Asia-Pacific: Grape Wine Spirits Market 2024

Grape Wine Spirits Market Size in Asia-Pacific

The Asia-Pacific grape wine spirits market reached $X in 2022, with an increase of 6.3% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Grape Wine Spirits Production in Asia-Pacific

In value terms, grape wine spirits production expanded rapidly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 33%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Grape Wine Spirits Exports

Exports in Asia-Pacific

In 2022, the amount of spirits obtained from distilled grape wine or grape marc exported in Asia-Pacific shrank to X litres, falling by -9.1% against 2021 figures. Overall, exports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. Over the period under review, the exports attained the peak figure at X litres in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, grape wine spirits exports contracted to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 45%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of spirits obtained from distilled grape wine or grape marc, namely Singapore, Australia and India, represented more than two-thirds of total export. It was distantly followed by Malaysia (X litres) and Taiwan (Chinese) (X litres), together comprising a 10% share of total exports. Hong Kong SAR (X litres) and China (X litres) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +17.5%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest grape wine spirits supplier in Asia-Pacific, comprising 75% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.2% share of total exports. It was followed by Malaysia, with a 5% share.

In Singapore, grape wine spirits exports expanded at an average annual rate of +3.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (-9.7% per year) and Malaysia (-2.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per litre in 2022, surging by 3.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 when the export price increased by 14% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.6%), while the other leaders experienced more modest paces of growth.

Grape Wine Spirits Imports

Imports in Asia-Pacific

In 2022, grape wine spirits imports in Asia-Pacific reduced to X litres, with a decrease of -11.9% on the year before. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +44.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 64% against the previous year. The volume of import peaked at X litres in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, grape wine spirits imports declined to $X in 2022. The total import value increased at an average annual rate of +2.1% 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 when imports increased by 47% against the previous year. As a result, imports attained the peak of $X, and then fell modestly in the following year.

Imports by Country

The Philippines was the largest importing country with an import of around X litres, which accounted for 52% of total imports. China (X litres) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (10%). Australia (X litres), Malaysia (X litres) and Hong Kong SAR (X litres) took a little share of total imports.

The Philippines was also the fastest-growing in terms of the spirits obtained from distilled grape wine or grape marc imports, with a CAGR of +25.9% from 2012 to 2022. At the same time, China (+2.1%) displayed positive paces of growth. By contrast, Singapore (-2.5%), Australia (-2.7%), Hong Kong SAR (-8.7%) and Malaysia (-9.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines increased by +44 percentage points.

In value terms, the largest grape wine spirits importing markets in Asia-Pacific were China ($X), Singapore ($X) and Hong Kong SAR ($X), with a combined 84% share of total imports. These countries were followed by the Philippines, Malaysia and Australia, which together accounted for a further 7%.

The Philippines, with a CAGR of +27.4%, saw the highest growth rate of 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 11% against the previous year. In general, the import price, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2020 an increase of 42%. Over the period under review, import prices hit record highs at $X per litre in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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