Eastern Asia: Sparkling Wine Market 2024

Sparkling Wine Market Size in Eastern Asia

The East Asian sparkling wine market stood at $X in 2022, with an increase of 3.6% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Sparkling Wine Production in Eastern Asia

In value terms, sparkling wine production stood at $X in 2022 estimated in export price. Over the period under review, production saw a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sparkling Wine Exports

Exports in Eastern Asia

In 2022, sparkling wine exports in Eastern Asia declined to X litres, which is down by -13.2% against the previous year's figure. Over the period under review, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2021 when exports increased by 54%. The volume of export peaked at X litres in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, sparkling wine exports fell slightly to $X in 2022. Overall, exports, however, saw a perceptible expansion. The growth pace was the most rapid in 2021 when exports increased by 86% against the previous year. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

In 2022, Hong Kong SAR (X litres) represented the major exporter of sparkling wine, achieving 60% of total exports. China (X litres) held a 27% share (based on physical terms) of total exports, which put it in second place, followed by Japan (4.5%). Taiwan (Chinese) (X litres), South Korea (X litres) and Macao SAR (X litres) followed a long way behind the leaders.

Exports from Hong Kong SAR decreased at an average annual rate of -6.7% from 2012 to 2022. At the same time, Japan (+17.6%), Macao SAR (+10.1%), Taiwan (Chinese) (+5.8%), China (+5.2%) and South Korea (+2.0%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +17.6% from 2012-2022. From 2012 to 2022, the share of China, Japan and Taiwan (Chinese) increased by +15, +3.9 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) remains the largest sparkling wine supplier in Eastern Asia, comprising 80% of total exports. The second position in the ranking was taken by China ($X), with a 13% share of total exports. It was followed by Macao SAR, with a 3.4% share.

In Hong Kong SAR, sparkling wine exports increased at an average annual rate of +3.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (+7.8% per year) and Macao SAR (+18.2% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per litre in 2022, increasing by 15% against the previous year. In general, the export price posted a resilient increase. The growth pace was the most rapid in 2020 an increase of 53%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

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 Macao SAR ($X per litre), while South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.8%), while the other leaders experienced more modest paces of growth.

Sparkling Wine Imports

Imports in Eastern Asia

In 2022, the amount of sparkling wine imported in Eastern Asia was estimated at X litres, with an increase of 2.5% against the previous year. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 23% against the previous year. The volume of import peaked at X litres in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sparkling wine imports totaled $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +31.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 29%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Japan represented the key importer of sparkling wine in Eastern Asia, with the volume of imports reaching X litres, which was near 70% of total imports in 2022. It was distantly followed by China (X litres) and South Korea (X litres), together mixing up a 23% share of total imports. Hong Kong SAR (X litres) and Taiwan (Chinese) (X litres) followed a long way behind the leaders.

Imports into Japan increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, South Korea (+8.9%), Taiwan (Chinese) (+6.7%), Hong Kong SAR (+3.2%) and China (+2.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.9% from 2012-2022. From 2012 to 2022, the share of South Korea increased by +3.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported sparkling wine in Eastern Asia, comprising 73% of total imports. The second position in the ranking was held by China ($X), with an 8.6% share of total imports. It was followed by Hong Kong SAR, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan totaled +5.5%. In the other countries, the average annual rates were as follows: China (+3.7% per year) and Hong Kong SAR (+4.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per litre in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2018 an increase of 14%. The level of import peaked at $X per litre in 2021, and then declined 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 ($X per litre), while South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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