Eastern Asia: Grape Must Market 2024

Grape Must Market Size in Eastern Asia

In 2021, the East Asian grape must market decreased by -4.3% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by 8.5% against the previous year. Over the period under review, the market reached the peak level at $X in 2020, and then declined modestly in the following year.

Grape Must Production in Eastern Asia

In value terms, grape must production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 18%. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Grape Must Exports

Exports in Eastern Asia

After two years of growth, shipments abroad of grape must decreased by -75.3% to X litres in 2021. Overall, exports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2013 with an increase of 168%. The volume of export peaked at X litres in 2020, and then fell remarkably in the following year.

In value terms, grape must exports dropped remarkably to $X in 2021. In general, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 127% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then declined significantly in the following year.

Exports by Country

China represented the key exporter of grape must in Eastern Asia, with the volume of exports finishing at X litres, which was near 43% of total exports in 2021. It was distantly followed by South Korea (X litres), Japan (X litres) and Hong Kong SAR (X litres), together committing a 55% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key 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, Japan ($X) emerged as the largest grape must supplier in Eastern Asia, comprising 54% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 17% share of total exports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at +25.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+15.4% per year) and China (-8.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per litre, jumping by 171% against the previous year. Over the period under review, the export price saw a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per litre), while China ($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 a decline in the export price figures.

Grape Must Imports

Imports in Eastern Asia

Grape must imports declined markedly to X litres in 2021, reducing by -38.9% on the previous year. In general, imports recorded a deep reduction. The growth pace was the most rapid in 2013 with an increase of 18%. Over the period under review, imports hit record highs at X litres in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, grape must imports reduced sharply to $X in 2021. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Korea (X litres) and China (X litres) were the largest importers of grape must in 2021, accounting for near 36% and 35% of total imports, respectively. It was distantly followed by Japan (X litres) and Hong Kong SAR (X litres), together comprising a 26% share of total imports. Taiwan (Chinese) (X litres) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +5.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest grape must importing markets in Eastern Asia were China ($X), South Korea ($X) and Hong Kong SAR ($X), with a combined 87% share of total imports. These countries were followed by Japan and Taiwan (Chinese), which together accounted for a further 12%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +11.4%, 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 Eastern Asia stood at $X per litre in 2021, growing by 36% against the previous year. Over the last nine years, it increased at an average annual rate of +3.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: 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 Taiwan (Chinese) (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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