Asia-Pacific: Sparkling Wine Market 2024

Sparkling Wine Market Size in Asia-Pacific

The Asia-Pacific sparkling wine market declined modestly to $X in 2022, falling by -3.9% against the previous year. In general, consumption continues to indicate a noticeable downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sparkling Wine Production in Asia-Pacific

In value terms, sparkling wine production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sparkling Wine Exports

Exports in Asia-Pacific

In 2022, shipments abroad of sparkling wine increased by 18% to X litres, rising for the third consecutive year after two years of decline. Over the period under review, exports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 30% against the previous year. Over the period under review, the exports attained the maximum at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sparkling wine exports soared to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +97.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 51%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X litres), Singapore (X litres) and Thailand (X litres) represented roughly 90% of total exports in 2022. It was distantly followed by New Zealand (X litres), creating a 7% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +36.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X) remains the largest sparkling wine supplier in Asia-Pacific, comprising 83% of total exports. The second position in the ranking was taken by Australia ($X), with a 9.1% share of total exports. It was followed by New Zealand, with a 2.4% share.

In Singapore, sparkling wine exports increased at an average annual rate of +5.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (-1.7% per year) and New Zealand (+2.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per litre in 2022, surging by 11% against the previous year. Over the period under review, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 42% against the previous year. Over the period under review, the export prices hit record highs at $X per litre in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 Singapore ($X per litre), while Thailand ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+8.0%), while the other leaders experienced more modest paces of growth.

Sparkling Wine Imports

Imports in Asia-Pacific

Sparkling wine imports amounted to X litres in 2022, surging by 1.8% against the previous year's figure. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 20% against the previous year. Over the period under review, imports reached the peak figure at X litres in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, sparkling wine imports rose markedly to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X litres) was the key importer of sparkling wine, making up 40% of total imports. Australia (X litres) ranks second in terms of the total imports with an 18% share, followed by Singapore (9.9%), China (7.4%), South Korea (5.4%) and New Zealand (5.1%). Hong Kong SAR (X litres) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sparkling wine imports into Japan stood at +4.2%. At the same time, South Korea (+8.9%), Hong Kong SAR (+3.2%), China (+2.9%) and Singapore (+2.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +8.9% from 2012-2022. By contrast, New Zealand (-1.2%) and Australia (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan and South Korea increased by +6.8 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sparkling wine importing markets in Asia-Pacific were Japan ($X), Singapore ($X) and Australia ($X), with a combined 79% share of total imports. China, Hong Kong SAR, South Korea and New Zealand lagged somewhat behind, together comprising a further 15%.

South Korea, with a CAGR of +12.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 2022, growing by 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2018 when the import price increased by 16%. The level of import peaked in 2022 and is likely to continue growth in the near future.

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 Singapore ($X per litre), while New Zealand ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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