This week, we delved into the intriguing downturn in wine consumption across both Europe and China, two markets that represent the traditional and emerging landscapes of the wine industry. According to the OIV, European wine consumption reached its lowest point in 70 years in 2023, as the younger generation increasingly favors low-alcohol and non-alcoholic beverages, leaving wine feeling somewhat outdated in the birthplace of wine culture.

In China, where wine is typically viewed as a new and imported item, the decline in consumption is largely attributed to a broader trend of consumption downgrading. This has been particularly harsh for the fine dining industry, resulting in the abrupt shutdown of the Camel Hospitality Group in Shanghai. Two of China’s biggest wine importers have spoken to us and revealed they were owed unpaid debts from the Australian-owned restaurant group.

In the realm of wineries, only one Chinese winery was featured in the World’s Best Vineyards 2024. However, Treasury Wine Estates (TWE), the Australian wine giant, recognized the potential of Chinese wineries and acquired Ningxia’s Stone & Moon Winery Co., Ltd. for US$17.9 million.

Across the straits in Taiwan, sparkling wine in particular is gaining popularity. This attracts beer giant Heineken to introduce its non-beer drinks into Taiwan.

In Hong Kong, the 16th Cathay Hong Kong International Wine & Spirit Competition has released its results. Australia emerged as the biggest winner, and certainly you don’t want to miss the best of wines, spirits and beers in Asia. 

In other acquisition news last week, Coterie Holdings, a UK-based holding company founded in 2023 and focused on wine, purchased Global Wine Solutions, a fine wine supplier for yachts.

It is also worth noting that, for the first time, China used extradition in a wine smuggling case, bringing back the mastermind of a smuggling group after he had spent three years on the run.

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World’s Best Vineyards 2024 Revealed: Here’s The Only Chinese Winery On The List

World’s Best Vineyards 2024, organized by the team behind the World’s 50 Best Restaurants and Bars, has been unveiled, and here's the story of the only Chinese winery made it onto the list.

Australia Leads HK IWSC 2024 Awards

Coterie Holdings Acquires Global Wine Solutions

Treasury Wine Estates Bets Big on China with $18M Stone & Moon Winery Acquisition

Situated in Qingtongxia in the Ningxia Hui Autonomous Region, the winery produces several grape varietals, including Cabernet Sauvignon and Marselan. These grapes have already been used by TWE’s flagship brand, Penfolds, for its China-origin wines.

Shanghai’s Foreign Restaurant Group Collapses, Owes Thousands to Top Wine Importers

A foreign-owned restaurant group operating more than ten upscale restaurants and bars in Shanghai has abruptly shut down, citing financial difficulties and leaving behind unpaid debts to landlords and suppliers, including two prominent wine importers listed among China’s Top 50 Wine Importers.

Wine Smuggling Ringleader Extradited to China After 3 Years On The Run

European Wine Consumption Hits 70-Year Low, OIV Reports

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