Huge Increase in Chinese Wine Consumption Driving Industry Growth
on 23/12/10 at 10:58 amIndustry
The alcoholic beverages sector in China, which grew at a compound annual growth rate (CAGR) of 8% during 2004 to 2009, recorded volume sales of 47 billion liters in 2009. Sectoral growth has been fueled by factors such as increased disposable income and better availability of international alcohol brands. Wine, with a 32% growth over 2008 to 2009, was the primary fueling factor in the sector’s growth in the year.
With the exception of spirits market, the alcoholic beverages sector is highly concentrated with more than 80% of the market being controlled by the top 10 players.