The forecast for China's wine production shows a steady increase from 2024 to 2028, growing from 2.146 million metric tons in 2024 to 2.2916 million metric tons in 2028. The year-on-year growth rates from 2024 to 2028 are small but consistent, indicating a stable upward trend. As of 2023, wine production was at 2.110 million metric tons, meaning the industry is expected to grow modestly over the next five years. The compound annual growth rate (CAGR) from 2024 to 2028 suggests a small but steady average annual increase in production.
Future trends to watch for in the Chinese wine industry include:
- Adoption of advanced viticulture techniques to enhance quality and yield.
- The impact of climate change on grape cultivation areas.
- Potential shifts in domestic and global demand influenced by changing consumer preferences.
- Government policies and tariffs affecting imports and exports.