Eastern Asia: Wine Market 2024

Wine Market Size in Eastern Asia

The East Asian wine market shrank slightly to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Wine Production in Eastern Asia

In value terms, wine production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Wine Exports

Exports in Eastern Asia

In 2022, shipments abroad of wine increased by X% to X litres, rising for the second year in a row after five years of decline. Overall, exports, however, showed a perceptible slump. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X litres in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, wine exports surged to $X in 2022. Over the period under review, exports enjoyed a tangible expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Hong Kong SAR (X litres) represented the key exporter of wine, making up X% of total exports. China (X litres) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (X%). Macao SAR (X litres) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wine exports from Hong Kong SAR stood at X%. At the same time, Macao SAR (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, China (X%) illustrated a downward trend over the same period. Taiwan (Chinese) (X p.p.), Macao SAR (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Hong Kong SAR ($X) remains the largest wine supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Macao SAR, with an X% share.

In Hong Kong SAR, wine exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Macao SAR (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per litre, remaining stable against the previous year. Overall, the export price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per litre in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Macao SAR ($X per litre), while Taiwan (Chinese) ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Wine Imports

Imports in Eastern Asia

In 2022, imports of wine in Eastern Asia fell to X litres, reducing by X% against the previous year's figure. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the maximum at X litres in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, wine imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X litres) and Japan (X litres) prevails in imports structure, together generating X% of total imports. South Korea (X litres) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (X%). Taiwan (Chinese) (X litres) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wine importing markets in Eastern Asia were Japan ($X), China ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per litre, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per litre), while China ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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