China imports less wine
European wine exports to China have dropped significantly, according to Eurostat's latest data.
Imports of Greek wine to the mainland fell by 76% from 2023 to 2024, while Hungarian, Portuguese, and French wines saw declines of 55%, 22%, and 13% respectively.
The figures highlight a continued downward trend in Chinese wine consumption, which has been waning for over a decade. After peaking in 2012, per capita wine consumption began to decline. By 2022, consumption had fallen to approximately one-third of its 2012 peak.
Despite the lifting of tariffs on Australian wine in early 2024, total export volumes remain at a 20-year low. Analysts point to shifting consumer preferences, economic pressures, and policy changes as driving factors behind the decline.
While Australian red wine exports to China surged from 1 million litres to 32 million in 2024, this recovery is far from pre-tariff levels. The slump in overall demand poses fresh challenges for European producers looking to re-establish footholds in the lucrative Chinese market.