New Zealand is hoping to take their piece of the Chinese wine market pie, according to one Canoe Travel report. Backed by government funding, New Zealand wine makers will take major steps towards promoting and marketing their wines in China during the coming year.
Just last month, President Obama and the White House announced an initiative to partner with the Hong Kong government in order to promote and bring increased exposure of United States wine to the Chinese.
New Zealand and the United States certainly aren’t alone in recognizing the expected rapid growth of the Chinese wine market. The May 2010 Vinexpo Asia-Pacific, far and away China’s largest wine and spirits exhibition, saw a 43% increase in attendees over the year prior. An astounding 35 countries wines were represented by just shy of 1,000 different exhibitors. With so many different wine regions clamoring to cash in on the newfound interest in wine by the Chinese, only one market has yet to strike gold: Bordeaux.
Bordeaux’s allure for Chinese collectors lies in its price tag. Speaking with Debra Meiburg recently, an American-born Master of Wine living in China, I gained serious insight into the mindsets of wealthy Chinese collectors. Paraphrasing Meiburg, the reason that the Chinese have a taste for Bordeaux is not due to its quality, history, or critics scores – its due to its astronomical price tag.
Thankfully for Bordeaux vintners outside of Lafite, Latour, and other big names, it seems that a trickle-down effect has begun to occur. According to Jing Daily, just last year, China overtook the United States as the largest market by volume for Bordeaux wines.
With a growing economy, an emerging middle class, and a continued attraction to Western Culture, China could be the perfect place for a number of wine regions looking to unload wines during a tumultuous global economy. What remains to be seen is if the United States, New Zealand, or anyone else outside of Bordeaux can establish themselves as the “next big thing” in China.
