Eastern Asia: Grape Wine Spirits Market 2024

Grape Wine Spirits Market Size in Eastern Asia

The East Asian grape wine spirits market rose slightly to $X in 2022, growing by 4.3% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Grape Wine Spirits Production in Eastern Asia

In value terms, grape wine spirits production rose sharply to $X in 2022 estimated in export price. In general, production, however, recorded a mild setback. The growth pace was the most rapid in 2020 when the production volume increased by 38%. 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 Eastern Asia

In 2022, the amount of spirits obtained from distilled grape wine or grape marc exported in Eastern Asia reduced remarkably to X litres, falling by -42.9% against 2021. Over the period under review, exports saw a perceptible decline. The growth pace was the most rapid in 2021 when exports increased by 161% against the previous year. The volume of export peaked at X litres in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, grape wine spirits exports shrank markedly to $X in 2022. Overall, exports recorded a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 86%. Over the period under review, the exports attained the maximum 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 Taiwan (Chinese), Hong Kong SAR and China, represented more than two-thirds of total export. South Korea (X litres) and Japan (X litres) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +6.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the largest grape wine spirits supplier in Eastern Asia, comprising 51% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 24% share of total exports. It was followed by China, with a 22% share.

In Hong Kong SAR, grape wine spirits exports shrank by an average annual rate of -9.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-5.1% per year) and China (+1.2% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per litre in 2022, picking up by 6.3% against the previous year. In general, the export price, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 14% against the previous year. Over the period under review, the export prices hit record highs at $X per litre in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 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 Japan (+8.1%), while the other leaders experienced mixed trends in the export price figures.

Grape Wine Spirits Imports

Imports in Eastern Asia

In 2022, approx. X litres of spirits obtained from distilled grape wine or grape marc were imported in Eastern Asia; which is down by -18.8% against the previous year. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 24% 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 contracted significantly to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +31.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 55% against the previous year. As a result, imports reached the peak of $X, and then declined significantly in the following year.

Imports by Country

China prevails in imports structure, finishing at X litres, which was near 83% of total imports in 2022. It was distantly followed by Hong Kong SAR (X litres), achieving a 6.2% share of total imports. Japan (X litres), Taiwan (Chinese) (X litres) and Macao SAR (X litres) took a relatively small share of total imports.

China was also the fastest-growing in terms of the spirits obtained from distilled grape wine or grape marc imports, with a CAGR of +2.1% from 2012 to 2022. Macao SAR experienced a relatively flat trend pattern. Japan (-3.7%), Taiwan (Chinese) (-4.2%) and Hong Kong SAR (-8.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +14 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported spirits obtained from distilled grape wine or grape marc in Eastern Asia, comprising 82% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.8% share of total imports. It was followed by Taiwan (Chinese), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +3.6%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-7.4% per year) and Taiwan (Chinese) (-0.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per litre, picking up by 3.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 27%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Taiwan (Chinese) ($X per litre), while Japan ($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) (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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