winery Suffers 7-year Loss of over RMB 100 Million

A 50-year-old Napa winery owned by Qinghai Huzhu Barley Wine Co., Ltd., a publicly traded Chinese company, has been suffering seven straight years of losses, totalling more than RMB 100 million (US$13.8 million), according to the latest financial report released by the parent company.

Meet iBarrel: The Wine Bar That Defied China’s Nightlife Industry Downturn

Since 2023, China's nightlife scene has faced unprecedented challenges, with numerous establishments shuttering their doors. Amidst this downturn, iBarrel, a pioneering wine bar launched by a Shanghai-based tech company in 2015, has defied the odds.

Penfolds Awarded RMB 1 million in trademark lawsuit

In a win for popular Australian wine brand Penfolds, the Xiamen Intermediate People’s Court in Fujian Province has ordered two trading companies to pay RMB 1 million (US$145,000) for infringing the trademark of Penfolds, according to a recent court document.

Spring Frost in France Causes Up to 90% Reduction in Vineyard Yields

Frost has severely impacted vineyards throughout France, leading some winemakers to estimate a 90% reduction in this year’s yield.