The great Chilean ambassador. Wine has a great challenge for the years ahead. The potential of Premium Chilean wines is enormous. China is a fast growing market for imported wine. In 2017, wine imports from that country increased by 17% in volume and in value increased by 18%.
Due to the growing income of the population, today the opportunity to build a high-end wine brand is ideal in China. This country will be the only place for premium wine for the next 10 years, it is the market of the future for the high-end segment, and Chile can not pass up that opportunity, it can not be left behind. Chilean wines are entering a phase of development, people already know their quality, but to convey that and conquer China’s giant market, the industry necessarily has to invest more time and resources there.
China has 10 years of opening to world trade, it is a market that is just learning, starting to know the world’s wines and is totally open and interested in knowing the best wines. Unlike Europe or the United States, which are more mature and consolidated markets and, therefore, it has cost Chile a lot to build an image there and change it, because they already had certain preconceived ideas. China offers a fantastic opportunity to get known from the quality, with good image.
The level of wine consumption of the Chinese market per capita is very low, of less than one liter per inhabitant, so there is a gigantic potential to grow, but we must go out and conquer it in the best way.
Chile exports some US $ 1,800 million and China has already become the number one destination for Chilean wine. Chile exports globally at an average price of US $ 27 per box, a value that has not changed in the last 10 years. In China, the French, who dominate the market, export from US $ 1,000 the box, from there up. China, increasingly, for a matter of purchasing power, is having greater demand for high-end wines. There is a very large market and Chile could perfectly aspire to sell on average at US $ 50 a box, which is the value sold by New Zealand. It could double the current average price.
Chile must believe that it can compete in premium wine leagues. And that is what you have to try to change. Now, we must bear in mind that fine wine is something very recent in the world, which started 50 years ago, and in this reality, the first ones that were recognized are those from Bordeaux.
In the case of Chile, it only started to export from the year 90, before that, everything it produced was sold in the domestic market. Chile was the last to arrive at the world amphitheater of wine, but in spite of that, it has everything to be in the first line: quality and is having recognition. There is no technical justification for Chilean wine, with the quality it has, worth less than its competition.
In 28 years Chile has improved quality tremendously. Today world-class wines are produced and there are all the elements to keep improving: winemakers of excellence, with worldwide experience; winemakers with international vision and world class infrastructure.
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