Eastern Asia: Wine Market 2024

Wine Market Size in Eastern Asia

The East Asian wine market shrank slightly to $X in 2022, standing approx. at the previous year. The market 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. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Wine Production in Eastern Asia

In value terms, wine production dropped to $X in 2022 estimated in export price. The total production indicated a modest increase from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded 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 failed to regain momentum.

Wine Exports

Exports in Eastern Asia

In 2022, shipments abroad of wine and grape must increased by X% to X litres, rising for the second year in a row after five years of decline. Overall, exports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X litres in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, wine exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a notable increase. The most prominent rate of growth was recorded in 2015 with an increase of 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

Hong Kong SAR represented the largest exporter of wine and grape must in Eastern Asia, with the volume of exports amounting to X litres, which was approx. X% of total exports in 2022. China (X litres) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (X%). Macao SAR (X litres) took a minor share of total exports.

Exports from Hong Kong SAR decreased at an average annual rate of X% from 2012 to 2022. At the same time, Macao SAR (X%), Taiwan (Chinese) (X%) and China (X%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. While the share of China (X p.p.), Taiwan (Chinese) (X p.p.) and Macao SAR (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics.

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

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

Export Prices by Country

The export price in Eastern Asia stood at $X per litre in 2022, shrinking by X% against the previous year. Overall, the export price, however, recorded a buoyant increase. The growth pace was the most rapid in 2015 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per litre in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Macao SAR ($X per litre), while Taiwan (Chinese) ($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 Eastern Asia

In 2022, approx. X litres of wine and grape must were imported in Eastern Asia; reducing by X% on 2021 figures. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X litres in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, wine imports fell slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid 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 remained at a lower figure.

Imports by Country

China (X litres) and Japan (X litres) dominates imports structure, together committing X% of total imports. South Korea (X litres) held the next position in the ranking, followed by Hong Kong SAR (X litres). All these countries together took approx. X% share of total imports. Taiwan (Chinese) (X litres) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the import price in Eastern Asia amounted to $X per litre, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per litre), while China ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :