CITIC Securities published an article stating that in the past 20 years, the Chinese wine market has experienced a complete cycle of “boom, decline, and restructuring.” Currently, China's wine market is about 70 billion yuan, and major domestic players are showing development characteristics where sales have bottomed out and prices have quietly been optimized. Looking forward to the future, CITIC Securities believes that the main consumers and channels in the industry are quietly changing. Consumers are becoming more mature, rational, and understanding of wine, so leading companies will need to be more capable of market operations, product development, and channel reach, and demand for product categories will also be more diverse.

CITIC Securities published an article stating that in the past 20 years, the Chinese wine market has experienced a complete cycle of “boom, decline, and restructuring.” Currently, China's wine market is about 70 billion yuan, and major domestic players are showing development characteristics where sales have bottomed out and prices have quietly been optimized. Looking forward to the future, CITIC Securities believes that the main consumers and channels in the industry are quietly changing. Consumers are becoming more mature, rational, and understanding of wine, so leading companies will need to have more market operation, product development, and channel reach capabilities, and demand for product categories will also be more diverse.