Asia-Pacific: Grape Must Market 2024

Grape Must Market Size in Asia-Pacific

The Asia-Pacific grape must market declined to $X in 2021, dropping by -2.9% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Grape Must Production in Asia-Pacific

In value terms, grape must production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Grape Must Exports

Exports in Asia-Pacific

In 2021, grape must exports in Asia-Pacific declined remarkably to X litres, which is down by -29.3% on the previous year. In general, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 18%. The volume of export peaked at X litres in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, grape must exports shrank dramatically to $X in 2021. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by 25%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X litres) and Australia (X litres) were the main exporters of grape must in 2021, recording approx. 37% and 34% of total exports, respectively. It was distantly followed by New Zealand (X litres) and China (X litres), together generating an 18% share of total exports. South Korea (X litres), Japan (X litres) and Hong Kong SAR (X litres) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Japan (with a CAGR of +42.3%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the largest grape must supplier in Asia-Pacific, comprising 69% of total exports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total exports. It was followed by Japan, with a 5.9% share.

In Australia, grape must exports decreased by an average annual rate of -11.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (-13.0% per year) and Japan (+25.8% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per litre, increasing by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +5.5%. The pace of growth was the most pronounced in 2017 when the export price increased by 19% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per litre), while China ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+14.8%), while the other leaders experienced mixed trends in the export price figures.

Grape Must Imports

Imports in Asia-Pacific

In 2021, approx. X litres of grape must were imported in Asia-Pacific; which is down by -34.4% compared with 2020. Over the period under review, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2013 when imports increased by 18% against the previous year. The volume of import peaked at X litres in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, grape must imports fell to $X in 2021. In general, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 27% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

South Korea (X litres) and China (X litres) represented roughly 62% of total imports in 2021. Japan (X litres) took the next position in the ranking, distantly followed by Hong Kong SAR (X litres). All these countries together held near 23% share of total imports. Vietnam (X litres), Myanmar (X litres) and Australia (X litres) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +42.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grape must importing markets in Asia-Pacific were China ($X), South Korea ($X) and Hong Kong SAR ($X), with a combined 69% share of total imports. These countries were followed by Japan, Vietnam, Australia and Myanmar, which together accounted for a further 15%.

Among the main importing countries, Vietnam, with a CAGR of +57.9%, 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-Pacific stood at $X per litre in 2021, surging by 41% against the previous year. Import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per litre), while Japan ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+16.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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