Asia: Wine Market 2024

Wine Market Size in Asia

The Asian wine market dropped to $X in 2022, remaining relatively unchanged against 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 throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Wine Production in Asia

In value terms, wine production dropped 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 growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Wine Exports

Exports in Asia

In 2022, the amount of wine and grape must exported in Asia skyrocketed to X litres, with an increase of X% against 2021 figures. Total exports indicated a prominent expansion 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 most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, wine exports rose significantly to $X in 2022. Over the period under review, exports continue to indicate a perceptible expansion. The most prominent rate of growth was recorded 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 failed to regain momentum.

Exports by Country

Georgia was the key 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. Israel (X litres) ranks second in terms of the total exports with an X% share, followed by Singapore (X%), Thailand (X%), the United Arab Emirates (X%) and Hong Kong SAR (X%). Armenia (X litres) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wine exports from Georgia stood at X%. At the same time, the United Arab Emirates (X%), Armenia (X%), Israel (X%), Thailand (X%) and Singapore (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Georgia, the United Arab Emirates, Israel 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, Singapore ($X), Hong Kong SAR ($X) and Georgia ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. The United Arab Emirates, Thailand, Israel and Armenia lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 amounted to $X per litre, declining by X% against the previous year. Over the period under review, the export price showed a noticeable descent. The pace of growth was the most pronounced in 2015 when the export price increased by X%. The level of export peaked at $X per litre in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per litre), while Israel ($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, 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. The total import volume 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 2015 when imports increased by 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 totaled $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 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X litres) and Japan (X litres) were the largest importers of wine and grape must in Asia, together creating X% of total imports. Israel (X litres) ranks next in terms of the total imports with a X% share, followed by South Korea (X%) and the United Arab Emirates (X%). Singapore (X litres), Hong Kong SAR (X litres), Malaysia (X litres), Taiwan (Chinese) (X litres), Kazakhstan (X litres), Thailand (X litres) and the Philippines (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Israel (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), together accounting for X% of total imports. Singapore, South Korea, the United Arab Emirates, Taiwan (Chinese), Malaysia, Thailand, Israel, the Philippines and Kazakhstan lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, recorded 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

In 2022, the import price in Asia amounted to $X per litre, falling by X% against 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 2018 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per litre in 2021, and then dropped modestly 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 ($X per litre), while Israel ($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 United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :