Key Market Indicators
China's wine consumption is projected to hit 2.89 million metric tons by 2028, rising from 2.78 million metric tons in 2023. This marks an annual compound growth rate (CAGR) of 0.6%. Notably, since 2019, the country's demand for wine has grown by 0.9% each year. In the global ranking, France, the United States, and Italy occupy the second, third, and fourth spots, respectively. On the production front, China's wine output is expected to reach approximately 2.29 million metric tons by 2028, up from around 2.11 million metric tons in 2023. This represents an average annual growth rate of 1.3% in production. Since 1983, Chinese wine supply has seen a yearly increase of 1.9%. In 2023, China was ranked fifth in production, with the United States surpassing it at roughly 2.11 million metric tons. France, Spain, and the United States hold the second, third, and fourth positions, respectively, in global wine production rankings.
