WINE: IN 2017 THE ASIAN MARKET WILL BE WORTH 1.5 BILLION DOLLARS

The international wine market is moving further east: according to the Hong Kong International Wine Fair, by 2017 wine imports to Asian countries, excluding Japan, will reach a quota of 1.5 billion dollars. The lion’s share will go to China, which alone (including Hong Kong) should make up 60% of the market, the equivalent of about 870 million dollars.

“The global demand for wine is moving continuously from the traditional markets, Europe and the United States, towards Asia”, explained the financial secretary of the Hong Kong International Wine Fair, Carrie Lam Cheng. The impact of the Far East on the global geography of wine is evident also in a recent study, commissioned by Hong Kong Trade, and according to which, over the next 5 years, the markets of China (including Hong Kong), Thailand, Taiwan, and Singapore should be growing at an annual rate of between 10 and 20%.
Confirming this rapid growth rate, in 2007 China entered onto the “Top 10” list of the highest wine consumers world wide, and it is predicted that by 2012, the Asian giant will climb even higher on the list.