| Reports of exponential growth in the consumption of wine in China have been confirmed by an authoritative industry survey, and the potentially vast market will be one of the main focal points for Vinexpo-Asia Pacific 2006, which will be held at the Hong Kong Convention and Exhibition Centre on May 23-25, reports www.ehotelier.com
The world's wine market is worth US$100 billion a year, even as the global wine and spirits market generates US$267 billion a year, or the equivalent of how much the world would have to pay for 972 Airbus 380s.
The Chinese spending is making an increasingly important contribution to the growth of the wine business. In 2004, China, including Hong Kong, quaffed 373.7 million litres of wine, the equivalent of 500 million bottles (compared to the estimated 7.2 million bottles, including bottles of Goan 'port wine', consumed by Indians in 2005).
This makes China, including Hong Kong, the biggest wine consumer in Asia in volume terms, according to the Vinexpo/IWSR 2006 Study, which estimates that consumption will have risen by a massive 54.4% to 760 million bottles by 2010.
The survey's findings were announced at a press conference in Hong Kong on Monday. Vinexpo's Asia-Pacific Chief Executive, Robert Beynat, said the show organisers are confident of reaching or exceeding their target of attracting at least 7,000 professional visitors. Chateau Indage, which had a successful debut at Wine for Asia 2005 in Singapore, is the only Indian wine company participating in the show.
"Vinexpo Asia Pacific's exhibitors ... wish to profit from the Asian wine and spirit market increasing by more than 4% in volume per year compared to the weakness of the European market," he said. The report states that between 2000 and 2010, the consumption of still and sparkling wines in China/HongKong, Japan, South Korea, the Philippines, Thailand, Taiwan, Singapore, Malaysia and India should grow by 45.8%. By 2010, Asia is expected to consume 921.2 million litres of wine, or around 4% of world consumption.
China 's contribution to that total is increasingly important to the industry. Although domestically produced wines continue to dominate the growing market, consumption of imported still wine is increasing by 15% to 16% annually, which is twice the speed of market growth. France remains the leading supplier of still wine to the Chinese market. |
