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Wine sales booming in Asia
27 August, 2008
Page 9
Wine consumption in Asia is growing at more than seven times the global average, according to new research a study commissioned by Vinexpo Asia Pacific.
Consumers worldwide spent more than US$100bn on wine in 2006. Yet, while global consumption has only risen by an average one per cent annually in recent years, Asia's consumption is rising by nearly eight per cent.
Emerging markets in Asia, and particularly the growing middle classes in India and China, are catching the attention of wine firms, and analysts believe there is still much growth potential.
The research, undertaken by IWSR, forecasts that between 2006 and 2011 China's wine consumption will grow by almost 70 per cent making it the eighth largest wine consuming country. Japan is also expected to resume a positive growth track after showing decline between 2002 and 2006.
These statistics underline the huge potential for development in the region. They also support the decision by Robert Beynat, chief executive Vinexpo Asia-Pacific, to hold the region's largest wine and spirit exhibition in Hong Kong - the gateway to Asia.
Beyat said Hong Kong also offers other attractions - stabilitiy, economic growth, transport and communication infrastructure.
The first Vinexpo in Asia was in 1998, the second in 2006, with a show in the US prior to that.
The third Vinexpo Asia-Pacific will held in May 27-29, 2008 at the The Hong Kong Convention and Exhibition Centre where around 600 exhibitors will occupy the 7,000 sq m floor space, Some 7-8,000 visitors are expected from some 30 countries across the region.
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Consumers worldwide spent more than US$100bn on wine in 2006. Yet, while global consumption has only risen by an average one per cent annually in recent years, Asia's consumption is rising by nearly eight per cent.
Emerging markets in Asia, and particularly the growing middle classes in India and China, are catching the attention of wine firms, and analysts believe there is still much growth potential.
The research, undertaken by IWSR, forecasts that between 2006 and 2011 China's wine consumption will grow by almost 70 per cent making it the eighth largest wine consuming country. Japan is also expected to resume a positive growth track after showing decline between 2002 and 2006.
These statistics underline the huge potential for development in the region. They also support the decision by Robert Beynat, chief executive Vinexpo Asia-Pacific, to hold the region's largest wine and spirit exhibition in Hong Kong - the gateway to Asia.
Beyat said Hong Kong also offers other attractions - stabilitiy, economic growth, transport and communication infrastructure.
The first Vinexpo in Asia was in 1998, the second in 2006, with a show in the US prior to that.
The third Vinexpo Asia-Pacific will held in May 27-29, 2008 at the The Hong Kong Convention and Exhibition Centre where around 600 exhibitors will occupy the 7,000 sq m floor space, Some 7-8,000 visitors are expected from some 30 countries across the region.
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