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The Chinese wine market has been slowing since 2018 due to a slowing economy and U.S.-China trade war. The pandemic has greatly complicated this situation.

The imported wine dropped by 27% in value to US$1.95bn last year, according to customs data. This is a sharp decline for the second year in a row: the accelerated growth that we have seen in the past seems to have come to an end. It should be noted that compared to domestically-produced wine, imported wine grew markedly from US$2.03bn in 2015 to 2019’s US$2.43bn – even allowing for the distorting effect of the pandemic it was still growing up to 2020.

Domestically-produced Chinese wine - mainly from the country’s two biggest producers, Changyu and GreatWall Wine – has traditionally dominated the market but the balance has now changed. According to CADA, imported wine has overtaken Chinese wine to be the main category consumed within the country, taking up 60% market share in terms of volume.

Domestic wine production has been on a downward spiral for five years: 2020 production was less than half that of 2016. Data compiled from the country’s 155 leading wineries showed that sales revenue plunged from RMB46bn (US$7.14bn) in 2015 to RMB14.5bn (US$2.25bn) in 2019, according to China Alcoholic Drinks Association.