Asia's wine consumption to increase by 25% in five years

Asia's wine consumption is set to grow by 25% in the next five years in stark contrast to a predicted fall in European wine drinking, according to new 文章来源中国酒业新闻网figures released today by Vinexpo.

It predicts the Asian wine and spirits market will be worth $6.4 billion by 2011 with wine consumption growing to nearly 1.3 billion litres between 2009 and 2013, at a rate five times faster than the rest of the world.

By contrast the figures, compiled in association with International Wine & Spirit Record, predict European wine consumption will fall by 0.7% over the same period, with the United States the only other big winner with consumption up by 7.6%

Robert Beynat, chief exectutive of Vinexpo, said he expected 2010 to be a better year for the global wine industry than the previous two and that there would be a 3.6% increase in the global wine market in the next five years. Although, he said, this is less marked than the 4.8% growth between 2003-2008 it still outstrips most other grocery and FMCG global markets.

Vinexpo also predicts sparkling wine sales (including Champagne) will increase faster than still in the next five years (over 1% against a below 1% increase for still).
But it is the Asian markets that will really drive global wine sales and consumption, stressed Beynat. "It is the future. We are very optimistic," he said.

He is particularly encouraged by the amount of vines now being planted across China, as that will not only encourage home consumption but drive import sales as well. A similar picture is well established in India as well, he added.

Although it is not predicting such increases for Asian spirit sales, it expects the value of the market to increase considerably as more consumers switch away from local brands to more expensive western brands.

The scale and significance of the Asian market is why Vinexpo is to hold its next exhibition in Hong Kong. "Hong Kong wants to be the wine hub of Asia," said Beynat.

Vinexpo Asia-Pacific runs between May 25-27, is already sold out with some 8,000 square metres of floor space, 30 exhibiting countries and 9,500 anticipated visitors.