Wajiu, one of the biggest wine importers in China, has confirmed the participation in the first China International Import Expo (CIIE). The event, to be held at the National Exhibition and Convention Center in Shanghai, was first announced by Chinese President Xi Jinping a year ago. He called it “a major policy initiative and commitment to open up the Chinese market.”
This is not the only upcoming wine fair for Wajiu. The leading B2B e-commerce wine trading platform in China takes part in various wine shows every year. In current circumstances, with rapidly evolving Chinese wine market, it is very important to keep up with this speed, and the speed of the Chinese wine market growth is indeed jaw-dropping.
As of November 2017, there are 52 million Chinese urban upper-middle class drinkers of imported wine according to the Wine Intelligence. Comparing to the 48 million in 2016, we can see that the amount of “wine lovers” in China is increasing rapidly. This is mainly due to the significant western influence in the major cities in China and also, due to the developing economy and the growing number of middle and upper-middle class Chinese citizens.
World wine consumption is set to reach a record global value of $224.5 billion by 2021, driven by the US and China, according to a joint report by Vinexpo and IWSR. In terms of volume, the world’s sales volume is projected to reach 2.66 billion liters by 2021, leading by China and the US.
Over the next five years, China is predicted to become the world’s second largest market for wine, behind the US. And Wajiu is leading the way in the Chinese wine market for the winemakers from all over the world. It’s now China’s largest wine importer by volume, importing 10 million liters in 2017. But it does not mean that the company is going to stop its growth, on the contrary, Wajiu is constantly updating its website and app, developing successful relationships with numerous wineries and implementing new customer service functions. More than just a traditional wine importer, the company offers logistics, warehousing, distribution and financial services, taking care of every step of the wine supply process: from wineries direct to wholesalers and retailers, and helping with the marketing and promotion of foreign wine brands after.