Wine consumption in Asia is growing at more than seven times the global average, according to new research from Vinexpo.
Consumers worldwide spent more than $100 billion on wine in 2006, a study commissioned by Vinexpo Asia-Pacific shows.
Yet, while global consumption has risen by an average of only 1 percent annually in recent years, Asia’s wine consumption is rising by nearly 8 percent, Drinks International points out.
Emerging markets in Asia – 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 global drinks market research forecasts that between 2006 and 2011, China’s wine consumption will grow by almost 70 percent, making it the world’s eighth-largest wine consuming country. Japan also is expected to resume a positive growth track.
These statistics underline the huge potential for development in the region. They also support the decision by Robert Beynat, chief executive of Vinexpo Asia-Pacific, to hold the region’s largest wine and spirit exhibition in Hong Kong, known as the gateway to Asia. Beyat said Hong Kong also offers other attractions, including stability, economic growth, good transportation systems and a solid communication infrastructure.
The third Vinexpo Asia-Pacific will held in May 27-29 at the The Hong Kong Convention and Exhibition Centre, where around 600 exhibitors will be on hand and some 7,000-8,000 visitors are expected from 30 countries across the region. The regional Vinexpo shows are held on alternate years to the big event in Bordeaux, which attracts more than 70,000 visitors.