Wine is expected to be the only major alcohol category to shrink in volume over the next decade, even as the global beverage alcohol market adds US$34 billion in value, according to new forecasts from IWSR.

China’s largest domestic wine producer, Changyu, faced tough questions from shareholders at its recent annual general meeting after reporting one of its worst financial performances in nearly two decades. Executives, led by general manager Sun Jian, offered a frank assessment of the company’s setbacks in 2024 and laid out a more restrained outlook for the year ahead.

Champagne sales across Greater China continue to face headwinds, but one category—low-dosage styles—is quietly gaining ground.

Following LVMH’s announcement of job cuts within its wines and spirits division, beer giant Budweiser has also confirmed workforce reductions across the Asia-Pacific region.

Award-winning French chef Daniel Boulud is set to open his first restaurant in Hong Kong next January, marking the culinary icon’s long-anticipated debut in Asia as the city’s fine dining sector faces new challenges from changing consumer habits and cross-border competition.

The 237-page report offers an in-depth analysis of regional dynamics and market opportunities across North China, Northeast China, East China, South Central, Southwest, and Northwest China. It identifies the top 100 wine importers currently operating in mainland China. This regional breakdown provides a clear picture of where market influence is concentrated—and how each part of the country is shaping the growth and transformation of wine consumption in China.