Asia: Wine Market 2024

Wine Market Size in Asia

The Asian wine market shrank modestly to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Wine Production in Asia

In value terms, wine production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Wine Exports

Exports in Asia

In 2022, exports of wine and grape must in Asia skyrocketed to X litres, surging by X% on the year before. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, wine exports expanded notably to $X in 2022. Over the period under review, exports showed a measured expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Georgia was the main exporter of wine and grape must in Asia, with the volume of exports reaching X litres, which was near X% of total exports in 2022. It was distantly followed by Israel (X litres), Singapore (X litres) and Thailand (X litres), together generating a X% share of total exports. Uzbekistan (X litres), Armenia (X litres), Hong Kong SAR (X litres), Azerbaijan (X litres) and Turkey (X litres) followed a long way behind the leaders.

Georgia was also the fastest-growing in terms of the wine and grape must exports, with a CAGR of X% from 2012 to 2022. At the same time, Armenia (X%), Israel (X%), Thailand (X%), Turkey (X%) and Singapore (X%) displayed positive paces of growth. By contrast, Azerbaijan (X%), Hong Kong SAR (X%) and Uzbekistan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Georgia, Israel, Uzbekistan and Armenia increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wine supplying countries in Asia were Singapore ($X), Hong Kong SAR ($X) and Georgia ($X), with a combined X% share of total exports. Thailand, Israel, Armenia, Turkey, Azerbaijan and Uzbekistan lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Armenia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per litre in 2022, which is down by X% against the previous year. Overall, the export price showed a perceptible decline. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The level of export peaked at $X per litre in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per litre), while Uzbekistan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Wine Imports

Imports in Asia

In 2022, wine imports in Asia contracted to X litres, flattening at 2021 figures. Over the period under review, imports, however, continue to indicate a slight expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X litres in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, wine imports reached $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X litres) and Japan (X litres) represented roughly X% of total imports in 2022. South Korea (X litres) held the next position in the ranking, followed by the United Arab Emirates (X litres). All these countries together took near X% share of total imports. Hong Kong SAR (X litres), Singapore (X litres), Malaysia (X litres), Taiwan (Chinese) (X litres), Kazakhstan (X litres), Thailand (X litres), the Philippines (X litres) and Israel (X litres) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wine importing markets in Asia were Japan ($X), China ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. Singapore, South Korea, Taiwan (Chinese), the United Arab Emirates, Malaysia, Thailand, Israel, the Philippines and Kazakhstan lagged somewhat behind, together comprising a further X%.

Among the main importing countries, South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per litre in 2022, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per litre), while Kazakhstan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform