US wine exports up in 2011 as Asian demand grows

U.S. wine exports hit an all-time high in 2011, thanks in part to higher demand in Asian markets.

Figures released Thursday by the Wine Institute in San Francisco show that exports set a new $1.4 billion record in revenues. That's up nearly 22 percent over 2010.

California vintners are finding success marketing high-end cabernets and chardonnays to a new generation of upscale consumers in China.

Wine exports to China grew by 42 percent last year, and similar increases were noted in other Asian nations. It nearly doubled 2010 export numbers as more winemakers are seeking to crack a relatively untapped market.

However, the biggest market for U.S. wines remains the European Union, which accounts for 34 percent of all exports.