China’s Wine Market Bubbles, But Not With Champagne
China’s Wine Market Bubbles, But Not With Champagne
Mar 8, 2013 6
(WSJ) - The West may toast birthdays and weddings with Champagne, but China still hasn’t found a taste for the bubbly, a new study finds.
China, including Hong Kong, is the world’s fifth-largest wine market, and its thirst for wine is on the rise, according to the report released by wine-trade fair Vinexpo and compiled by International Wine & Spirit Research. Chinese drinkers consumed 159.3 million 9-liter cases of wine in 2011, representing a 142% increase from 2007. What’s more, the IWSR forecasts growth to increase by another 40% over the next three years.
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