Wednesday, December 12, 2007

Asian Wine Market Explodes

The demand for wine in Asia is growing dramatically. Today I read two articles about this expanding market.

Drinks International states that Asian wine consumption is growing at more than 7 times the global average. The global average is 1% but Asian growth is at almost 8%. India and China may be the largest Asian markets. By 2012, China may become the world's 8th largest wine consuming country.

Decanter mentions that China became one of the Top Ten wine consumers in the world last year. France is the biggest supplier of wine to Asia (39.3%), but Australia (10.2%), Chile (7.6%)and the US (13.8%) are making a major push in the Asian market. It is also interesting that it is thought the US will become the biggest consumer of wine by 2012. China and Hong Kong currently commands 62.7% of the Asian market, followed by Japan at 28%.

This certainly points to a large marketing opportunity for wineries, an enormous potential market.

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