Stat: Young adults in China are buying more wine

China – A report by consultancy GlobalData reveals that Chinese Millennials and Gen Z have a new-found taste for wine, consequently reshaping the local wine market by wielding their considerable purchasing power to satisfy their cravings.

Consumption habits evolve at lightning speed in China and can snowball on global markets. Youth’s increased interest in wine is driving the market’s growth, set to soar by 72% by 2026 to reach £55.2bn (Rmb462.4bn, $63.5bn, €64.1bn). In comparison, the entire Asia-Pacific wine market is expected to grow by 43% in the same period.

‘Wine is becoming a popular alcoholic drink among Chinese consumers, owing to its perceived health and beauty benefits, and the influence of Western lifestyle habits,’ explains Bobby Verghese, a consumer analyst at GlobalData.

China has traditionally been a large market for high-end wine and the revival of young people’s interest in wine opens up new opportunities. Now is a good time to ensure that wine branding resonates with younger demographics, and that retailers and wine-makers are using the right communication channels to reach their targeted customers.