Wednesday, 18 October 2023

China: Forecasts for alcohol consumption in 2024

Written by Redazione

Chinese consumers’ alcohol beverage preferences, much like those of their peers elsewhere, are changing.

Although IWSR predicts that alcohol consumption in China will fall by 0.4% annually from 2022 – 2027, it expects that rising interest among Chinese consumers in ultra-premium, higher-priced beverages (including beer, sparkling wines, and whiskies) will cause the value of that market to increase by $41.7 billion during those years. Strong interest in sustainable wines and imported wine options were also predicted.

Notably, single malt Scotch whisky has grown strongly, with an increasing number of consumers opting for it on a regular basis. According to IWSR, half of single malt enthusiasts are now consuming the drink more frequently, and four out of every 10 express willingness to spend more on each bottle.

Shirley Zhu, research director for Greater China at IWSR, highlights the evolving preferences of Chinese consumers, who are becoming more sophisticated and discerning, seeking higher-quality beverage alcohol products. 

In response to evolving consumer preferences, businesses in the industry have been doubling down on digitization. Additionally, international spirits and wines groups are also getting closer to local consumers. 

More information here:

Aceto Balsamico di Modena Igp protagonista della seconda tappa del progetto di valorizzazione dei Consorzi di tutela

29-11-2023 | News

Secondo appuntamento del ciclo di incontri itineranti organizzato da Origin...

Uk to freeze alcohol duty until 1 August 2024

28-11-2023 | News

In the Autumn Statement, Chancellor Jeremy Hunt announced a freeze...

Japan Proposes GI Protection for Single Malt Welsh Whisky from UK

28-11-2023 | News

Japan’s National Tax Agency has reportedly proposed to recognise Single...

EU-New Zealand: final green light to free trade agreement

28-11-2023 | News

The Council today adopted a decision on the conclusion of...

Conegliano Valdobbiadene Prosecco Docg, meno vendite estere ma più valore

15-11-2023 | Studi e Ricerche

Il Consorzio di Tutela del Conegliano Valdobbiadene Prosecco Docg ha...

Singapore recognizes Doc Prosecco

14-11-2023 | News

Singapore has officially recognized the geographical indication of the Prosecco...


   Via Mentana 2/B, 00185 Roma
   C.F. 01719400580



Iscriviti alla newsletter per ricevere le news del portale Federvini.

Follow us


Please publish modules in offcanvas position.