Asia-Pacific: Wine Market 2024

Wine Market Size in Asia-Pacific

The Asia-Pacific wine market reduced modestly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Wine Production in Asia-Pacific

In value terms, wine production declined 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 pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Wine Exports

Exports in Asia-Pacific

Wine exports totaled X litres in 2022, with an increase of X% against the previous year's figure. Over the period under review, exports, however, saw a noticeable shrinkage. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X litres in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, wine exports declined slightly to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia was the main exporter of wine and grape must in Asia-Pacific, with the volume of exports reaching X litres, which was approx. X% of total exports in 2022. It was distantly followed by New Zealand (X litres), creating a X% share of total exports. The following exporters - Singapore (X litres), Thailand (X litres) and Hong Kong SAR (X litres) - each recorded a X% share of total exports.

Exports from Australia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%), Singapore (X%) and New Zealand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of New Zealand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X), New Zealand ($X) and Singapore ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Hong Kong SAR and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Thailand, 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

In 2022, the export price in Asia-Pacific amounted to $X per litre, with a decrease of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per litre, and then reduced modestly in the following year.

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 ($X per litre), while Australia ($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-Pacific

In 2022, overseas purchases of wine and grape must increased by X% to X litres, rising for the second year in a row after three years of decline. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X litres in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, wine imports shrank slightly to $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 in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X litres) and Japan (X litres) were the key importers of wine and grape must in Asia-Pacific, together comprising X% of total imports. Australia (X litres) ranks next in terms of the total imports with an X% share, followed by South Korea (X%). New Zealand (X litres), Singapore (X litres), Hong Kong SAR (X litres), Malaysia (X litres), Taiwan (Chinese) (X litres), Thailand (X litres) and the Philippines (X litres) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (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-Pacific were Japan ($X), China ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. Singapore, Australia, South Korea, Taiwan (Chinese), New Zealand, Malaysia, Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per litre, leveling off in the following year.

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

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

Source: IndexBox Platform

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