"In the next three years, according to estimates, China's wine industry will have a 10% growth, that is, nearly 20 billion yuan of market growth." Wine is going to have an incremental era." Wu Mingfeng, general manager of Penfolds China, the world's leading wine brand, said at the Guangzhou press conference.

Wu Mingfeng quoted a group of professional institutions survey data: in the Chinese wine market in 2023, the market share of liquor is 72%, the market share of beer is 20%, and the market share of domestic and imported  wine is only 3%. In terms of wine consumption, per capita wine consumption in mature markets is 24.6 liters, and per capita wine sales in the Chinese market is only 0.4 liters. In addition, the Chinese wine market is fragmented, "the lack of a strong head brand is an important reason for the weak growth of wine." Taking Chinese liquor category as an example, the market share of TOP10 brands is 66%, and other brands are 34%. In the wine sector, the TOP10 accounts for only 30 percent, and the remaining 70 percent is divided among more than 3,000 brands." Wu Mingfeng said.

Wu Mingfeng said that there are three major scenes of alcohol consumption in China, and in the family dinner scene of about 250 billion yuan, wine accounts for only 5%; In the business banquet scene of about 230 billion yuan, wine accounts for only 5%, while in the wedding banquet scene of 100 billion yuan, wine accounts for about 10%.

He believes that challenges come with opportunities. "The wine category is' consumption upgrade. '" Data show that in 2004, Chinese consumers spent 46 yuan to buy a liter of wine, and in 2023, Chinese consumers spent 106 yuan to buy a liter of wine, and consumption is on the rise.

The advantages of producing areas attract investment from giants

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