This is a significant increase from only a decade ago when Australian wine exports to China were valued at just $27 million. And Adam O'Neill, International Executive Director of Negociants, one of Australia's leading importers of fine wines, said the demand for premium wines in China shows no sign of abating.
"The rapidly maturing palate of consumers and the ability to reach them through online platforms such as TMall has us confident that this growth will continue, particularly at higher price points," O'Neill said.
TMall is a Chinese website for business-to-consumer online retail and has become one of the most popular for suppliers.
Other contributors to this growth, according to Wine Australia, include the China-Australia Free Trade Agreement and the growing Chinese middle class' increased interest in wine. The report shows that this demographic are choosing to drink imported wines more and more often.
A number of Australian suppliers have also begun to forge relationships with importers and distributors located in China.
O'Neill added, "Our newly formed partnership with ASC Fine Wines and Yalumba allows us to continue building a sustainable trade footprint with sommeliers and fine wine retailers and focus our efforts on education and brand awareness in conjunction with Wine Australia’s key programs.
"It’s certainly an exciting time for the Australian category."
Shortly behind China is the US, as Australia's second largest export market. Australian wine exports to the US are now valued at $448 million following a 4 per cent increase in growth last year. According to the report, this has been driven by the total value of bottled exports to the country, up by 5 per cent to $393 million.
Australia's third largest export market, the UK, fell by 3 per cent to $361 million in the last year. Wine Australia said the decline was a result of an 11 per cent decrease in exports below $2.50 per litre.
Despite this, the UK continues to be Australia's most significant market in terms of volume.
Wine Australia CEO Andreas Clark said that the organisation will continue to support the grape and wine community through global marketing campaigns and events, research initiatives, market insights, and regulatory assistance.
"These activities all remain guided by our overarching strategic priorities to increase the premium paid for our wines and our global competitiveness," Clark said.
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